FDIC – Page 3 – Regulatory Report

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[ 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
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

One bank earns ‘outstanding’ CRA rating, three more ‘need improvement’ with compliance, results show

November 4, 2024 0

One bank earned an “outstanding” rating for its compliance with anti-redlining rules, and three banks earned “needs improvement” ratings for their compliance, the federal insurer of bank deposits said in its latest results for the […]

Banks urged to extend assistance to borrowers in Grand Canyon tribal lands affected by flooding in August

November 1, 2024 0

Banks serving borrowers dealing with significant property damage from flooding of Havasupai Tribe lands in Arizona are being offered regulatory relief to extend assistance, the Federal Deposit Insurance Corp. (FDIC) said Thursday. In a Financial […]

Current banking conditions to be reviewed by community bank advisory panel

November 1, 2024 0

A discussion on current banking conditions will highlight the next meeting of the community banking advisory committee of the federal insurer of bank deposits set for Nov. 7, the agency said late Thursday. The Federal […]

In continuing fallout over sexual harassment scandal, agency names leader of equal employment opportunity unit

October 31, 2024 0

Employee complaints of discrimination and retaliation at the federal insurer of bank deposits will be overseen by the new leader of the agency’s equal employment opportunity office, the agency said Thursday. The Federal Deposit Insurance […]

Banks now have until May 1 to comply with FDIC’s new official sign requirements

October 18, 2024 0

Federally insured banks have a four-month reprieve from modernized federal deposit insurance official signage requirements under action taken Thursday by the Federal Deposit Insurance Corp. (FDIC). The FDIC Board voted during its open meeting to […]

FDIC continues 2% target ratio for deposit insurance fund; a return to the minimum 1.35% still seen likely ahead of deadline

October 18, 2024 0

The federal bank deposit insurance fund is still expected to reach its statutory minimum of 1.35% of insured deposits ahead of its statutory deadline of Sept. 30, 2028, agency staff said Thursday. The Federal Deposit […]

Bank regulators worked together with law enforcement to secure $1.8 billion in fines against TD Bank

October 18, 2024 0

Fines of $1.8 billion announced Oct. 10 against TD Bank N.A. (TDBNA) for violations of anti-money laundering laws were the result of a coordinated resolution among the federal banking agencies and law enforcement, according to […]

FDIC Board to take up DIF restoration plan, 2025 fund reserve ratio, official sign requirements

October 16, 2024 0

An update on the Deposit Insurance Fund (DIF) restoration plan, the fund’s 2025 designated reserve ratio and a delay in implementation of revised official sign requirements are on the agenda for Thursday’s open meeting of […]

Leader for office battling harassment complaints named at FDIC; brings experience from former agency

October 16, 2024 0

An appointment for the director of an office handling agency employee complaints of harassment and other “interpersonal misconduct” was announced Wednesday by the federal insurer of bank deposits. Hansel J. Cordeiro, an attorney, was named […]

Federal, state regulators jointly focus on meeting financial services needs of Hurricane Milton-affected areas

October 15, 2024 0

Federal financial institution regulators and Florida’s financial regulatory office teamed up in a joint statement Tuesday on their supervisory considerations in addressing the needs of customers and financial institutions affected by Hurricane Milton. In a […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]