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Fintechs capitalize on concerns over FDIC's limited insurance for depositsfinance.
If OKCoin fails to respond to the FDIC's letter, the agency has warned that it could take appropriate action as authorized by the Federal Deposit Insurance Act and any other applicable law or regulation.
Over the weekend the federal government, determined to restore public confidence in the banking system, moved to protect all of the banks' deposits, even those that exceeded the FDIC's $250,000 limit per individual account.
Source: https://abc13.com/joe-biden-penalties-executives-failed-banks/12969479/
Over the weekend the federal government, determined to restore public confidence in the banking system, moved to protect all the banks' deposits, even those that exceeded the FDIC's $250,000 limit per individual account.
Source: https://abc13.com/first-republic-bank-rescue-package-big-banks-30-billion/12964043/
Resident Joe Biden is calling on Congress to expand the FDIC's authority to punish executives of banks that fail.
Source: https://abc13.com/stock-market-dow-jones-today-wall-street/12968918/
The Treasury's $25 billion deposit backstop, combined with the FDIC's $121 billion deposit insurance fund and the Fed's new program, can guarantee $19.4 trillion in deposits.
Source: https://seekingalpha.com/article/4587206-3-high-yield-bank-bargains?source=feed_all_articles
This will be the FDIC's second attempt at selling SVB after a failed effort a week ago.