Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Federal regulators on Friday issued a statement urging banks to begin working “without delay” to transition away from LIBOR (the London Interbank Offered Rate) as a reference rate in their loan contracts. “A bank may […]
Sheila C. Bair, the former chairman of the Federal Deposit Insurance Corp. (FDIC) during the 2008 financial crisis, will be the next board chair for mortgage behemoth Fannie Mae as of Nov. 20, the company […]
Public comments on a proposed rule codifying a 2018 statement on the role of supervisory guidance – binding regulators to that guidance and stating that such guidance does not have the force and effect of […]
Receiverships of three federally insured, state-chartered banks – one each in Arizona, Michigan, and Georgia – were terminated Nov. 1 by the Federal Deposit Insurance Corp. (FDIC). The FDIC, in a notice slated for Federal […]
Title: Role of Supervisory Guidance Subject: Supervisory guidance Agency: CFPB, FDIC, Federal Reserve, NCUA, OCC Status: Final rule Summary: The OCC, Board, FDIC, NCUA, and Bureau (collectively, the agencies) adopted a final rule that codifies […]
Six of the 72 banks recently evaluated for compliance with the anti-redlining Community Reinvestment Act (CRA) won evaluation ratings of “outstanding,” according to information released Wednesday by the Federal Deposit Insurance Corp. (FDIC). The remaining […]
A “comprehensive approach” for large banks to use in strengthening and maintaining their operational resilience was issued by federal banking regulators Friday, and followed up with a Financial Institution Letter (FIL) by the Federal Deposit […]
A consent order barring the former president of the failed Enloe State Bank from future service in any federally insured financial institution was issued in September by the Federal Deposit Insurance Corp. (FDIC), according to […]
A proposal outlining and confirming federal financial institution regulators’ use of supervisory guidance for regulated institutions was issued for a 60-day comment period, the regulators announced Thursday. In individual press releases, the federal banking agencies, […]
Information security systems at the federal insurer of bank deposits are operating at a “maturity level” that is not considered to be effective, and the agency’s inspector general has made eight recommendations to address that […]
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