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

Biden urges regulators to reverse changes of previous administration, claiming ‘weakening’ of safeguards for larger banks

March 31, 2023 0

Terming actions by the previous administration on bank regulation a “weakening” of common-sense safeguards and supervision for large regional banks, President Joe Biden (D) late Thursday urged the supervisors to reverse those decisions, which he […]

UPDATED: FDIC seeks to bar 3, impose fines and restitution over alleged bridge loan scheme that cost SBA millions

March 31, 2023 0

A bridge loan scheme that allegedly ended up costing the Small Business Administration an estimated $8.8 million is at the root of a Federal Deposit Insurance Corp. (FDIC) notice in February regarding prohibitions, fines assessments […]

Revised CRA rules still under development; no date given for release by Fed top supervisor

March 29, 2023 0

Revised rules implementing anti-redlining statutes will “support more impactful bank lending, investing, and services in today’s banking environment,” the Federal Reserve’s top supervisor said Wednesday – but he gave no date for when those rules […]

No new data items sought, but a couple tips provided on filing bank call reports due in April

March 29, 2023 0

Instructions and guidance for submitting first-quarter 2023 bank call report data are provided with a Financial Institution Letter (FIL) issued Wednesday by the Federal Deposit Insurance Corp. (FDIC). The call reports, covering the period from […]

Internet ‘neobank’ ordered to stop saying it has federal bank deposit insurance coverage

March 27, 2023 0

A so-called “neobank” which says it provides access to the U.S. banking system has been ordered to stop making phony representations that its customers cryptocurrency is covered by federal bank deposit insurance, the agency that […]

FDIC plans ‘comprehensive review’ of deposit insurance; will propose rule in May for payments to cover costs of two failed banks

March 27, 2023 0

A comprehensive review of the federal bank deposit insurance system, as well as a review of the supervision by the deposit insurance agency of one of the two recently failed banks, will be conducted and […]

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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 [...]

Biden urges regulators to reverse changes of previous administration, claiming ‘weakening’ of safeguards for larger banks

UPDATED: FDIC seeks to bar 3, impose fines and restitution over alleged bridge loan scheme that cost SBA millions

Revised CRA rules still under development; no date given for release by Fed top supervisor

No new data items sought, but a couple tips provided on filing bank call reports due in April

Internet ‘neobank’ ordered to stop saying it has federal bank deposit insurance coverage

FDIC plans ‘comprehensive review’ of deposit insurance; will propose rule in May for payments to cover costs of two failed banks

North Carolina bank takes over SVB loans, deposits; enters in ‘loss-share’ transaction with deposit insurer

UPDATED: Developments in wake of bank failures continue to ripen; timeline offers a look back

Fed’s Bowman: Banking system remains resilient in wake of SVB, Signature Bank closures

‘Business as usual’ for vendors with bridge banks, FDIC advises; contracts must be honored, will be enforced

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