Tag : Federal Deposit Insurance Corporation

OppFi Provides Update on Pending BNC Acquisition
Finance Fintech News

OppFi Provides Update on Pending BNC Acquisition

PR Newswire
by PR Newswire0
Withdraws Bank Regulatory Applications Reaffirms 2026 Guidance OppFi Inc., a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, announced that, at this time, it has withdrawn its applications to the Office of the Comptroller of the Currency (“OCC”), the Board of......
FDIC Appoints Sunwest Bank as Nano Banc's Acquiring Institution
Banking Finance News

FDIC Appoints Sunwest Bank as Nano Banc’s Acquiring Institution

PR Newswire
by PR Newswire0
Sunwest Bank has acquired Nano Banc of Irvine, California in an FDIC-assisted acquisition. The Federal Deposit Insurance Corporation (FDIC) accepted receivership of Nano Banc from the Department of Financial Protection and Innovation (DFPI), which closed Nano Banc on Friday, September 25th. The FDIC subsequently entered into an agreement with Sunwest Bank,......
The High Cost of Going Cashless: Why Payment Choice Is Essential for Economic Equity
Banking Business Digital Payments Finance Fintech Industry Perspectives

The High Cost of Going Cashless: Why Payment Choice Is Essential for Economic Equity

Jim Petit
by Jim Petit0
Across the United States, the push toward a cashless society is beginning to encounter headwinds. While some retailers citing convenience and security are embracing digital payments and displaying “no cash” signs, others prefer cash to avoid ever-increasing fees related to credit cards and other digital payment means that eat into......
PayPal Submits Applications to Establish an Industrial Bank to Expand Access to Financial Services for U.S. Small Businesses
Finance News

PayPal Submits Applications to Establish an Industrial Bank to Expand Access to Financial Services for U.S. Small Businesses

PR Newswire
by PR Newswire0
PayPal Holdings, Inc. announced it has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to establish PayPal Bank, a proposed Utah-chartered industrial loan company. Since 2013, PayPal has provided access to over $30 billion in loans and working capital to more than 420,000 business accounts worldwide, filling a critical gap for small......
BancorpSouth Bank and Cadence Bancorporation Receive Final Regulatory Approval for Merger
Banking News

BancorpSouth Bank and Cadence Bancorporation Receive Final Regulatory Approval for Merger

Fintech News Desk
by Fintech News Desk0
BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, N.A., announced their proposed merger has received final Federal Deposit Insurance Corporation (“FDIC”) approval. The FDIC approval follows recent approvals from the Mississippi Department of Banking and Consumer Finance and from shareholders of both companies. The merger, originally announced......
The Federal Deposit Insurance Corporation Announces 'Tech Sprint'
Banking Commerce Featured

The Federal Deposit Insurance Corporation Announces ‘Tech Sprint’

Sudipto Ghosh
by Sudipto Ghosh0
The Federal Deposit Insurance Corporation [FDIC] has announced ‘Tech Sprint’ to reach the ‘last mile’ of unbanked Americans. FDIC maintains stability and public confidence in the nation’s current financial system. The ‘tech sprint’ is designed to explore new technologies and techniques in the US fintech ecosystem. It would help expand......
With $18.8 Billion in Assets, Customers Bank Furthers National Expansion
Banking News

With $18.8 Billion in Assets, Customers Bank Furthers National Expansion

Sudipto Ghosh
by Sudipto Ghosh0
Customers Bank, a digital forward consumer and commercial bank with approximately $18.8 billion in assets, is building upon its national recognition for providing innovative banking products and services to commercial clients to advance its national expansion. The next phase of the expansion includes opening a new commercial banking office in......
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