FDIC – Page 9 – Regulatory Report

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

Agencies finalize guidance on reconsiderations of value (ROVs) for real estate sales

July 18, 2024 0

Final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions were issued by all five federal financial institution regulators Thursday, the agencies announced in a joint release. According to the release, the guidance […]

UPDATED: Agencies jointly issue final automated valuation rule setting quality control standards for mortgage lenders

July 17, 2024 0

A final rule designed to ensure credibility and integrity of automated valuation models (AVMs) in mortgages secured by a consumer’s principal dwelling through quality control standards was issued Wednesday by the federal financial regulators and […]

FDIC: Reg relief deployed for banks in wake of Hurricane Beryl

July 16, 2024 0

Some regulatory easing was announced Tuesday to help banks facilitate recovery in areas of Texas affected by Hurricane Beryl earlier this month. As it does in such situations, the Federal Deposit Insurance Corp. (FDIC) said […]

Banking agencies release 2024 CRA-designated geographies list

July 12, 2024 0

An updated, 111-page list of nonmetropolitan middle-income geographies where revitalization or stabilization activities of banks are eligible to receive Community Reinvestment Act (CRA) consideration was released Friday by federal banking agencies. Revitalization or stabilization activities […]

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 […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]