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New Compliance Bulletin Available
On December 15, 2020, the Federal Deposit Insurance Corporation (FDIC) adopted a final rule that creates a new framework for analyzing certain provisions of the “deposit broker” definition, including “facilitating” and “primary purpose”. The final rule took effect on April 1, 2021 with full compliance extended until January 1, 2022.
OPINION: RISKY CALIFORNIA PUBLIC BANK PLAN WOULD DUPLICATE SERVICES
WBA President & CEO Steve Andrews has authored an opinion editorial addressing the banking industry’s concerns about a legislative proposal to create a public bank that would duplicate services already provided by banks. The opinion piece was published by the Bay Area News Group and appeared in the East Bay Times and San Jose Mercury News.