Government Agencies FDIC

  • WASHINGTON, Feb 21- The U.S. banking sector recorded $59.1 billion in profits in the fourth quarter of 2018, down slightly from the third quarter's record level but still up significantly from the year prior, according to data from the Federal Deposit Insurance Corporation. The FDIC said the profits were driven by lower taxes and higher operating revenues.

  • NEW YORK, Jan 17- Payments company Square Inc is launching a free debit card for small businesses aimed at helping them better manage their cash flows, the company said on Thursday. "Sellers can get stuck in a cash flow crunch," Alyssa Henry, seller lead at Square, said on a call with journalists. Square is applying with the Federal Deposit Insurance Corp for a special...

  • WASHINGTON, Jan 14- The U.S. Federal Reserve is wary of giving "fintech" firms such as OnDeck Capital Inc or Kabbage Inc. access to the country's financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are...

  • Fed hasn't focused enough on financial system fragility, says former FDIC chair

    Sheila Bair, former U.S. Federal Deposit Insurance Corporation chair, sits down with "Squawk on the Street" to discuss her op-ed in The New York Times.

  • WASHINGTON, Dec 20- U.S. banking regulators announced on Thursday they had signed off on "living wills" for. The Federal Reserve and Federal Deposit Insurance Corporation said the resolution plans submitted by the banks had some shortcomings, but nothing significant enough to demand stricter rules or additional restrictions on bank activity.

  • NEW YORK, Dec 19- Square Inc, the payments company led by Twitter Inc chief executive Jack Dorsey, is refiling its application with U.S. state and federal regulators for a bank license, the company said on Wednesday. Square is applying with the Federal Deposit Insurance Corp for a special industrial loan company license, that allows nontraditional financial...

  • No savings

    While accounts that promise as much as 3 percent interest might catch your eye, you need to be careful about how your money is protected.

  • Holding a basil plant with bare hands

    People can find a more profitable place to store their savings. 

  • NEW YORK, Nov 28- A leading U.S. bank regulator said on Wednesday the government is considering easing requirements around the "living wills" large banks must submit detailing how they could be safely dissolved in a crisis. The Federal Deposit Insurance Corporation and Federal Reserve will propose changes in the coming months to rules dictating those plans,...

  • WASHINGTON, Nov 20- The U.S. banking sector reported $62 billion in profits in the third quarter, up 29.3 percent from the same period a year ago, according to quarterly data from the Federal Deposit Insurance Corporation. The regulator said in a statement that profits were boosted by a lower effective tax rate and higher operating revenues.

  • Congressman Jeb Hensarling (R-TX).

    If Rep. Maxine Waters becomes chair of the House Financial Services Committee she may not be able to undo Republicans' deregulation efforts, but she could still hurt the nation's economic growth, says GOP Rep. Jeb Hensarling.

  • The Federal Reserve Board said banks with a total of at least $250 bln in assets would be required to change its method of calculating advanced approaches to total risk-weighted assets under the proposed capital rule, issued in conjunction with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.

  • Holding a basil plant with bare hands

    People can find a more profitable place to store their savings, if they consider online banks. 

  • NEW YORK, Sept 20- Sheila Bair, former chair of the Federal Deposit Insurance Corporation, on Thursday warned that the economic recovery since the 2008 financial crisis has been largely driven by ballooning consumer and corporate debt, fueled by low interest rates. "It has been a very uneven recovery," Bair told Yahoo Finance's second annual "All Markets Summit" in...

  • WASHINGTON, Sept 18- Three U.S. banking regulators on Tuesday announced a 60- day open comment period on rules that define the acquisition and development of high volatility commercial real estate, according to a joint statement. The Federal Reserve, with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, intends to...

  • WASHINGTON, Sept 4- U.S. regulators said on Tuesday they will giving the public an extra 30 days to comment on a proposed rewrite of the "Volcker Rule" banning proprietary trading by banks. The five regulators charged with enforcing the rule will now accept comments until Oct. 17. The Federal Reserve, Federal Deposit Insurance Corporation, Securities and Exchange...

  • WASHINGTON, Aug 30- The Federal Reserve said on Thursday that it was giving Deutsche Bank AG and four other financial institutions an additional year to submit "living wills" detailing how they could be safely dissolved in a crisis. The Fed, along with the Federal Deposit Insurance Corp, said Deutsche, Barclays PLC, Credit Suisse Group AG and UBS AG would now be...

  • WASHINGTON, Aug 30- The Federal Reserve said on Thursday that it was giving Deutsche Bank AG and four other financial institutions an additional year to submit "living wills" detailing how they could be safely dissolved in a crisis. The Fed, along with the Federal Deposit Insurance Corporation, said Deutsche, Barclays PLC, Credit Suisse Group AG and UBS AG would now...

  • Sheila Bair: Our fiscal situation is not a good one

    Sheila Bair, former FDIC chair, discusses what she sees as potential pitfalls of reforming Dodd-Frank legislation and explains why deregulation of banks could be the seeds of the next financial crisis.

  • Sheila Bair, former Chair of the FDIC.

    Bitcoin is 'something regulators need to deal with but not ban,' says former FDIC Chair Sheila Bair.