Latest Federal Deposit Insurance Corporation News

Trump administration wraps up overhaul of banking law

May. 20, 2020 2:56 PM EDT

NEW YORK (AP) — The Trump administration is moving forward with its overhaul of the law that protects borrowers from discrimination by banks, despite both banks and community groups saying an major overhaul during a pandemic is poorly timed. The Comptroller of the Currency said it had finalized on...

Editorial Roundup: Pennsylvania

May. 6, 2020 1:41 PM EDT

Recent editorials of statewide and national interest from Pennsylvania’s newspapers: During these perilous economic times, we must protect the ‘unbanked’ York Dispatch May 6 Everyone knows these are tough times. For the poorest among us, however, the suffering inflicted by the COVID-19...

In this April 24, 2020, photo, people maintain social distancing and wear face masks due to COVID-19 concerns, while waiting to enter a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)

Americans without bank accounts must wait for federal checks

May. 3, 2020 3:29 PM EDT

NEW YORK (AP) — As the coronavirus crisis took hold, Akeil Smith’s employer slashed her work as a home health aide to 25 hours per week. Her $15-an-hour salary no longer provided enough to pay her $700 monthly rent, and she had to visit food pantries for groceries. While millions of U.S. workers...

In this April 24, 2020, photo, people maintain social distancing and wear face masks due to COVID-19 concerns, while waiting to enter a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)

Americans without bank accounts must wait for federal checks

May. 3, 2020 3:01 PM EDT

NEW YORK (AP) — As the coronavirus crisis took hold, Akeil Smith’s employer slashed her work as a home health aide to 25 hours per week. Her $15-an-hour salary no longer provided enough to pay her $700 monthly rent, and she had to visit food pantries for groceries. While millions of U.S. workers...