FDIC – Page 141 – Regulatory Report

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[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other

Advisory alerts banks to FCRA safe harbor for private education loans set for rehabilitation

February 4, 2019 0

A private education loan with a previously reported default that is earmarked for rehabilitation under provisions of regulatory relief legislation enacted last spring is entitled to a safe harbor from federal credit reporting requirements, federal […]

Final guidance out for 8 biggest banks’ ‘living wills’

February 1, 2019 0

Final guidance for 2019 and later resolution plans (“living wills”) that the eight largest, complex U.S. banking institutions are required to submit each July 1 is slated for publication in the Federal Register Monday. The Federal […]

Delayed by shutdown, final rule on treatment of reciprocal deposits poised to take effect in March

February 1, 2019 0

A final rule on treatment of banks’ reciprocal deposits under the recently enacted regulatory reform law will take effect 30 days after publication in the Federal Register – slated Monday – for an early March […]

Limited Exception for a Capped Amount of Reciprocal Deposits from Treatment as Brokered Deposits

February 1, 2019 0

Title: Limited Exception for a Capped Amount of Reciprocal Deposits from Treatment as Brokered Deposits Subject: Brokered deposits Agency: FDIC Status: Final rule Summary: The FDIC is amending its regulations that implement brokered deposits and […]

Final guidance: 2019 and subsequent resolution plan submissions

February 1, 2019 0

Title: Final guidance: 2019 and subsequent resolution plan submissions Subject: Resolution plans Agency: FDIC, Federal Reserve Status: Final guidance Summary: The Board and the FDIC are adopting this final guidance for the 2019 and subsequent resolution […]

FDIC hosts webinar Feb. 19 on standardized export of imaged loan docs

January 31, 2019 0

A one-hour webinar on the standardized export of imaged loan documents initiative will be held from 2 – 3 p.m. ET on Feb. 19, the Federal Deposit Insurance Corp. (FDIC) said in a Financial Institution Letter […]

FDIC to terminate receiverships of two MI, CA banks

January 30, 2019 0

The federal bank deposit insurer plans to terminate its decade-long receiverships of two banks within 30 days and will accept comments before that period runs out. The Federal Deposit Insurance Corp. (FDIC) will terminate the […]

FDIC continues 2% reserve ratio target for insurance fund

January 30, 2019 0

The “designated reserve ratio” for the federal bank deposit insurance fund will remain at 2% in 2019, unchanged from last year, according to a notice published Thursday in the Federal Register. The designated reserve ratio […]

Agency publishes inflation-adjusted increases in fines for New Year

January 30, 2019 0

An increase in maximum civil money penalties (CMPs), including of up to more than $2 million in the top tier, up from about $1.9 million – will be published by the Federal Deposit Insurance Corp. (FDIC) […]

Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules

January 30, 2019 0

Title: Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules Subject: Interlocks Agency: FDIC, Federal Reserve, OCC Status: Final rule Summary: The OCC, the Board, and the FDIC (collectively, […]

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Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]
Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]