CFPB Monitor

JANUARY 25, 2021

The Rule will apply to a parent company of an ILC that is granted deposit insurance on or after April 1, 2021, or a parent company whose control of an ILC by reason of a change in control or merger occurs on or after April 1, 2021. based bank, Rakuten Bank America.

FDIC 78

FDIC Utah America Financial Technology 78

CFPB Monitor

FEBRUARY 14, 2022

With Democrats now firmly in control of the FDIC, Acting Chairman Martin Gruenberg released a list of the FDIC’s priorities for 2022. CRA reform will be the FDIC’s top priority. (In

FDIC 78

FDIC Community System Meeting 78

Jack Henry

DECEMBER 9, 2021

A September 2021 publication from the FDIC sheds light on the various reasons community banks have for investing in their digital strategies (shown in Figure 1).

Strategy 148

Strategy Digital Strategies FDIC Community Bank 148

CFPB Monitor

APRIL 8, 2021

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The final rule also requires a third party relying on either of two Designated Exceptions (referred to as the “25 percent test” and the “enabling transactions test”) to provide written notice to the FDIC.

FDIC 78

FDIC Resources Regulation Compliance 78

CFPB Monitor

APRIL 26, 2021

The Attorney Generals of the six states and District of Columbia who filed a lawsuit against the FDIC to set aside its “ Madden -fix” rule have filed a motion for summary judgment in the case. Cross-motions for summary judgment have been filed in that case and oral argument on the motions is scheduled for May 7, 2021.

FDIC 78

FDIC District of Columbia California Regulation 78

CFPB Monitor

MAY 26, 2021

The FDIC has filed a motion for summary judgment in the lawsuit filed by the Attorney Generals of six states and District of Columbia to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the FDIC’s opposition to the summary judgment motion filed by the AGs.

FDIC 78

FDIC District of Columbia Regulation California 78

CFPB Monitor

MAY 11, 2021

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. First, it is an example of the FDIC taking a UDAP enforcement action based on collection practices, which has not been a common theme of FDIC actions in the past.

FDIC 78

FDIC Lending Trends Regulation 78

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

Abrigo

SEPTEMBER 15, 2022

More construction loan monitoring ultimately decreases loan default, according to a new FDIC Center for Financial Research working paper. While it doesn't necessarily reflect the views of the FDIC, the paper includes preliminary findings from research by FDIC staff and an FDIC Visiting Scholar. On-site inspections.

Study 195

Study FDIC Lending Risk Management 195

CFPB Monitor

JULY 23, 2021

The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “ Madden -fix” rule. The reply responds to the AGs’ opposition to the FDIC’s summary judgment motion. Oral argument on the motions is scheduled for August 6, 2021.

FDIC 78

FDIC California Compliance Tools 78

CFPB Monitor

AUGUST 23, 2022

The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. In the guidance, the FDIC addresses potential risks arising from multiple re-presentment NSF fees, risk mitigation practices, and the FDIC’s supervisory approach. .

FDIC 78

FDIC Compliance System Regulation 78

PYMNTS

DECEMBER 16, 2020

resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. The stars of financial services in 2021 will have something to do with credit,” Wain said, noting that the days of basic checking or demand draft accounts (DDA) are over. You can’t be a star with the DDA in 2021.”.

United States 168

United States FDIC California Mobile 168

Perficient

FEBRUARY 16, 2022

The NY Fed conducted this research on stablecoins as the circulating supply of stablecoins jumped fivefold to nearly $130 billion (as of September 2021). Although not stated, FDIC insurance of stablecoin deposits would almost have to be required. Further Reading.

New York 294

New York cryptocurrency Security FDIC 294

CFPB Monitor

DECEMBER 14, 2021

The CFPB has published its Fall 2021 rulemaking agenda as part of the Fall 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions. Those items remained inactive throughout former Director Kraninger’s tenure and continue to be listed as inactive for purposes of the Fall 2021 agenda.

Lending 78

Lending FDIC Regulation Data 78

CFPB Monitor

MARCH 17, 2021

On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. The FDIC’s request mirrors those by shareholder activists to obtain greater disclosure from corporate boards on the efficacy of their diversity programs.

FDIC 78

FDIC CA Policies Compliance 78

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Automated overdraft programs. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

CFPB Monitor

DECEMBER 22, 2020

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs). Brokered Deposits.

FDIC 78

FDIC Capital National Regulation 78

CFPB Monitor

JUNE 23, 2021

Oral argument on the motions was scheduled for May 7, 2021 but on May 6, the Clerk issued a notice vacating the hearing without setting a new date. In opposing the FDIC’s summary judgment motion, the AGs’ primary arguments are: The FDIC rule is not entitled to deference because Section 27 of the Federal Deposit Insurance Act (12 U.S.C.

FDIC 78

FDIC California 78

ABA Community Banking

MARCH 1, 2022

FDIC-insured banks and savings institutions earned $63.9 billion in the fourth quarter of 2021, a 7.4% billion, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Rise in Fourth Quarter, Full Year appeared first on ABA Banking Journal.

FDIC 49

FDIC Report Community Bank Community 49

PYMNTS

DECEMBER 23, 2020

The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. 2021 And Beyond. If we can help this next generation just ultimately be smarter and more educated as it pertains to money, I think we'll all be better off.”.

