FDIC – Page 88 – Regulatory Report

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[ January 10, 2025 ] Eying changes ahead this month, FDIC Board vice chair outlines his agenda for new administration FDIC
[ January 10, 2025 ] Bureau seeks public comment on emerging payment mechanisms; proposes rule for how EFTA would cover Federal financial regulation
[ 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

No changes to assessment rates as agency adopts restoration plan for diluted bank deposit insurance fund

September 15, 2020 0

Assessment rates will remain unchanged for institutions insured by the federal bank deposit insurance fund under a restoration plan adopted Tuesday for the agency’s insurance fund, which has been diluted by the massive influx of […]

UPDATED: Agency warns credit unions in advance of Sally; banks given OK to close at their discretion

September 14, 2020 0

Credit unions and banks along the Gulf Coast in the path of the new Hurricane Sally both received guidance from their respective federal regulators Monday. The National Credit Union Administration (NCUA) warned credit unions in […]

NY brothers charged for fraudulently seeking nearly $7 million in PPP loans

September 11, 2020 0

A criminal complaint unsealed Thursday charges two New York brothers for allegedly conspiring and submitting at least eight applications for nearly $7 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business […]

FDIC terminates 3 bank receiverships

September 10, 2020 0

The Federal Deposit Insurance Corp. (FDIC) on Sept. 1 terminated its receiverships of three banks that were closed from 2009 to 2011, according to a Federal Register notice Wednesday. The agency ended its receiverships of […]

500+ banks slated for CRA examinations over next two quarters

September 9, 2020 0

Federal bank regulators have released Community Reinvestment Act (CRA) examination schedules showing 508 banks and savings associations scheduled for evaluation for compliance with anti-redlining rules over the fourth quarter of this year and the first […]

FDIC Board meets next Tuesday on restoration plan for Deposit Insurance Fund

September 9, 2020 0

A memorandum and resolution on a Deposit Insurance Fund (DIF) restoration plan will be discussed during an open meeting next Tuesday by the Federal Deposit Insurance Corp. (FDIC) Board, which will be viewable online via […]

Comment deadline on proposed flood insurance Q&A update pushed to Nov. 3

September 8, 2020 0

Federal regulators have extended until Nov. 3 the public comment deadline on their proposed update to interagency questions and answers regarding flood insurance, the agencies announced recently. In a Sept. 1 release, the regulators – […]

FDIC’s June CRA ratings of banks include 3 ‘outstanding,’ 3 ‘needs to improve’

September 8, 2020 0

Of the 76 banks assigned Community Reinvestment Act (CRA) evaluation ratings in June, three were found to be “outstanding” and three were rated “needs to improve,” according to results released Friday by the Federal Deposit […]

Report outlines risks of ‘regulatory capture’ related to documentation of bank examiners’ findings

September 8, 2020 0

Risks of “regulatory capture” – the phenomenon of a regulator acting in the interest of the regulated industry rather than the public interest – could be better documented by the federal insurer of bank deposits, […]

MA man who faked own death to escape COVID stimulus fraud charges indicted; alleged co-conspirator pleads guilty

September 8, 2020 0

A Massachusetts man who allegedly conspired to seek more than $500,000 in forgivable loans through the Small Business Administration (SBA) Paycheck Protection Program (PPP) – and who reportedly faked his own death following charges and […]

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Eying changes ahead this month, FDIC Board vice chair outlines his agenda for new administration

January 10, 2025 0

Work on a “new direction” for the federal bank deposit insurer will begin on Jan. 20, the likely next acting chairman of the agency’s board said Friday, including a lesser focus on process, an “open-minded approach” to innovation and technology, [...]
Bureau seeks public comment on emerging payment mechanisms; proposes rule for how EFTA would cover

January 10, 2025 0

Requirements that apply to emerging payment mechanisms – such as those used in video gaming platforms — are the subject of a proposed interpretive rule issued Friday by the federal consumer financial protection agency. The proposal looks at such payment [...]
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 [...]