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FDIC seeks industry help in effort to revive de novo banks

WASHINGTON — The Federal Deposit Insurance Corp. Thursday began seeking public comment on how it should oversee applicants for deposit insurance as part of a significant effort to revive startup banks.

The request for information on the FDIC’s application process was among a series of actions the agency announced aimed at streamlining how organizers seek a de novo bank charter. The FDIC has long been criticized for approving just a handful of applications since the financial crisis, while thousands of existing banks have merged or been shuttered.

“Over the past decade, de novo activity has screeched to a historic halt. As FDIC Chairman, one of my key priorit…
Banking Industry News

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