Does it Make Sense to Charter or Acquire a Bank?
In 2017, the FDIC held a series of programs across the country regarding the Deposit Insurance application process. In addition: (1) the OCC has been evaluating over the past two years a limited purpose charter for Fintech companies; (2) several states have considered legislation providing for new limited purpose bank charters; and (3) applicants have applied to form industrial loan companies in one of the states in which they are permitted and have prepared applications for federal deposit insurance. This webinar will discuss whether it makes sense for a non-bank financial services provider to seek to organize an insured depositary institution, what the process is to do so, what challenges an applicant will face and what alternatives might be available.
The key components of the deposit insurance application.
The choice of which entity to form
The preemption benefits available to the holder of a financial institution charter.
Timing, capital requirements and alternatives.