FDIC – Page 24 – 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

5 key risks – including credit hazards due to CRE, climate-related threats – outlined in FDIC report

August 14, 2023 0

Credit, market, crypto-asset, operational and climate-related financial risks are top hazards facing banks in the year ahead, according to the 2023 version of the federal bank deposit insurance agency’s annual risk review released Monday. The […]

Trio of directors for failed bank plead guilty of scheming to fake records to hoodwink regulator

August 10, 2023 0

Three former board members of a failed Chicago bank have pleaded guilty to conspiring to falsify bank records to deceive federal regulators, according to the inspector general of the federal bank deposit insurance agency; the […]

Pair allegedly duped banks into cashing out mortgages, indictment alleges, through home equity borrowings

August 10, 2023 0

Tricking banks into cashing out the mortgages of homeowners whose identities were apparently stolen – to the tune of $2.2 million – is the charge contained in a grand jury indictment handed down in California […]

GAO reminds banking agencies they are tardy in addressing ‘priority recommendations’ on alternative data, blockchain risks, more

August 8, 2023 0

“Priority recommendations” made by the congressional watchdog – and not yet addressed – for the three federal banking regulators are outlined in reports issued by the agency Tuesday. According to the reports issued by the […]

Five videos updated on key issues including exams, CECL, governance

August 8, 2023 0

While they may never make it to the Netflix “top 10 most watched” programs, the federal insurer of bank deposits announced Tuesday it has updated five videos to help bankers, and others, better understand some […]

FDIC demands that non-bank Unbanked Inc. stop false statements about deposit insurance

August 4, 2023 0

A non-bank company that reportedly claims relationships with two insured depository institutions (IDIs) and asserts the availability of “FDIC-insured” crypto accounts was told Friday that it and certain of its officers must “cease and desist […]

Four banks earned ‘outstanding’ ratings for compliance with anti-redlining laws; none earned lowest scores

August 3, 2023 0

Four banks earned “outstanding” ratings in May for their compliance with rules implementing anti-redlining laws, the federal insurer of bank deposits said Thursday; all the other 55 banks received ratings of satisfactory. No banks earned […]

Council, agencies release latest updates to BSA/AML exam manual

August 2, 2023 0

Updates to the examination manual for procedures related to enforcement of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) procedures were released Wednesday by the umbrella group for federal financial institution regulators. According to the Federal Financial […]

P&A for failed Heartland Tri-State Bank includes shared-loss agreement, FDIC says

July 31, 2023 0

The federal agency that insures bank deposits on Friday entered into a purchase-and-assumption (P&A) agreement with Dream First Bank, National Association, of Syracuse, Kan., to assume all deposits of the failed Heartland Tri-State Bank of […]

Bank, credit union regulators say safety, soundness includes having access to ‘a range of contingency funding resources’

July 28, 2023 0

Depository institutions are urged to regularly evaluate and update their contingency funding plans in a guidance addendum issued jointly Friday by the federal bank, savings association and credit union regulators. The agencies view that having […]

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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 [...]