Reg Report takes a pause

June 24, 2024 Other 0

RegReport.info is on a break this week, through Friday, June 28. Our coverage of federal financial regulatory news will resume Monday, July 1.

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‘Shortcomings’ — and a ‘deficiency’ – related to derivatives found in living wills for four of eight largest banks

June 21, 2024 0

Weaknesses related to derivative portfolios were identified in the “living wills” of four of the largest banks in the nation, with one of the banks having a “deficiency,” federal banking regulators said Friday, following the release of a review of [...]
Two new FDIC offices will focus on employee claims of misconduct, discrimination

June 21, 2024 0

Two new independent offices have been created within the federal bank deposit insurance agency to address claims of sexual harassment, discrimination, other forms of interpersonal misconduct, and claims of retaliation, the agency announced Friday. The offices, created with approval of [...]
FDIC oks merger of Thrivent Federal Credit Union into new, online Thrivent Bank, also approved for federal deposit insurance

June 21, 2024 0

The federal bank deposit insurer announced dual actions Friday which allow the creation and federal deposit insurance coverage for a new industrial bank in Salt Lake City, Utah, and the merger into that new bank of a similarly named federal [...]
More time made available for comments on extending Fed’s largest payments systems operating hours

June 21, 2024 0

A proposal to expand the operating days of the Federal Reserve Banks’ Fedwire Funds Service and the National Settlement Service (NSS), to include weekends and holidays, will now be open to comments until Sept. 6, a two-month extension, the Federal [...]
Resolution plans will be required for banks with at least $100 billion in assets under final rule adopted by FDIC

June 20, 2024 0

Banks with at least $100 billion in assets must develop and submit detailed plans demonstrating how they could be resolved “in an orderly and timely manner” under a rule approved Thursday by the board of the federal bank deposit insurance [...]
Comments due July 8 on proposed expansion of Fedwire, NSS operating hours

June 20, 2024 0

Wondering if you still have time? You do: Eighteen days (after today) remain of the public comment period for the Federal Reserve’s proposal to expand the Fedwire Funds Service and the National Settlement Service (NSS) operating hours. The Fed on [...]
Rule sets quality control standards for automated valuation models used by mortgage originators, others

June 20, 2024 0

Quality control standards will be required for use of automated valuation models (AVMs) by mortgage originators and secondary market issuers in determining the collateral worth of a mortgage secured by a consumer’s principal dwelling under new rules approved Thursday by [...]
Credit risk on rise, operational risk remains elevated for banks as consumers face challenges, report contends

June 19, 2024 0

Credit risk is rising and operational risk is elevated, as a “maturing economic cycle may cause consumer headwinds,” the regulator of national banks said Tuesday. In its Semiannual Risk Perspective for Spring 2024, the Office of the Comptroller of the [...]
Briefings about certain bank merger, deposit insurance applications up for FDIC Board consideration

June 19, 2024 0

The subject of briefings on certain merger and deposit insurance applications outstanding for more than 270 days is on the agenda for discussion during a meeting Thursday of the board of the federal bank deposit insurance agency, it said late [...]

Reg Report takes a pause

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‘Shortcomings’ — and a ‘deficiency’ – related to derivatives found in living wills for four of eight largest banks

Two new FDIC offices will focus on employee claims of misconduct, discrimination

FDIC oks merger of Thrivent Federal Credit Union into new, online Thrivent Bank, also approved for federal deposit insurance

More time made available for comments on extending Fed’s largest payments systems operating hours

Resolution plans will be required for banks with at least $100 billion in assets under final rule adopted by FDIC

Comments due July 8 on proposed expansion of Fedwire, NSS operating hours

Rule sets quality control standards for automated valuation models used by mortgage originators, others

Credit risk on rise, operational risk remains elevated for banks as consumers face challenges, report contends

Briefings about certain bank merger, deposit insurance applications up for FDIC Board consideration