BankBlackwell, which hopes to be the first African American-owned Internet bank, received deposit insurance approval from the Federal Deposit Insurance Corp., clearing its last major regulatory hurdle.
BankBlackwell, which hopes to be the first African American-owned Internet bank, received deposit insurance Deposit insurance See: FDIC: Federal Deposit Insurance Corporation approval from the Federal Deposit Insurance Corp., clearing its last major regulatory hurdle. The approval clears the way for the bank's organizers to focus on raising funds through its $17.5 million public offering, says James R. Mundy, president and chief executive. Mundy also named former ambassador to Tanzania Charles R. Stith, attorney Vesper VESPER - Venus Sounder for Planetary Explorer (NASA) Gibbs Barnes, and accountant Daniel Dennis to the board of directors.
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