FDIC – Page 35 – Regulatory Report

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[ January 31, 2025 ] Utah bank faces penalty for ‘deceptive acts, unfair practices,’ including failure to disclose fees FDIC
[ January 31, 2025 ] Credit union worker prohibited after conviction in state court for embezzlement, forgery NCUA
[ January 31, 2025 ] Banking agencies set date for virtual public outreach to review regulations under EGRPRA FDIC
[ January 30, 2025 ] CFPB publishes annual list of consumer reporting companies, large and small CFPB
[ January 30, 2025 ] Military borrowers for cars pay more, longer, report asserts CFPB

Statement raises red flags over ‘liquidity risks’ of deposits from crypto-related firms

February 23, 2023 0

The “potential heightened liquidity risks” presented by certain sources of funding from crypto-asset-related entities is highlighted in a joint statement issued Thursday by federal banking agencies. “When a banking organization’s deposit funding base is concentrated […]

Report finds preparing for crises, risks in cybersecurity, digital assets, as top three FDIC challenges

February 22, 2023 0

Preparing for crises in the banking sector, mitigating cybersecurity risks at banks and third parties, and supervising risks posed by digital assets are the top three challenges for the federal bank deposit insurance agency in […]

Agencies propose changes to call reports resulting from recent lawmaking

February 22, 2023 0

Bank call reports, revised to reflect recent legislation, would receive a three-year lease on life under a rule proposed Tuesday by the federal banking agencies, and announced in a financial institution letter (FIL) Wednesday by […]

Cattle-trading scam that acted as Ponzi scheme earns pair six year prison terms

February 21, 2023 0

A cattle-trading system that is described as a Ponzi scheme and that resulted in millions of dollars in losses to victims of the scam has resulted in six-year prison terms for the individuals who ran […]

Former CEO of First NBC Bank convicted of fraud leading to bank failure

February 21, 2023 0

Ashton J. Ryan Jr., the former top executive of the now-defunct First NBC Bank (New Orleans) was found guilty last week of fraud that contributed to the failure of the nearly $5-billion-in-assets bank in 2017, […]

Agency raises stakes in campaign against deposit insurance pretenders; ‘demands’ four firms cease claims

February 15, 2023 0

Intensifying its campaign to crack down on pretenders to federal deposit insurance coverage, the federal bank deposit insurance agency said Wednesday it “demands” that four entities connected to crypto-asset exchanges and other firms cease making […]

6 banks rated ‘outstanding’ under CRA, 2 ‘needs to improve,’ FDIC reports

February 3, 2023 0

Of the 44 banks that received their federal anti-redlining compliance ratings in November, six of them were rated “outstanding” and two were deemed “needs to improve,” according to data released Friday by the Federal Deposit […]

FDIC, credit union regulator offer guidance on lower HMDA reporting threshold; expect ‘flexible’ approach

February 3, 2023 0

The supervisory approach for the new, lower reporting threshold of 25 closed-end mortgage loans was outlined Friday by two regulators – one for banks, one for credit unions – who both indicated limited action, if […]

‘Outdated’ IT exam program for banks holds weaknesses, needs improvements, report finds

February 1, 2023 0

An information technology (IT) exam program for banks adopted just about seven years ago is now “outdated” and in need of major changes in procedures, according to a report issued Wednesday by the inspector general […]

Agency issues call for papers to present at bank research conference in September

January 30, 2023 0

Theoretical and empirical papers on issues related to the performance and regulation of the financial sector are now being accepted for a bank research conference, hosted by the federal bank deposit insurance agency in late […]

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Utah bank faces penalty for ‘deceptive acts, unfair practices,’ including failure to disclose fees

January 31, 2025 0

A Utah bank was ordered to pay a $650,000 civil money penalty (CMP) in December for engaging in “deceptive acts and unfair practices,” the federal bank deposit insurer said Friday. According to the Federal Deposit Insurance Corp. (FDIC), WEX Bank [...]
Credit union worker prohibited after conviction in state court for embezzlement, forgery

January 31, 2025 0

A former Michigan credit union worker – convicted last fall of embezzlement and forgery – has been served with a notice of prohibition by the federal regulator, the agency said Friday. It was the only such order issued by the [...]
Banking agencies set date for virtual public outreach to review regulations under EGRPRA

January 31, 2025 0

A virtual public outreach meeting for March 6, 2025, is set by federal banking agencies as part of their regular review of regulations – which is required by law, the agencies announced Friday. In joint releases, the agencies noted that [...]
CFPB publishes annual list of consumer reporting companies, large and small

January 30, 2025 0

An updated list identifying dozens of specialty consumer reporting companies as well as the three nationwide firms – Equifax, TransUnion, and Experian – was released Thursday by the Consumer Financial Protection Bureau (CFPB), along with information about steps consumers can [...]
Military borrowers for cars pay more, longer, report asserts

January 30, 2025 0

Military borrowers typically have larger loans, make smaller down payments, and ultimately shoulder higher monthly costs in the car-lending market, the federal consumer financial protection agency said Wednesday. In a report, the Consumer Financial Protection Bureau (CFPB) said that, while [...]
Order rescinding directives on ‘extremist settler violence’ in Middle East lessens bank SAR reporting requirements

January 30, 2025 0

Twin alerts on “Israeli Extremist Settler Violence Against Palestinians in the West Bank,” published last year, were rescinded Wednesday by the Treasury’s top financial crimes law enforcement unit, which effectively lessens reporting requirements on banks. The Financial Crimes Enforcement Network [...]