Encouraging de novo bank formation is a top FDIC priority, FDIC Chairman Jelena McWilliams said. Speaking in Washington, McWilliams said 122 U.S. counties have only one banking office and 33 have none.
Responding last month to the agency’s request for input on improving the de novo application process, ICBA advocated phasing in capital requirements, shortening the application process, streamlining the business plan section of the application, and more.
McWilliams and Senate Banking Committee Chairman Mike Crapo (R-Idaho) are slated to speak at the 2019 ICBA Capital Summit, scheduled for April 28-May 1 in Washington.
Read McWilliams’ Speech
Read ICBA Comment Letter
Register for Capital Summit