Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Violations of federal flood insurance requirements will cost a San Francisco-based bank $281,000 for failing to tell a borrower it needed the insurance for property it was purchasing through a loan from the bank, the […]
Banks’ community development activities to help revitalize areas in Puerto Rico and the U.S. Virgin Islands following Hurricane Maria will continue to receive favorable Community Reinvestment Act (CRA) for 36 months, federal regulators said Thursday. […]
Driven mostly by large institutions, net interest margins at federally insured banks fell to a record low by the end of the first quarter of this year, the federal insurer of bank deposits reported Wednesday, […]
Final changes to bank call reports were announced Tuesday by the federal banking agencies, with few if any revisions to those proposed in December and February; the effective dates for the changes are June 30 […]
The owner of a wedding planning company last week pleaded guilty to filing fraudulent loan applications seeking more than $3 million in forgivable Paycheck Protection Program (PPP) loans and used the proceeds he did receive […]
Title: Request for Information and Comment on Digital Assets Subject: Digital assets Agency: FDIC Status: Request for information Summary: The Federal Deposit Insurance Corporation (FDIC) is gathering information and soliciting comments from interested parties regarding […]
Ratios used to determine whether a bank may establish or buy a branch (or branches) without triggering prohibitions on doing so primarily for producing deposits were released Friday by federal banking agencies. The “host state […]
Current and potential digital asset activities – which are being “increasingly” explored by banks – are the subject of the latest information gathering by the federal insurer of bank deposits, the agency said Monday. In […]
Measures that would repeal the “true lender” rule for banks, restore the federal credit union regulator’s short-lived, direct authority over third-party vendors, and set a trigger for the countercyclical capital buffer (CCyB) for banks are […]
An extension to July 1 for the deadline to comment on how financial institutions use artificial intelligence (AI) in their activities was announced Monday by financial institution regulators. The invitation to comment was provided in […]
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