FDIC – Page 90 – 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

Contractor said to have defrauded CARES Act program for $841,000 is charged with wire fraud, money laundering

August 26, 2020 0

The owner and manager of a contracting and construction company in Brooklyn Park, Minn., has been charged with two counts of wire fraud and two counts of money laundering related to alleged fraud against the […]

FDIC: Bank deposits up $1 trillion+ in Q2, net income down 70% year-over-year; average ROA at 0.36%

August 25, 2020 0

Insured banks saw rapid deposit growth during the second quarter and a deep decline in net income, year over year, amid ongoing economic strains related to the coronavirus (COVID-19), the Federal Deposit Insurance Corp. (FDIC) […]

FDIC proposes revisions to policy statement on minority depository institutions

August 24, 2020 0

Revisions to its policy statement on how the agency will encourage and preserve minority depository institutions (MDIs) – including, among other things, in the area of technical assistance – were proposed by the Federal Deposit […]

In change to supervisory appeals process, agency proposes new, independent office

August 24, 2020 0

A new office to consider supervisory appeals, which would be independent with final authority in resolving appeals, would be established under a proposal issued Friday by the federal insurer of bank deposits. Under the proposal […]

BSA due diligence regarding ‘politically exposed persons’ discussed in joint agency statement

August 21, 2020 0

A joint statement from regulators Friday seeks to clarify how banks and credit unions can apply a risk-based approach to politically exposed persons (PEPs) – and this is not interpreted to include U.S. public officials […]

UPDATED: Rule easing conditions for hiring convicted individuals to take effect next month

August 19, 2020 0

A final rule narrowing the conditions for required written consent from the banking regulator to hire individuals with minor criminal offenses on their records will take effect Sept. 21, according to the agency’s notice in […]

Agency eschews ‘in-depth loss review’ for Nebraska bank, first one closed in 2020

August 18, 2020 0

An “in-depth review of loss” will not be conducted over the failure of a Nebraska bank early this year that cost the federal bank savings insurance program about $14 million in losses, the agency said […]

Mid-year bank performance data to be released next week

August 18, 2020 0

Mid-year bank performance numbers – which should reflect the impact of the coronavirus crisis in detail on the nation’s banking industry – will be released by the federal insurer of bank deposits Aug. 25, the […]

Transparency on BSA/AML enforcement aim of joint agency statement (supersedes statement from 2007)

August 13, 2020 0

A statement intended to clarify and provide transparency on how regulators evaluate enforcement actions required by law in response to Bank Secrecy Act/anti-money laundering (BSA/AML) violations was issued jointly by federal bank and credit union […]

FDIC holding four deposit insurance seminars from September to December

August 12, 2020 0

Bank employees and bank officers are the target audience for a series of four identical deposit insurance seminars scheduled to be held remotely between Sept. 15 and Dec. 10 by the Federal Deposit Insurance Corp. […]

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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 [...]