FDIC: Deposit Insurance Application Approved for Edward Jones Bank, Salt Lake City, UT
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today announced the approval of a deposit insurance application submitted by the Jones Financial Companies, L.L.L.P. to establish Edward Jones Bank, which will be a Utah-chartered industrial bank. Applications for deposit insurance are evaluated under a statutory framework of seven factors that include: the…
FDIC: CRA Examination Schedules Issued for Second and Third Quarters 2026
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2026 and third quarter 2026. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The…
FDIC: Comment Period Extended on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins
February 6, 2026 The Federal Deposit Insurance Corporation (FDIC) today announced a 90-day extension to the comment period on the agency’s notice of proposed rulemaking (NPR) that would implement the application provisions under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) for FDIC-supervised state nonmember banks and state savings associations seeking…
FDIC: First Independence Bank, Detroit, MI, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, IL
Metropolitan Capital Bank & Trust was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan Capital Bank & Trust. Metropolitan Capital Bank &…
ICBA: FDIC Approval of Ford, GM Industrial Loan Companies Threatens Banking System Stability
The Independent Community Bankers of America (ICBA) today expressed serious concern with the Federal Deposit Insurance Corp.’s approval of industrial loan company applications from Ford and General Motors, citing the systemic risk the ILC regulatory loophole poses to the banking system by allowing financial institutions to receive federal deposit insurance while avoiding full regulatory oversight….
FDIC: Board Approves Final Rule to Amend Official Signs and Advertising Requirements
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to amend regulations governing the display of the FDIC official digital sign and non-deposit signage. The rule simplifies requirements for banks’ display of the FDIC official digital sign and non-deposit signage on digital deposit-taking channels, such as bank websites and mobile applications,…
FDIC: Board of Directors Establishes Office of Supervisory Appeals
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved amendments to the agency’s Guidelines for Appeals of Material Supervisory Determinations. Under the new Guidelines, the FDIC is replacing the existing Supervision Appeals Review Committee (SARC) with the Office of Supervisory Appeals, an independent, standalone office within the FDIC. The Office of Supervisory Appeals…
FDIC: Travis Hill Sworn in as the 23rd Chairman of the FDIC
Travis Hill was sworn in as the 23rd Chairman of the Federal Deposit Insurance Corporation (FDIC). Chairman Hill has served as Acting Chairman of the FDIC Board since January 20, 2025, and previously as Vice Chairman since January 5, 2023. Chairman Hill was nominated by President Trump on September 30, 2025, for a term of five years…
FDIC: List of Banks Examined for CRA Compliance Issued
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in October 2025. The CRA is a 1977 law that requires the FDIC to assess a bank’s record of meeting the…