On February 7, all-mobile banking services startup Varo Money, Inc. (“Varo”) received the FDIC’s approval of its federal deposit insurance application for Varo Bank, N.A. (in formation) (the “Bank”). The FDIC’s approval...more
Competition and technology are demanding that banks provide more convenient payment choices for consumers. Consequently, banks are offering mobile financial services (MFS) that can be accessed through mobile devices such as...more
The Federal Deposit Insurance Corporation (“FDIC”) has been publishing FDIC Consumer News quarterly since 1993 to help people protect their money and avoid financial fraud and theft. In its Winter 2016 issue, the FDIC has...more
FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more
How can financial institutions better serve underbanked individuals? - An advisory panel convened by the Federal Deposit Insurance Corporation (FDIC) met recently to discuss possible answers to this question....more