Law360, New York (July 13, 2016, 2:15 PM EDT) -- The Federal Deposit Insurance Corp.’s top official on Wednesday told members of Congress that his agency plans to review its deposit insurance application process amid a furor among Republicans about the lack of new bank creation since the financial crisis.Despite those Republican complaints about the lack of so-called de novo bank formation since the 2008 financial crisis, FDIC Chairman Martin Gruenberg said that it was the persistent near-zero interest rate environment and other economic factors that was causing investors to stop creating new banks.“While the current seven-year economic expansion has supported a broad-based improvement in bank financial performance, the... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
The Federal Deposit Insurance Corporation (FDIC) is set to review its deposit insurance application process. In a letter sent on Friday to the FDIC and other regulators in