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Sally Helm

👤 Person
183 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
How to start a bank

The regulation process is extremely serious.

Planet Money
How to start a bank

The regulation process is extremely serious.

Planet Money
How to start a bank

The regulation process is extremely serious.

Planet Money
How to start a bank

And it is long. It starts even before you submit your application to state and federal agencies. First, you'll want to meet with the regulators. Be like, I'm thinking of doing this. If I were to put together an application, would you by any chance be interested in reading that application?

Planet Money
How to start a bank

And it is long. It starts even before you submit your application to state and federal agencies. First, you'll want to meet with the regulators. Be like, I'm thinking of doing this. If I were to put together an application, would you by any chance be interested in reading that application?

Planet Money
How to start a bank

And it is long. It starts even before you submit your application to state and federal agencies. First, you'll want to meet with the regulators. Be like, I'm thinking of doing this. If I were to put together an application, would you by any chance be interested in reading that application?

Planet Money
How to start a bank

We're flesh and blood people. That's true. Ingrid White is deputy superintendent for banks with the Ohio Department of Commerce, the Division of Financial Institutions. She's in a couple book clubs, has two big dogs.

Planet Money
How to start a bank

We're flesh and blood people. That's true. Ingrid White is deputy superintendent for banks with the Ohio Department of Commerce, the Division of Financial Institutions. She's in a couple book clubs, has two big dogs.

Planet Money
How to start a bank

We're flesh and blood people. That's true. Ingrid White is deputy superintendent for banks with the Ohio Department of Commerce, the Division of Financial Institutions. She's in a couple book clubs, has two big dogs.

Planet Money
How to start a bank

Ingrid's office in Ohio will eventually give a new bank their charter. That's like a license to do business. And the FDIC, the Federal Deposit Insurance Corporation, they will eventually insure customers' deposits. This is a cornerstone of banking. It was invented after the Great Depression. If you put your money in a bank and that bank fails, it is insured by the government up to $250,000.

Planet Money
How to start a bank

Ingrid's office in Ohio will eventually give a new bank their charter. That's like a license to do business. And the FDIC, the Federal Deposit Insurance Corporation, they will eventually insure customers' deposits. This is a cornerstone of banking. It was invented after the Great Depression. If you put your money in a bank and that bank fails, it is insured by the government up to $250,000.

Planet Money
How to start a bank

Ingrid's office in Ohio will eventually give a new bank their charter. That's like a license to do business. And the FDIC, the Federal Deposit Insurance Corporation, they will eventually insure customers' deposits. This is a cornerstone of banking. It was invented after the Great Depression. If you put your money in a bank and that bank fails, it is insured by the government up to $250,000.

Planet Money
How to start a bank

That helps make it so that we all trust banks, which helps keep the economy stable. These regulators, they want to make sure that a new bank is worthy of that FDIC logo that they'll eventually get to display.

Planet Money
How to start a bank

That helps make it so that we all trust banks, which helps keep the economy stable. These regulators, they want to make sure that a new bank is worthy of that FDIC logo that they'll eventually get to display.

Planet Money
How to start a bank

That helps make it so that we all trust banks, which helps keep the economy stable. These regulators, they want to make sure that a new bank is worthy of that FDIC logo that they'll eventually get to display.

Planet Money
How to start a bank

But the Fortuna Group has banking experience. So regulators are like, yeah, we'd like to see your application. Fortuna has finished step one. Step two, Fortuna submits a draft application.

Planet Money
How to start a bank

But the Fortuna Group has banking experience. So regulators are like, yeah, we'd like to see your application. Fortuna has finished step one. Step two, Fortuna submits a draft application.

Planet Money
How to start a bank

But the Fortuna Group has banking experience. So regulators are like, yeah, we'd like to see your application. Fortuna has finished step one. Step two, Fortuna submits a draft application.

Planet Money
How to start a bank

Yeah, pretty much. It includes the business plan, also the names of the organizers. They're going to have to go through background checks.

Planet Money
How to start a bank

Yeah, pretty much. It includes the business plan, also the names of the organizers. They're going to have to go through background checks.