Money Movement in Focus as Bank De Novo Activity Accelerates

Money Movement in Focus as Bank De Novo Activity Accelerates

In recent months, nonbanks have been applying for banking charters. Against a backdrop where de novo activity has been muted through the past several years, regulators have been moving to ease the bank application process. In a speech earlier this year, FDIC Acting Chairman Travis Hill said that since the start of 2010, the total number of new banks formed over 15 years is 86, which averages to less than six annually. In previous years the avera…