FDIC – Page 16 – Regulatory Report

What's up

[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech Federal financial regulation
[ December 23, 2024 ] Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA OCC
[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other

Higher interest rates, tight operating margins leading to declining credit quality in some areas, report finds

February 16, 2024 0

Declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors are becoming clearer, a report from federal bank agencies indicated Friday. According […]

Review of sexual misconduct claims at FDIC could end in second quarter; agency waives restrictions on reporting conduct

February 15, 2024 0

A potential end period for the third-party review of sexual harassment claims within the Federal Deposit Insurance Corp. (FDIC), plus steps taken to ease the ability of individuals to report such activity, was announced in […]

Banking agencies open mandated long-term review of regulations; plan public outreach meetings

February 6, 2024 0

A review of regulations covering the categories of applications and reporting, powers and activities, and international operations was announced Tuesday by the three federal banking agencies, with comments to be collected for 90 days. The […]

Areas of Maine, West Virginia, earn regulatory relief after storms, flooding, landslides, mudslides

February 5, 2024 0

Severe storms and flooding in Maine, and the same in West Virginia – plus landslides and mudslides – have spawned dual “regulatory relief” pronouncements for banks in the states Monday by the federal insurer of […]

54 banks deemed ‘satisfactory,’ 1 ‘outstanding’ under CRA, FDIC reports

February 2, 2024 0

Fifty-four banks that received their Community Reinvestment Act (CRA) ratings from the Federal Deposit Insurance Corp. (FDIC) in November were rated “satisfactory,” according to data released Friday by the agency. One other bank, Norway Savings […]

Changes to call reports to bring them in sync with proposed, new capital rules planned

January 31, 2024 0

Revisions to call reports to synchronize them with proposed, new regulatory capital rules would take effect for the third quarter of next year, the federal deposit insurance agency said Wednesday. According to the Federal Deposit […]

Agency issues one fine for anti-money laundering shortcomings, upholds another issued in 2019

January 26, 2024 0

A $600,000 civil money penalty (CMP) must be paid by a Mississippi bank for its violations of anti-money laundering (AML) laws, the Federal Deposit Insurance Corp. (FDIC) said Friday. The agency said the Bank of […]

FDIC attorney pleads guilty to conspiring to sexually exploit children; faces 15 years to life in prison

January 24, 2024 0

A guilty plea to a charge of conspiracy to sexual exploitation of children was entered Tuesday by an attorney for the federal bank deposit insurance agency, the agency’s inspector general said. According to the Federal […]

Agency sets consumer research gathering for ides of March

January 23, 2024 0

An in-person Consumer Research Symposium sponsored by the federal bank deposit insurance agency is set for March 15 in Arlington, Va., the agency said Tuesday. The Federal Deposit Insurance Corp. (FDIC) said its 12th annual symposium […]

FDIC issues letters demanding five entities stop making ‘false, misleading’ statements about deposit insurance coverage

January 19, 2024 0

Alleged “false and misleading” statements about federal bank deposit insurance coverage have earned five entities demand letters from the federal insurance agency that they stop and take “immediate action” to address the alleged “misstatements,” the […]

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Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

December 23, 2024 0

One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” the federal consumer financial protection [...]
Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

December 23, 2024 0

Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made public Monday. The Office of [...]