OCC attacks on FDIC’s de novo process are off base, experts say (subscription)

Keith Noreika’s public feud with the Federal Deposit Insurance Corp. over its de novo chartering process is outdated and unnecessary, according to several industry professionals familiar with the process.

The acting comptroller of the currency has accused the FDIC of purposely delaying deposit insurance applications in order to keep new banks from forming, arguing that the approach is hampering the growth of the banking industry.

 

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