FDIC – Page 43 – Regulatory Report

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[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other

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

June 2, 2022 0

Title: False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo Subject: Misrepresentation of insured status Agency: FDIC Status: Final rule Summary: The Federal Deposit Insurance Corporation is adopting a final […]

Banks with branch offices be forewarned: another ‘summary of deposits’ survey is just around corner

June 1, 2022 0

Banks have all of July to submit their annual survey of branch office deposits for the year ending June 30, the federal bank deposit insurance agency said Wednesday in a letter to all insured institutions, […]

335 banks on FDIC CRA exam schedules in Q3, Q4

May 31, 2022 0

A total of 335 insured banks and thrifts are included on the anti-redlining Community Reinvestment Act (CRA) evaluation schedules of the federal bank deposit insurer from July 1 through Dec. 31, the agency said in […]

Bookkeeper faces $140,000 penalty for allegedly misappropriating bank customer account funds

May 27, 2022 0

Prohibition and a civil money penalty of $140,000 is sought against a bookkeeper who allegedly misappropriated some $181,000 from bank customer accounts over about three years, according to an April notice of intent released Friday […]

FDIC

Banks see big dip in first-quarter net income due largely to provision expense, FDIC data shows; DIF at 1.23%

May 24, 2022 0

Banks’ net income declined $17 billion to $59.7 billion in the first quarter of 2022, a 22.2% drop from the same time a year ago, with growth in provision expense driving that 12-month decline, the […]

Cybersecurity, illicit financial activity, again, among top hazards facing banking industry in 2022

May 20, 2022 0

Risks related to cybersecurity and illicit financial activity are among the top hazards facing banks in 2022, the federal bank deposit insurance agency said in report Friday. In its 2022 Risk Review, the Federal Deposit […]

Comments due June 21 on restoration of SARC under revised supervisory appeal guidelines

May 20, 2022 0

Revised guidelines that restore the federal bank deposit insurer’s independent, intra-agency appeals process to review material supervisory determinations regarding supervised banks are out for public comment until June 21, according to a Federal Register notice […]

Guidelines for Appeals of Material Supervisory Determinations

May 20, 2022 0

Title: Guidelines for Appeals of Material Supervisory Determinations Subject: Supervisory appeals Agency: FDIC Status: Notice and request for comment Summary: On May 17, 2022, the Federal Deposit Insurance Corporation (FDIC) adopted revised Guidelines for Appeals […]

FDIC issues letter on process for seeking MDI designation

May 19, 2022 0

A Financial Institution Letter (FIL) establishing the process for an insured banking institution or applicant for deposit insurance to request recognition by the federal bank deposit insurer as a minority depository institution (MDI) was announced […]

Hawaiian tapped to join MDI advisory group, with meeting set for May 23

May 18, 2022 0

A Hawaiian banker is joining the minority depository institution advisory panel for the federal insurer of bank deposits, the agency said Wednesday. Russell Lau, chairman and chief executive officer of Finance Factors Ltd. in Honolulu, […]

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Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]
Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]