The FDIC and the OCC have issued a Notice of Proposed Rulemaking that seeks to establish a standard definition for what constitutes an “unsafe or unsound practice.” “Too often, examiners focus on a litany of process-related items that are unrelated to a bank’s current or future financial condition,” Acting FDIC Chairman Travis Hill said, in a statement outlining the NPRM, which was unanimously adopted by the agency board. … Continue Reading| Consumer Finance Monitor
As the government shutdown drags on, some financial services programs—particularly housing programs– are being affected. The CFPB is funded through the Federal Reserve system, not through annual appropriations, and technically is still operating, although as we have reported previously many CFPB employees are not being permitted to work. (That CFPB funding mechanism was the subject of a Supreme Court case and the court found the funding system constitutional.)… Continue Reading| Consumer Finance Monitor
The FDIC and the OCC have approved the joint publication of a Notice of Proposed Rulemaking that would codify the removal of reputational risk from their supervisory programs. “Examining for reputation risk can result in agency examiners implicitly or explicitly encouraging institutions to restrict access to banking services on the basis of examiners’ personal views of a group’s or individual’s political, social, cultural, or religious views or beliefs, constitutionally protected spee...| Consumer Finance Monitor
As lawmakers consider deposit insurance reform, Senate Banking Committee Chairman Tim Scott (R-S.C.) is asking the FDIC to provide additional information about the amount of uninsured deposits in the U.S. banking system and the cost to banks should the deposit insurance limit be increased. The post Sen. Scott seeks more info from FDIC on deposit insurance reform appeared first on ABA Banking Journal.| ABA Banking Journal
The Financial Crimes Enforcement Network and U.S. banking agencies today released guidance for financial institutions on how to share financial| ABA Banking Journal
The American Bankers Association today recommended that federal regulators quickly finalize a series of proposed changes to the enhanced supplementary| ABA Banking Journal
The American Bankers Association yesterday said it supports proposed revisions to the Call Report that ease a compliance burden on| ABA Banking Journal
A White House task force yesterday released a report on strategies to strengthen U.S. leadership in digital assets, including policy| ABA Banking Journal
The House Financial Services Committee this week advanced six bills supported by the American Bankers Association, including legislation concerning the| ABA Banking Journal
The Federal Reserve, FDIC and Office of the Comptroller of the Currency today published the fourth in a series of| ABA Banking Journal
The embattled crypto-service bank got a lifeline of liquidity in the fourth quarter of 2022 from the Federal Home Loan Bank System, raising new questions about both the Home Loan banks' purpose and crypto contagion.| American Banker
On July 14, the OCC, Federal Reserve, and FDIC announced the release of a joint statement clarifying how existing laws and regulations apply to| Consumer Finance and Fintech Blog
FDIC insurance is a great way to protect your hard-earned wealth. Read this blog to learn how it works and how to maximize it.| Tencap LLC
Banking regulators today announced they have temporarily paused certain appraisal requirements for real estate-related transactions in Los Angeles County in| ABA Banking Journal
The FDIC announced today plans to alter its approach to insured depository institution resolution planning. According to a news release,| ABA Banking Journal
If you didn't have the opportunity to walk the exhibit hall floor at Lucas Oil Stadium, check out these top products and apparatus from the conference| EMS1
Acting FDIC Chairman Travis Hill today released a list of priorities for the agency in coming months, promising to revisit| ABA Banking Journal
The FDIC yesterday sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the| ABA Banking Journal
A proposed rule to establish uniform financial data standards across regulatory agencies should either be revised to comply with federal| ABA Banking Journal
The First National Bank of Lindsay in Lindsay, Oklahoma, was closed Friday by the Office of the Comptroller of the| ABA Banking Journal
The FDIC has released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas| ABA Banking Journal
The FDIC board this week reviewed the first round of bank merger applications under a new policy that requires automatic| ABA Banking Journal
The Deposit Insurance Fund balance was $129.2 billion at the end of the second quarter of 2024, up $7.5 billion| ABA Banking Journal
Four federal agencies today proposed a joint rule that would align each agency's Bank Secrecy Act compliance program requirements with| ABA Banking Journal
Federal banking regulators today made available the 2024 list of distressed or underserved nonmetropolitan middle-income geographies. Distressed or underserved nonmetropolitan| ABA Banking Journal
Five agencies today issued final guidance to highlight what they said are the risks associated with deficient residential real estate| ABA Banking Journal
Bank regulators have failed to consistently document their analyses and reviews of proposed and existing rules, with the Federal Reserve| ABA Banking Journal
Six federal agencies today issued a final rule to regulate the credibility of algorithmic models used in real estate valuations.| ABA Banking Journal
The American Bankers Association and two banking associations today asked the FDIC to extend by one year the compliance deadline| ABA Banking Journal
The FDIC has been faulted for a culture plagued by a lack of accountability. Where does that failure come from, exactly?| Radical Compliance
The FDIC released a scathing report of the agency’s own failure to uphold a culture of compliance and accountability. Let's get into it.| Radical Compliance
