ARTICLE
2 October 2019

FDIC Updates Q&As On Deposit Insurance Application Process

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Cadwalader, Wickersham & Taft LLP

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The FDIC updated supplemental Q&As on the deposit insurance application process for new insured depository institutions.
United States Finance and Banking

The FDIC updated supplemental Q&As on the deposit insurance application process for new insured depository institutions.

The FDIC clarified that:

  • applicants do not need to identify the specific physical location of the proposed institution's main office, although the application should describe the anticipated location; and
  • the proposed CEO must be identified, whereas other senior executive officer candidates may be noted after the formal application is submitted.

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