FDIC Financial Institution Letters Guidance

Statement by Vice Chairman Travis Hill on Board Merger and Deposit Insurance Application Review Process

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The brief below is a reading aid. The original source material and source link remain the governing reference.

Operational Brief

The FDIC Board approved a resolution requiring recurring briefings on any merger or deposit insurance application outstanding for more than nine months. The first set of required briefings was held during the closed session of the October 2024 Board meeting.

Why It Matters for Texas Credit Unions

The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. The guidance applies to all credit unions nationwide.

Who this most likely affects

Bounded site guidance: This item is most likely relevant for boards, executive leadership, and governance owners.

Why this fit: The source language points to governance, management, or supervisory posture rather than a narrow line function.

This is site guidance, not a formal determination. FDIC Financial Institution Letters and the original source material remain the governing reference.

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Original Source Material

STATEMENT | OCTOBER 17, 2024 Statement by Vice Chairman Travis Hill on Board Merger and Deposit Insurance Application Review Process On June 20, 2024, the FDIC Board approved a resolution I proposed to require recurring briefings to the full Board on any merger or deposit insurance application (“covered application”) outstanding for more than nine months. This requirement became effective this month, with the first set of required briefings held during the closed session of our Board meeting today. Leading up to the June Board meeting, there were 11 covered applications pending that had been outstanding for more than nine months, with a dozen more poised to cross the 9-month threshold between the June and October Board meetings if not resolved sooner. Over the last 2½ years, the number of covered applications outstanding for more than nine months at any given time has consistently hovered around 10, and several of these applications have lingered significantly longer than nine months. Read Full Statement The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe . STAY CONNECTED