FDIC – Page 135 – Regulatory Report

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[ January 9, 2025 ] Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval CFPB
[ January 8, 2025 ] Banks in areas affected by California fires may close, OCC proclaims OCC
[ January 7, 2025 ] Final rule limiting use of medical information by creditors, including eligibility for credit, given green light CFPB
[ January 7, 2025 ] CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines CFPB
[ January 7, 2025 ] Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator NCUA

UPDATED: FFIEC cybersecurity assessment tool up for renewal; comments invited

April 4, 2019 0

Federal bank and credit union regulators are inviting comments until June 4 on renewal of the FFIEC Cybersecurity Assessment Tool created to assist financial institutions in assessing their inherent cyber risks and risk management capabilities, […]

5 bank receiverships terminated by FDIC

April 4, 2019 0

The federal bank deposit insurer terminated its receiverships of five banks April 1, all of them several months – in one case, more than a year – after its initial notices that it planned to […]

Agencies issue updated FAQs on CECL to combine, replace earlier versions issued two, three years ago

April 3, 2019 0

Updated “frequently asked questions” (FAQs) about the new accounting standard on credit losses hit the street Wednesday, combining new questions and answers with those issued two and three years ago and replacing others. The Federal […]

Joint Ownership Deposit Accounts

April 3, 2019 0

Title: Joint Ownership Deposit Accounts Subject: Deposit insurance Agency: FDIC Status: Final rule Summary: The FDIC is amending its deposit insurance regulations to update one of the requirements that must be satisfied for an account […]

Contracts with tech service providers often lack ‘sufficient detail,’ agency warns

April 2, 2019 0

Some financial institution contracts with technology service providers lack sufficient detail regarding the contract parties’ respective rights and responsibilities for business continuity and incident response, the federal insurer of bank deposits said Tuesday in a […]

Proposal would limit ‘interconnectedness’ of big banks by discouraging TLAC debt purchases

April 2, 2019 0

“Interconnectedness” of large banking organizations would be limited under a proposal issued by the federal banking agencies Tuesday and aimed at reducing the impact of a failure of a large financial firm. The Federal Deposit […]

Despite ‘no deficiencies’ found in ‘living wills,’ FDIC’s Gruenberg dissents on Northern Trust

March 29, 2019 0

Federal Deposit Insurance Corp. (FDIC) Board Member Martin Gruenberg said he voted against issuing the letter to Northern Trust Corp. regarding its living will, citing unrealistic assumptions about the bank’s proposed transfer of uninsured and […]

Agencies find no deficiencies, shortcomings in ‘living wills’ submitted by 14 big financial firms for 2017

March 29, 2019 0

No deficiencies in resolution plans (or “living wills”) for 14 large, domestic banking and financial firms were identified by the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), the agencies said Friday – unlike […]

Proposal puts to work reg relief law’s provisions excluding custodial deposits from leverage ratio calculation

March 29, 2019 0

Financial institutions mostly engaged in custody banking would be able to exclude those deposits from the supplementary leverage ratio calculation in a proposal issued Friday by the Federal Deposit Insurance Corp. (FDIC) Board. The proposal […]

Proposed rule aims to give large banks a break in recordkeeping requirements

March 29, 2019 0

Thirty-six large banks with more than 2 million deposit accounts each will receive some relief from recordkeeping under one of two proposals issued for comment by the federal insurer of bank deposits Friday. The Federal […]

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Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval

January 9, 2025 0

A non-profit organization operating in the United States and Canada is the first to be recognized as a standard-setting body for open banking, the federal consumer financial protection agency said late Wednesday. The application by Financial Data Exchange (FDX) to [...]
Banks in areas affected by California fires may close, OCC proclaims

January 8, 2025 0

National banks and federal savings institutions may close in areas affected by the fires in the Los Angeles area, the national bank regulator said Wednesday. The Office of the Comptroller of the Currency (OCC) said, by its proclamation, it expects [...]
Final rule limiting use of medical information by creditors, including eligibility for credit, given green light

January 7, 2025 0

A regulatory exception that previously permitted a creditor to obtain or use medical information, including medical debt information, is removed under a new rule on medical debt collection issued Tuesday by the federal consumer financial protection agency. The Consumer Financial [...]
CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines

January 7, 2025 0

A lawsuit alleging that consumer reporting agency Experian unlawfully failed to properly investigate consumers’ disputes over information in their credit reports was filed Tuesday by the Consumer Financial Protection Bureau (CFPB). The CFPB said that Experian Information Solutions, Inc. – [...]
Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator

January 7, 2025 0

Credit risk, balance sheet management, and risk to earnings and net worth are among the top supervisory priorities for the federal credit union agency in the new year, it said in a letter to the institutions is supervises Tuesday. The [...]
Fed’s top supervisor announces resignation effective next month in advance of new president

January 6, 2025 0

The top regulatory supervisor for the Federal Reserve will step down from his post in late February but will remain on the board of the agency as he continues to fill his board term which runs to the next decade, [...]
CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans

January 6, 2025 0

A suit filed Monday by the federal consumer financial protection agency says that a financing unit of Clayton Homes, Inc. – the largest manufactured home builder in the U.S. and a wholly owned subsidiary of Berkshire Hathaway, Inc. – provided [...]
Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings

January 3, 2025 0

Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to results for October released Friday [...]