FDIC – Page 36 – Regulatory Report

What's up

[ December 30, 2024 ] Credit union regulator gives green light for some to use investment pilot program NCUA
[ December 30, 2024 ] Agencies, again, extend ‘discretion’ to 2026 on acting against investment funds that own banks FDIC
[ 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

FDIC Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo

December 22, 2022 0

Title: FDIC Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo Subject: Deposit Insurance Agency: FDIC Status: Proposed rule Summary: The Federal Deposit Insurance Corporation […]

Year-end bank call report includes updates on accounting for hedging activities

December 22, 2022 0

Instructions for year-end 2022 call reports, due to be filed by Jan. 30, will include updates for accounting for hedging activities, according to a letter issued Thursday by the federal bank deposit insurance agency. The […]

Full board ahead for FDIC as Senate confirms two-time chairman, vice chairman, member

December 20, 2022 0

A full board, for the first time in years, will be featured at the next meeting of the board for the federal deposit insurance agency now that the Senate has confirmed a chairman and two […]

Credit Suisse, BNP Paribas flagged for ‘deficiencies,’ ‘shortcomings’ in living will submissions made in 2021

December 19, 2022 0

Shortcomings in resolution plans (or “living wills”) for two very large banks were identified by two federal bank regulators, with the agencies calling on the banks to take actions (in one case by May 31, […]

Inflation pushes definitions of ‘small banks’ lower in 2023 for CRA reporting requirements

December 19, 2022 0

Assets of less than $1.053 billion would define the size of a “small bank” under anti-redlining rules for 2023, and assets of at least $376 million would define an “intermediate small bank” under those rules, […]

Fed, FDIC extend comment period on large-bank resolution ANPR

December 15, 2022 0

An additional month was added Thursday to the comment period on an advance notice of proposed rulemaking focused on the orderly resolution of large banks, issued jointly in October by the Federal Reserve and Federal […]

Banking agencies release 2021 CRA small biz, small farm, community development loan data

December 15, 2022 0

Data provided under the anti-redlining Community Reinvestment Act (CRA) on small business, small farm, and community development lending in 2021 was released Thursday by the three federal banking regulators. The data show that a total of 685 […]

Report finds security deficiencies in five areas for FDIC Wi-Fi controls; advises eight fixes

December 14, 2022 0

Non- or partial compliance with Wi-Fi security controls were found in five areas at the federal bank deposit insurance agency, according to a report released Wednesday by the agency’s inspector general. To address those shortcomings […]

FDIC Board gives green light to 6.5% budget increase for ’23; approves appeals guidance

December 13, 2022 0

A $2.4 billion 2023 operating budget that will be 6.5% higher than the previous year’s spending plan was approved Tuesday by the board of the federal bank deposit insurance agency. Also at its meeting Tuesday, […]

Proposal aims to attack misrepresentations of deposit insurance coverage by financial firms

December 13, 2022 0

Differentiating federally insured bank deposits from non-insured savings – for example, from financial products offered by non-federally insured financial firms, such as fintechs – is the aim a rule proposed Tuesday by the federal bank […]

« 1 … 34 35 36 37 38 … 187 »

Credit union regulator gives green light for some to use investment pilot program

December 30, 2024 0

Up to 30 complex federal credit unions (FCUs) will be allowed to engage in investment activities prohibited under portions of federal rules but permitted by statute, under a pilot program approved Monday by the board of the federal credit union [...]
Agencies, again, extend ‘discretion’ to 2026 on acting against investment funds that own banks

December 30, 2024 0

Once again, federal banking agencies said no action will be taken against banks or other firms that sponsor, manage, or advise investment funds and institutional accounts that become principal shareholders of banks. The agencies made the announcement Friday. The agencies [...]
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 [...]