FDIC

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[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech CFPB
[ December 23, 2024 ] Scheme to illegally steer business to Rocket Mortgage draws CFPB suit CFPB
[ December 23, 2024 ] Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA OCC
[ December 23, 2024 ] OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks OCC
[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB

FDIC serves up reg relief for banks in areas of Indiana hit by severe storms

April 24, 2023 0

The federal bank deposit insurer has activated disaster-related regulatory relief measures for banks in areas of Indiana affected by severe storms, straight-line winds, and tornadoes. The Federal Deposit Insurance Corp. (FDIC) issued a Financial Institution […]

Agencies move to be consistent with GAAP for recognizing, measuring TDRs by creditors

April 21, 2023 0

The elimination under revised accounting rules of recognition and measurement of troubled debt restructurings (TDRs) by creditors, and removal of references to TDRs, led to issuance Friday of an interagency policy statement by the three […]

Plan for special assessments to cover losses of two failed banks expected next month, FDIC Board announces

April 18, 2023 0

Special assessments to recover the estimated $19.2 billion of losses due to uninsured depositors to the federal bank deposit insurance fund resulting from the failures of two banks in March will be proposed through rulemaking […]

Banks in areas of CA, TN eligible for reg relief after torrential rains, tornadoes, mudslides, winds and more

April 13, 2023 0

Banks in areas of California and Tennessee affected by storm damage, flooding, tornadoes, mudslides and wind (among other things) are eligible for regulatory relief from the federal bank deposit insurance agency, it announced Thursday. According […]

Update of FDIC deposit insurance fund restoration plan slated Tuesday

April 12, 2023 0

A semiannual update of the Deposit Insurance Fund (DIF) restoration plan is the only item slated for discussion at the April 18 open meeting of the Federal Deposit Insurance Corp. (FDIC) Board. That discussion could […]

2018 legislation called blameless in SVB, recent bank failures; FDIC vice chair also touches on IRR, deposit insurance coverage

April 12, 2023 0

Legislation enacted in 2018 easing some requirements on bank investment activity had “nothing to do” with the recent failure of a California bank, the vice chairman of the board of the federal bank deposit insurance […]

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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 [...]
Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

December 23, 2024 0

Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, [...]
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 [...]
OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks

December 23, 2024 0

Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, starting Jan. 1, a bank [...]

FDIC serves up reg relief for banks in areas of Indiana hit by severe storms

Agencies move to be consistent with GAAP for recognizing, measuring TDRs by creditors

Plan for special assessments to cover losses of two failed banks expected next month, FDIC Board announces

Banks in areas of CA, TN eligible for reg relief after torrential rains, tornadoes, mudslides, winds and more

Update of FDIC deposit insurance fund restoration plan slated Tuesday

2018 legislation called blameless in SVB, recent bank failures; FDIC vice chair also touches on IRR, deposit insurance coverage

TILA led consumer compliance violations in 2022, but FTC Act abuses more serious, report shows

$60 billion in loans, largely CRE, from Signature Bank up for sale this summer, FDIC announces

Two banks earn ‘outstanding’ CRA ratings from FDIC; a third earns ‘needs improvement’

Inspector general skewers FDIC managers for $4.2 million loss related to telecommunications contract oversight

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

Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks