FDIC – Page 89 – Regulatory Report

What's up

[ 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

Prohibition of former bookkeeper among July enforcements by FDIC

August 28, 2020 0

A former bookkeeper who was found to have “misappropriated” bank funds for her benefit and that of her family members is permanently barred from future service in any federally insured financial institution under a July […]

UPDATED: ‘Niceville’ man pleads guilty to bilking New Orleans bank (which ultimately failed) of $123 million

August 28, 2020 0

A man from Niceville, Fla., has pleaded guilty to conspiracy to defraud First NBC Bank, the New Orleans-based bank that failed in April 2017. The New Orleans U.S. Attorney said that Gary R. Gibbs, of […]

Rule on orderly liquidation of brokers, dealers in Federal Register Monday

August 28, 2020 0

A final rule on the orderly liquidation of certain brokers or dealers in the event the Federal Deposit Insurance Corp. (FDIC) is appointed receiver under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection […]

Covered Broker-Dealer Provisions under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act

August 28, 2020 0

Title: Covered Broker-Dealer Provisions under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act Subject: Broker-dealers Agency: FDIC Status: Final rule Summary: The Federal Deposit Insurance Corp. (FDIC) and Securities and Exchange […]

NC man charged with PPP loan fraud, allegedly seeking $414k using bogus docs

August 28, 2020 0

Fraudulently seeking more than $414,000 in loans from the program that aims to help small businesses deal with the financial impact of the coronavirus crisis has earned a North Carolina man federal charges of wire […]

Relief for banks working in areas affected by CA wildfires detailed by FDIC

August 28, 2020 0

Steps aimed at providing regulatory relief to banking institutions and facilitate recovery in areas of California affected by wildfires – specifically, Lake, Monterey, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties – was […]

UPDATED: PPP loan forgiveness webinar postponed to Sept. 3

August 27, 2020 0

Loan forgiveness and other issues related to a federal lending program to help businesses face the financial impact of the coronavirus crisis will be the focus of a webinar postponed to next week by federal […]

McWilliams: FDIC initiative seeks to expand support for MDIs, CDFIs

August 26, 2020 0

A framework to match minority depository institutions (MDIs) and community development financial institutions (CDFIs) with investors is being explored by the the Federal Deposit Insurance Corp. (FDIC) in an effort to facilitate greater support for […]

Iowa banks offered guidance in obtaining regulatory relief in wake of ‘derecho,’ other storms

August 26, 2020 0

Steps to help Iowa banks and other financial institutions recover from a devastating “derecho” storm and other tempests earlier in August were released Wednesday by the federal insure of bank deposits. The Federal Deposit Insurance […]

Agencies make final series of interim rules on leverage ratio modification, distribution restrictions, CECL mitigation

August 26, 2020 0

Rules that modify the community bank leverage ratio, ease automatic restrictions on dividend and other distributions and allow banks to mitigate the impact for two years of new accounting standards related to credit losses were […]

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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 [...]