FDIC Chief Wants To Put The 'Bank' Back In Banking

Law360 (October 23, 2018, 10:38 PM EDT) -- The recently installed head of the Federal Deposit Insurance Corp. told an audience of bankers on Tuesday that she wants to put the “bank” back in banking, sounding a note of concern about the growth of bank-like activities being conducted by firms that sit outside the traditional bank regulatory framework.

Speaking in New York at the American Bankers Association annual convention, FDIC Chair Jelena McWilliams said that while post-financial crisis reforms have “substantially” reduced systemic risk in the banking sector, banks have also ceded territory like mortgage origination and servicing to nonbanks that don’t face the same kind of regulation....

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