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The FDIC finalized a new brokered deposits rule on December 15, 2020, that excluded certain fintech-bank arrangements from brokered deposit restrictions. The rule was supportive of BaaS partnerships r...

The FDIC rescinded its prior guidance on non-sufficient funds (NSF) fees on April 10, 2026. This action removes previously issued supervisory expectations around NSF fee practices for FDIC-supervised ...

The FDIC and OCC adopted a joint final rule prohibiting the agencies from taking adverse action against financial institutions based on reputation risk, including risk stemming from customers' politic...

The FDIC issued a consent order against First Fed Bank for unsafe practices, deceptive acts, and FTC Act violations stemming from its joint venture with fintech Quin Ventures. The bank was cited for m...

The FDIC published a rule on official sign and advertising requirements, false advertising, and misrepresentation of insured status in December 2022. The rule addresses how FDIC insurance status must ...

The FDIC adopted more visible and prescriptive enforcement approaches against banks involved in bank-fintech partnerships in 2025, shifting from non-public supervisory actions to more public consequen...

The FDIC issued a request for information under its FDiTech initiative to reduce regulatory uncertainty for community banks partnering with fintechs. The RFI proposed a standards-setting organization ...

The OCC, FDIC, and Federal Reserve issued a Request for Information seeking public comments on risks in bank-fintech arrangements, including accountability gaps, end-user confusion, rapid growth, conc...

The FDIC published a speech or update on reforms to its regulatory toolkit, potentially addressing BaaS and third-party risk management supervisory approaches.

The FDIC released documents related to its supervision of crypto-related activities at banks, signaling a reevaluation of earlier pauses on crypto and fintech partnerships. This reflects evolving supe...

The OCC, Federal Reserve, and FDIC jointly issued a statement on July 25, 2024, highlighting risks in third-party arrangements for bank deposit products and services. The statement emphasizes that ban...

The FDIC published a final rule on parent companies of industrial banks and industrial loan companies (ILCs), establishing conditions and commitments for ILC parent companies. The rule was published i...

The FDIC issued a proposed rule for consolidated supervision of ILC parent companies ('Covered Companies'), requiring written agreements on capital, liquidity, and risk management, with restrictions o...

The OCC, FDIC, and Federal Reserve jointly issued proposed interagency guidance on managing risks in third-party relationships, including fintech partnerships. The guidance emphasized enhanced due dil...

The FDIC appointed its first-ever Chief Innovation Officer in February 2021 to encourage bank-fintech collaboration. The move came amid evolving OCC true lender rules and growing regulatory attention ...

The FDIC issued a final rule on January 15, 2021, clarifying the application and supervisory process for industrial loan companies (ILCs), an increasingly popular charter path for fintech firms seekin...

The FDIC approved Industrial Loan Company (ILC) charters for Square Financial Services (Square Bank) and Nelnet Bank, ending a years-long moratorium on new ILC charters. This landmark decision opens t...

Corporate credit card fintech Brex applied for an Industrial Loan Company (ILC) charter with the FDIC and Utah Department of Financial Institutions. The application followed renewed interest in ILC ch...

The FDIC proposed revisions to its policy on bank merger transactions, clarifying the approval framework for bank consolidations. Published in the Federal Register on April 19, the proposal could comp...

The FDIC under Acting Chairman Travis Hill highlighted policy priorities in April 2025 that signal greater openness to fintech banking applications, including industrial bank charters and crypto-relat...

The FDIC proposed new recordkeeping requirements on September 17, 2024, targeting for-benefit-of (FBO) accounts used in bank-fintech partnerships. The rule directly responds to the Synapse bankruptcy ...

The FDIC issued a consent order against Cross River Bank, a major fintech sponsor bank, citing inadequate oversight of fintech partners, fair lending compliance failures, and unsafe banking practices....

U.S. federal regulators including the FDIC, OCC, and DOJ finalized updated bank merger review policies on September 17, 2024, increasing scrutiny for deals involving insured depository institutions. T...

The FDIC issued consent orders against Piermont Bank and Sutton Bank for compliance failures related to their BaaS partnerships, particularly around Bank Secrecy Act obligations. Sutton Bank, which pa...

The FDIC issued a consent order against Thread Bank, a BaaS sponsor bank, for inadequate oversight of its fintech partners in embedded finance. The order, issued in May 2024 and made public in July, r...

The FDIC approved an industrial loan company charter for Thrivent Financial for Lutherans on June 14, 2024, the first ILC approval since Block and Nelnet in 2020. The new Thrivent Bank will be based i...

Federal banking regulators previewed timelines for key fintech and digital asset rules in December 2025. The FDIC is targeting stablecoin licensing guidance by year-end 2025, while the Federal Reserve...

The FDIC publicized a consent order against Choice Financial Group (related to Choice Bank) for BSA violations and weak oversight of third-party fintech relationships. The action stemmed from a June 2...

GM Financial withdrew its 2020 industrial loan company charter application from the FDIC on June 17, 2024, despite having received conditional approval from Utah's Department of Financial Institutions...

Savi Financial Corp. received FDIC approval in 2023 for a Washington state-chartered de novo bank called Orca Bank. The company still required Federal Reserve approval and targeted a Q1 2024 opening. ...

Varo Money received FDIC deposit insurance approval on February 12, 2020, advancing toward becoming a nationally chartered digital bank. Built on Temenos T24 cloud core, Varo offers features like earl...

Revolut filed a draft bank charter application with the FDIC and the California Department of Financial Protection and Innovation in March 2021. The UK-based challenger bank simultaneously launched US...