Federal Deposit Insurance Corporation - News, Articles & Research

Discover hit with $1.2 billion restitution order over interchange fees

The Federal Deposit Insurance Corporation (FDIC) has ordered Discover Bank to return more than $1.2 billion to merchants that were overcharged on swipe fees and pay a $150 million civil money penalty.

22 April 2025

News/regulation

FDIC says banks don't need prior approval for crypto activities

US banks no longer need to receive prior approval before engaging in crypto-related activities, says the Federal Deposit Insurance Corporation.

31 March 2025

Company announcement/regulation

Square Financial Services gets FDIC approval for consumer loan product

Today, Block, Inc. (NYSE: XYZ) announced its industrial bank, Square Financial Services, Inc. (SFS), has received approval from the Federal Deposit Insurance Corporation (FDIC) to begin offering the consumer loan product Cash App Borrow.

14 March 2025

News/regulation

SEC launches crypto task force, saying it can 'do better'

With Donald Trump in power, the new acting chairman of the Securities Exchange Commission has moved to reset the watchdog's approach to digital assets, launching a crypto task force dedicated to developing a regulatory framework for the sector.

22 January 2025

News/inclusion

US agencies provide advice for combatting elder financial exploitation

The Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and state financial regulators issued a joint statement this week.

04 December 2024

News/regulation

US regulators must take reins on fintech oversight - bank associations

US financial services regulators should take the reins on fintech oversight and stop expecting banks to independently police the sector, say the Bank Policy Institute and the Clearing House Association.

04 November 2024

News/regulation

FDIC plans to strengthen custodial deposit rules following Synapse collapse

In the wake of the collapse of fintech Synapse, a US regulator has outlined plans to strengthen recordkeeping requirements for bank deposits received from third party companies on behalf of their customers.

18 September 2024

News/regulation

FDIC hints at new bank reconcilement rules following Synapse failure

The US Federal Deposit Insurance Corporation (FDIC) is looking at plans to protect customers from fintech failures, reports Bloomberg Law.

06 September 2024

News/regulation

US regulators seek info on bank-fintech relationships

US banking regulators have issued a warning on the potential risks associated with third-party deposit arrangements and made a call for more information on the relationships between lenders and fintechs.

26 July 2024

Company announcement/retail

US regulators issue final guidance on third-party risk management

Federal bank regulatory agencies today issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies.

08 June 2023

News/crypto

US regulators warn banks of crypto exposure risks

US regulators have warned banks to be on their guard against the risks posed by exposure to the crypto asset sector in the wake of the implosion of crypto-exchange FTX and heightened volatility in the market.

04 January 2023

Company announcement/regulation

Regulators tell Voyager Digital to stop false statements about FDIC deposit insurance status

The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter demanding that the crypto brokerage firm Voyager Digital cease and desist from making false and misleading statements regarding its FDIC deposit insurance status and take immediate action to correct any such prior statements.

29 July 2022