FDIC – Page 56 – Regulatory Report

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[ January 9, 2025 ] Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval CFPB
[ January 8, 2025 ] Banks in areas affected by California fires may close, OCC proclaims OCC
[ January 7, 2025 ] Final rule limiting use of medical information by creditors, including eligibility for credit, given green light CFPB
[ January 7, 2025 ] CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines CFPB
[ January 7, 2025 ] Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator NCUA

Review of FDIC data collection system finds two key elements ‘unreliable,’ spoiling 100% ‘error-free’ goal

November 23, 2021 0

Two of four key data elements were found “unreliable” in the federal bank deposit insurance agency’s system that is supposed to be error-free and that supports the agency’s supervision and insurance responsibilities, the agency’s inspector […]

Banking agencies finalize cyber incident notification rule, set April 1 effective date

November 18, 2021 0

A final rule on requiring banks’ notification to federal regulators of certain cyber incidents with potentially systemic impacts was approved jointly Thursday by federal banking agencies. The rule is set to take effect April 1, […]

Nothing to see here: Report states ‘no material differences’ among regulators’ accounting, capital standards

November 17, 2021 0

There are no differences in accounting standards, and some technical differences among capital standards, among the federal banking agencies, the three regulators said in a report scheduled to be published Thursday in the Federal Register. […]

Bank, credit union regulators cease COVID-related supervisory ‘flexibility’ for mortgage servicers

November 12, 2021 0

Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]

Year-end 2021 bank call reports will include line to indicate SA-CCR opt-in; DTA instructions unchanged for now

November 10, 2021 0

All three versions of the federal banking agencies’ call reports for supervised institutions will include an item allowing institutions to indicate if they have voluntarily adopted or voluntarily elected the standardized approach for counterparty credit […]

Two banks earn ‘outstanding’ CRA ratings, while a third slapped with ‘significant non-compliance’

November 3, 2021 0

Two banks received “outstanding” ratings for compliance with anti-redlining rules, while one received a rating of “significant non-compliance” in recent evaluations by the federal insurer of bank deposits. The Federal Deposit Insurance Corp. (FDIC) said […]

FDIC says new office will focus on MDIs, CDFIs, other ‘mission-driven’ banks

November 2, 2021 0

A new Office of Minority and Community Development Banking to support the agency’s ongoing engagement with minority depository institutions (MDIs), community development financial institutions (CDFIs), and other “mission-driven” banks was announced Tuesday by the chairman […]

FDIC info security program rated ‘4’ under FISMA metrics, but weaknesses noted

November 1, 2021 0

The overall information security program at the Federal Deposit Insurance Corp. (FDIC) was deemed to be operating at a “maturity level” 4 (out of a possible 5) in an audit report released recently by the […]

Report envisions stablecoins only issued through federally insured banks, credit unions; calls for ‘urgently needed’ congressional action

November 1, 2021 0

Payment stablecoins and their arrangements should be subject to a federal framework on a consistent and comprehensive basis through an act of Congress – including by requiring that stablecoins may only be issued by federally […]

FDIC says MDI panel set to meet Tuesday

October 29, 2021 0

The Federal Deposit Insurance Corp. (FDIC) Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking will hold a virtual open meeting Tuesday, the agency said in an announcement Friday. The agenda for […]

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Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval

January 9, 2025 0

A non-profit organization operating in the United States and Canada is the first to be recognized as a standard-setting body for open banking, the federal consumer financial protection agency said late Wednesday. The application by Financial Data Exchange (FDX) to [...]
Banks in areas affected by California fires may close, OCC proclaims

January 8, 2025 0

National banks and federal savings institutions may close in areas affected by the fires in the Los Angeles area, the national bank regulator said Wednesday. The Office of the Comptroller of the Currency (OCC) said, by its proclamation, it expects [...]
Final rule limiting use of medical information by creditors, including eligibility for credit, given green light

January 7, 2025 0

A regulatory exception that previously permitted a creditor to obtain or use medical information, including medical debt information, is removed under a new rule on medical debt collection issued Tuesday by the federal consumer financial protection agency. The Consumer Financial [...]
CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines

January 7, 2025 0

A lawsuit alleging that consumer reporting agency Experian unlawfully failed to properly investigate consumers’ disputes over information in their credit reports was filed Tuesday by the Consumer Financial Protection Bureau (CFPB). The CFPB said that Experian Information Solutions, Inc. – [...]
Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator

January 7, 2025 0

Credit risk, balance sheet management, and risk to earnings and net worth are among the top supervisory priorities for the federal credit union agency in the new year, it said in a letter to the institutions is supervises Tuesday. The [...]
Fed’s top supervisor announces resignation effective next month in advance of new president

January 6, 2025 0

The top regulatory supervisor for the Federal Reserve will step down from his post in late February but will remain on the board of the agency as he continues to fill his board term which runs to the next decade, [...]
CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans

January 6, 2025 0

A suit filed Monday by the federal consumer financial protection agency says that a financing unit of Clayton Homes, Inc. – the largest manufactured home builder in the U.S. and a wholly owned subsidiary of Berkshire Hathaway, Inc. – provided [...]
Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings

January 3, 2025 0

Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to results for October released Friday [...]