FDIC – Page 177 – 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 faults regulators for falling behind on analyzing impact of rules on small entities

January 30, 2018 0

Financial regulators should develop and implement specific policies and procedures to consistently comply with mandates from Congress for analyzing the impact of regulations on smaller institutions, according a report issued Tuesday. In its report, the […]

Fed, deposit insurer put foreign banks on notice for ‘living wills’ by year’s end

January 29, 2018 0

Expectations for “living wills” by 19 foreign-owned banks with operations in the U.S. were communicated to the institutions by the Federal Reserve and Federal Deposit Insurace Corp. (FDIC) Monday. The messages from the regulators told […]

After 1974 guilty plea for pot distribution, man wins in December consent to work again at financial institution

January 26, 2018 0

After 43 years, a Virginia man has been granted his request to participate in the conduct of the affairs of any insured depository institution after being barred from doing so in 1974, when he pleaded […]

Regulators offer CRA consideration for banks beyond hurricane-ravaged areas who lend a hand

January 25, 2018 0

Favorable consideration on community reinvestment requirements will be granted to institutions outside of hurricane-ravaged areas of the U.S. Virgin Islands and Puerto Rico when they help to revitalize or stabilize the areas, federal banking agencies […]

If confirmed, McWilliams would be youngest woman to lead FDIC – and youngest financial regulatory agency leader

January 24, 2018 0

At 43, you might think that Federal Deposit Insurance Corp. (FDIC) Board Chairman nominee Jelena McWilliams qualifies as the youngest ever to be considered for the post leading the nation’s bank deposit insurance fund. But […]

FDIC chairman nominee calls herself ‘uniquely prepared’ to be leader of agency

January 23, 2018 0

The nominee to lead the federal bank deposit insurance agency said she is “uniquely prepared” for the job, citing her background as a former congressional and Federal Reserve staffer and as a bank executive. In […]

At last minute, White House shifts McWilliams’ nomination at FDIC to take seat of Hoenig, whose term soon expires

January 23, 2018 0

A last-minute change in the nomination of a new chairman for the bank insurance fund board would result in the vice chairman of the board leaving by March, according to new information posted by the […]

Confirmation hearing for FDIC chair, Fed Board nominees still scheduled

January 22, 2018 0

Despite uncertainty over a government shutdown, a confirmation hearing remains scheduled Tuesday for Jelena McWilliams and Marvin Goodfriend, nominees for (respectively) the chairman of the Federal Deposit Insurance Corp. (FDIC) Board and member of the […]

FDIC, banking regulators issue guidance for new tax law; effective for YE17 call reports

January 18, 2018 0

Guidance for the new tax law concerning accounting and reporting implications was distributed Thursday by federal banking agencies to give banks and savings associations insights about how the new law will affect their financial statements […]

House lawmakers continue ‘reg relief’ campaign, marking up latest laundry list of provisions

January 16, 2018 0

At least 17 “regulatory relief” items – including several provisions based on similar items contained in the already-House approved H.R. 10, the Financial CHOICE Act – will be marked up by the Financial Services Committee […]

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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 [...]