Fintech 322

Fintech Cards Lending FDIC 322

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard. Non-PBE: December 15, 2021.

Policies 186

Policies Report Capital FDIC 186

CFPB Monitor

DECEMBER 8, 2022

The parent company of an ILC with a deposit insurance application approved after September 23, 2021 would be subject to the supervisory authority of its “primary financial regulatory agency” as defined in Section 2 of Dodd-Frank (12 U.S.C. 5301) (e.g.

FDIC 78

FDIC Company Industry Regulation 78

ABA Community Banking

SEPTEMBER 8, 2021

FDIC-insured banks and savings institutions earned $70.4 billion in the second quarter of 2021, a 281% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Increase 281% in Second Quarter appeared first on ABA Banking Journal.

FDIC 45

FDIC Report Community Bank Community 45

Abrigo

JULY 20, 2021

Investors buy these loans because the interest rates are generally high compared to the risk, as the only risk the investor incurs is prepayment risk," the FDIC said in a " Supervisory Insights ” article. 2021 Business Lending Survey Results. "In the secondary market, guaranteed loans are liquid and command a premium. SBA Lending.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

Investors buy these loans because the interest rates are generally high compared to the risk, as the only risk the investor incurs is prepayment risk," the FDIC said in a " Supervisory Insights ” article. 2021 Business Lending Survey Results. "In the secondary market, guaranteed loans are liquid and command a premium. SBA Lending.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

MARCH 17, 2022

The Federal Reserve Board, OCC, and FDIC provided two hypothetical scenarios: baseline and severely adverse. reactivity inflation and interest rates is very similar to October 2021 and January 2022 consensus projections that were utilized with the Blue Chip Economic Indicators report as well as the Blue Chip Financial Forecast.

Capital 195

Capital Regulation Risk Management Community 195

Abrigo

JANUARY 4, 2023

Of that group of users, the Federal Trade Commission (FTC) reports that since the beginning of 2021 through the first quarter of 2022, more than 46,000 people have reported losing over $1 billion in crypto scams. Of course, crypto is not insured by the Federal Deposit Insurance Corporation (FDIC) and is a risky investment.

social media 195

social media Fraud cryptocurrency Trends 195

PYMNTS

MAY 4, 2020

The pandemic hasn’t been all gold for FinTech startups, though; many have had to walk back plans to go public until 2021 due to the market chaos. By partnering with a bank, users can access the service, which has debit cards and is backed by the Federal Deposit Insurance Corporation (FDIC). In February, Robinhood was ranked No.

FDIC 131

FDIC Fintech Millennials Management 131

ABA Community Banking

NOVEMBER 30, 2021

FDIC-insured banks and savings institutions earned $69.5 billion in the third quarter of 2021, a 35.9% increase from a year before, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Up in Third Quarter as Capital, Liquidity Levels Remain Strong appeared first on ABA Banking Journal.

FDIC 45

FDIC Capital Report Community Bank 45

ABA Community Banking

MARCH 31, 2022

The FDIC said today that 99% of the banks it supervises were rated satisfactory or better for consumer compliance and Community Reinvestment Act compliance, as of the end of 2021. The post 99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance appeared first on ABA Banking Journal.

FDIC 45

FDIC Compliance Community Community Bank 45

American Banker

JUNE 8, 2023

The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.

Mississippi 74

Mississippi FDIC Lending Community 74

PYMNTS

AUGUST 4, 2020

In an announcement, the bank said it would work with Google to debut a co-branded, FDIC-insured, digital-only bank account next year. To that end, BBVA was one of six banks that said on Monday (Aug.

Google 298

Google Digital Banking Course Branding 298

Jeff For Banks

MAY 30, 2024

In December 2021, when the Fed Funds Rate stood at 0-25 basis points and prior to the Fed's tightening beginning in the first quarter of 2022, there were $18.2 trillion in domestic deposits, according to the FDIC's Statistics at a Glance. trillion in total assets at December 2021 to $6.1 What happened? Louis Fed, went from $5.2

Strategy 106

Strategy St. Louis FDIC Retail 106

CFPB Monitor

DECEMBER 2, 2020

On Monday, the FRB, FDIC, and OCC issued a “ Statement on LIBOR Transition ” that encourages banks to transition away from the London Inter-Bank Offered Rate (LIBOR) as soon as possible, and in any event by December 31, 2021. .

FDIC 78

FDIC Operations 78

CFPB Monitor

JULY 21, 2021

Last week, the OCC, Federal Reserve Board, and FDIC issued proposed guidance for banking organizations on managing risks associated with third-party relationships, including those with financial technology-focused entities such as bank/fintech sponsorship arrangements. On August 6, 2021 from 12:00 p.m. to 1:00 p.m.

Risk Management 78

Risk Management Management FDIC Financial Technology 78

ABA Community Banking

MAY 26, 2021

FDIC-insured banks and savings institutions earned $76.8 billion in the first quarter of 2021, a 315.3% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Strong in First Quarter Amid Economic Recovery appeared first on ABA Banking Journal.

FDIC 40

FDIC Report Community Bank Community 40

CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78