FDIC – Page 8 – 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

FDIC reminds of July 30 deadline for call report filings; new phrasing replaces ‘troubled debt restructurings’

July 11, 2024 0

Federally insured banks generally have until July 30 to file their second-quarter consolidated reports of condition and income, or call reports, the federal bank deposit insurer said in a letter released Thursday. The Federal Deposit […]

2 agencies’ latest CRA ratings releases note 5 banks rated ‘needs to improve,’ 7 ‘outstanding’

July 8, 2024 0

Four “needs to improve,” two “outstanding,” and 58 “satisfactory” Community Reinvestment Act (CRA) evaluation ratings for banks were disclosed in a release Monday by the Federal Deposit Insurance Corp. (FDIC). The FDIC said these ratings […]

Two new FDIC offices will focus on employee claims of misconduct, discrimination

June 21, 2024 0

Two new independent offices have been created within the federal bank deposit insurance agency to address claims of sexual harassment, discrimination, other forms of interpersonal misconduct, and claims of retaliation, the agency announced Friday. The […]

FDIC oks merger of Thrivent Federal Credit Union into new, online Thrivent Bank, also approved for federal deposit insurance

June 21, 2024 0

The federal bank deposit insurer announced dual actions Friday which allow the creation and federal deposit insurance coverage for a new industrial bank in Salt Lake City, Utah, and the merger into that new bank […]

Resolution plans will be required for banks with at least $100 billion in assets under final rule adopted by FDIC

June 20, 2024 0

Banks with at least $100 billion in assets must develop and submit detailed plans demonstrating how they could be resolved “in an orderly and timely manner” under a rule approved Thursday by the board of […]

Rule sets quality control standards for automated valuation models used by mortgage originators, others

June 20, 2024 0

Quality control standards will be required for use of automated valuation models (AVMs) by mortgage originators and secondary market issuers in determining the collateral worth of a mortgage secured by a consumer’s principal dwelling under […]

Briefings about certain bank merger, deposit insurance applications up for FDIC Board consideration

June 19, 2024 0

The subject of briefings on certain merger and deposit insurance applications outstanding for more than 270 days is on the agenda for discussion during a meeting Thursday of the board of the federal bank deposit […]

Compliance exam manual updated with thresholds for TILA, CRA

June 19, 2024 0

Annual thresholds applicable to lending and anti-redlining rules are outlined in revisions to the consumer compliance exam manual published by the federal insurer of bank deposits, the agency said late Tuesday. The Federal Deposit Insurance […]

Wall Street regulator nominated to lead FDIC, would replace current chair embroiled in sexual harassment uproar

June 13, 2024 0

The next leader for the federal bank deposit insurance agency would be a Wall Street regulator and former Treasury Department official if the Senate confirms the nomination announced Thursday by the White House. Christy Goldsmith […]

Some Mississippi banks offered reg relief measures following storms two months ago

June 12, 2024 0

Severe storms in areas of Mississippi – including straight-line winds, tornadoes and flooding — spurred a “regulatory relief” pronouncement Wednesday for banks in areas affected by the storms, according to the federal insurer of bank […]

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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 [...]