FDIC – Page 176 – 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

GAO completes Deposit Insurance Fund, FSLIC Resolution Fund audits, notes FDIC progress with information systems access, more

February 16, 2018 0

The Government Accountability Office (GAO) this week released completed audit reports for the financial statements of the Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF) for the […]

‘More work’ needed in living wills process, which has been ‘enormously helpful,’ FDIC leader says

February 16, 2018 0

The “living wills” process for resolving the largest U.S. financial institutions has proven “enormously helpful” to both firms and regulators, but there is more work to be done in four particular areas to improve the […]

Even with $1.1 billion in 2017 losses, DIF inches closer to reserve ratio target, annual report shows

February 16, 2018 0

Posting losses of $1.1 billion, but which were absorbed by premium assessments on insured banks, the Federal Deposit Insurance Corp. (FDIC) Deposit Insurance Fund (DIF) finished fiscal year 2017 with a reserve ratio of 1.28% […]

Rule removes ‘external credit ratings’ from insurer’s international bank regulations

February 15, 2018 0

References to “external credit ratings” related to permissible investment activities and pledging of assets have been removed from international banking regulations by the federal deposit insurer and replaced with “appropriate standards of creditworthiness.” In a […]

FDIC, FSOC nominees move on easily – not so much for Fed nominee Goodfriend

February 8, 2018 0

Nominations for the chairman of the Federal Deposit Insurance Corp. (FDIC) Board, a member of the Federal Reserve Board and the insurance representative for the Financial Stability Oversight Council (FSOC) were all approved Thursday by […]

Kentucky bank earns ‘outstanding’ CRA rating; four others ‘need to improve’

February 6, 2018 0

One bank receiving an “outstanding” rating and four others receiving “needs to improve” scores were among the 43 financial institutions listed in evaluations during November for compliance with the Community Reinvestment Act (CRA), released by […]

FDIC joins other federal banking regulators in issuing 2018 stress test scenarios

February 6, 2018 0

The Federal Deposit Insurance Corp. (FDIC) Tuesday became the third federal banking regulator to issue its stress test scenarios for 2018 for certain financial institutions with more than $10 billion in assets. According to the […]

Proposal would amend swap margin requirements to conform with QFC restrictions

February 5, 2018 0

Swap margin requirements would be amended to conform with recent rule changes that impose new restrictions on certain qualified financial contracts (QFCs) of systemically important banking organizations, five federal agencies – including the three federal […]

Banking agencies report ‘no material differences’ in accounting standards; ‘generally increase quantity/quality of capital’

February 2, 2018 0

No material differences, as of Sept. 30, have been identified in the accounting standards of regulators applicable to financial institutions, according to the federal banking agencies in a report to congressional committees last week. The […]

Male outgoing board chairman, to be replaced by female, extols FDIC record of hiring women for top roles

January 31, 2018 0

Citing his agency’s priority of promoting the advancement of women in the workplace, outgoing Federal Deposit Insurance Corp. (FDIC) Board Chairman Martin Gruenberg told a Washington group Tuesday that females hold 38.5% of the agency’s […]

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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 [...]