Bradley attorney Paul Compton was quoted in the Birmingham Business Journal regarding a new rule from the FDIC that will impact several Birmingham banks. The rule will change the way banks with less than $10 billion in assets will be assessed for deposit insurance. According to the FDIC, more than 93 percent of small banks will pay lower assessment fees as early as the third quarter of 2016.
Compton said he thinks this proposal is responsive to an outcry from community bankers about some of the provisions in the FDIC’s initial 2015 proposal, which it revised this year. “Almost 10 percent of the nation’s community banks had expressed concern in comments letters about the original proposal,” Compton said.
The complete article, “New FDIC risk rule will affect most Birmingham banks,” first appeared in the BBJ on April 29, 2016.