A bank insurance system to protect depositors’ funds in the event of bank failure is put in place. The plan doubles the proposed coverage limit to $ 100,000 for each depositor at an approved bank. Photo: 123rf The program, first offered two years ago, will have a limit of $ 100,000 for each depositor in […]
BISA’s board of directors is made up of industry veterans, like Rink, who run their respective companies. Rink’s experience at BBVA brings to the board a regulatory operating model in the best interest, including a new generation of technology, product, segmentation and customer experience initiatives. She worked within the BBVA organization to develop a holistic […]
A record year for consolidation of US insurance brokers in deal that helps perpetuate a long-standing trend. As part of Fifth Third Bancorp’s divestiture of Fifth Third Insurance Agency Inc. to Foundation Risk Partners Corp., as confirmed by S&P Global Market Intelligence, a rapidly growing brokerage backed by private capital has expanded its footprint and […]
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What is bank insurance? Bank insurance is a guarantee by the Federal Deposit Insurance Corporation (FDIC) of deposits in a bank. Established in 1989, the Bank Insurance Fund is the federal fund used to insure the bank deposits of national and state banks that are members of the Federal Reserve System. Bank insurance helps protect […]
By Marilyn Kennedy Melia The basic argument for insurance banks is this: by offering insurance products to protect their customers against risk, banks also protect their own results from the vagaries of interest rate cycles and credit risk. . In today’s stubbornly low rate environment and with rate cuts expected this year, profit margins are […]
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What is the Bank Insurance Fund (BIF) The Bank Insurance Fund (BIF) was a unit of the Federal Deposit Insurance Corporation (FDIC) that provided insurance protection to banks that were not classified as a savings and loan association. The BIF was created following the savings and credit crisis of the late 1980s. Key points to […]