PRESS RELEASE | DECEMBER 16, 2025 FDIC Approves the Deposit Insurance Application for Erebor Bank, N.A., Columbus, Ohio WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a deposit insurance application to establish Erebor Bank, N.A. (Erebor Bank), a newly chartered national bank to be headquartered in Columbus, Ohio. The organizers of Erebor Bank applied to the Office of the Comptroller of the Currency for a national bank charter and received preliminary conditional approval on October 15, 2025. Erebor Bank’s proposed business model will focus on providing deposit and lending products to businesses and individuals in the technology, payment systems, investment, and defense industries, including virtual currency market participants. Applications for deposit insurance are evaluated under a statutory framework of seven factors that include: the financial history and condition of the institution; the adequacy of the institution's capital structure; the future earnings prospects of the institution; the general character and fitness of the management of the institution; the risk presented by the institution to the Deposit Insurance Fund; the convenience and needs of the community to be served by the institution; and whether the institution's corporate powers are consistent with the purposes of the Federal Deposit Insurance Act. FDIC staff found that Erebor Bank satisfied the statutory factors for approval, subject to certain conditions. Among other conditions, Erebor Bank will be required to implement protocols to comply with the FDIC’s regulations regarding processing of deposit accounts in the event of a bank failure, to maintain a minimum 12 percent tier 1 leverage ratio during its first three years of operation, and, in the event it ceases to be considered “well capitalized” or falls below the minimum capital levels required by its primary Federal regulator, to exercise its rights under its Capital Call Agreement to obtain at minimum the amount of capital necessary to be considered “well capitalized.” The FDIC Board’s approval order expires if Erebor Bank is not established within 12 months, unless extended by the FDIC. ATTACHMENTS: Deposit Insurance Approval Order # # # MEDIA CONTACT: MediaRequests@fdic.gov     The FDIC does not send unsolicited email. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. CONNECT WITH US

Federal Reserve Board announces termination of enforcement actions with The Goldman Sachs Group, Inc. and Metropolitan Commercial Bank

BOARD MEETING | DECEMBER 16, 2025 FDIC Board of Director's Meeting Today, the Federal Deposit Insurance Corporation's Board of Directors met in open and closed sessions. Materials and information relative to the open Board actions are available on the Board Matters webpage. Items Addressed in Open Session: 2026 Operating Budget Press Release Interim Final Rule: Amendment to Special Assessment Collection Press Release Financial Institution Letter Notice of Proposed Rulemaking: Approval Requirements for Issuance of Payment Stablecoins by Subsidiaries of FDIC-Supervised Insured Depository Institutions Press Release Financial Institution Letter Final Rule: Establishment and Relocation of Branches and Offices Press Release Financial Institution Letter Approval of the 2026-2030 FDIC Strategic Plan, as a Successor to the 2022-2026 FDIC Strategic Plan   A recording of the full webcast of the open session is available. Board Materials   The FDIC does not send unsolicited email. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. CONNECT WITH US

Agencies announce dollar thresholds for applicability of truth in lending and consumer leasing rules for consumer credit and lease transactions

Agencies announce dollar thresholds for smaller loan exemption from appraisal requirements for higher-priced mortgage loans

The FCA will be introducing new guidance to help firms deal with instances of non-financial misconduct. By Nicola Higgs, Andrea Monks, Rob Moulton, Nell Perks, Becky Critchley, Charlie Bowden, and Charlotte Collins Key Points: Introduction On 12 December 2025, the FCA published a Policy Statement (PS25/23) containing the final version of its new guidance on...

The CFPB and the FRB are announcing the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2026 are subject to certain protections under Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).

The CFPB, FRB, and OCC are announcing that the 2026 threshold for higher-priced mortgage loans that are subject to special appraisal requirements will increase from $33,500 to $34,200.

SUNSHINE ACT MEETING NOTICE The FDIC Board of Directors will meet in an open session: Date and Time: Tuesday, December 16, 2025, at 10:00 a.m. ET Place: The Board meeting will be open to public observation by webcast. Members of the media should contact the Office of Communications by Monday, December 15, at MediaRequests@FDIC.gov to attend in person from FDIC Headquarters, 550 17th Street, NW, Washington, DC. Read Notice & Agenda The FDIC does not send unsolicited email. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. CONNECT WITH US

The FCA wants to reset how firms distinguish between retail and professional clients, balancing promoting growth with consumer protection. By Rob Moulton, Nicola Higgs, Becky Critchley, Jonathan Ritson-Candler, and Charlotte Collins Key Points: Introduction On 8 December 2025, the FCA published a Consultation Paper (CP25/36) containing proposals to amend the COBS 3 client categorisation rules,...