United States:
FDIC Updates Q&As On Deposit Insurance Application Process
02 October 2019
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.
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.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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