Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Commencing with the first quarterly assessment period of 2024 (i.e.,

FDIC 221

FDIC Risk Management Regulation Leadership 221

CFPB Monitor

DECEMBER 29, 2022

On December 13, 2022, the FDIC issued a request for comment on a proposal to modernize the regulations governing use of the FDIC’s official signage and advertising of FDIC-insured status by insured depository institutions (IDIs), and to clarify regulations issued.

FDIC 78

FDIC Regulation 78

CFPB Monitor

SEPTEMBER 25, 2023

The FDIC has filed motion to dismiss the lawsuit filed in July 2023 in a Minnesota federal district against the FDIC and its Chairman seeking to invalidate the FDIC’s supervisory guidance on charging multiple non-sufficient funds (NSF) fees for the same unpaid item. See out prior blog here. Continue Reading

FDIC 78

FDIC Minnesota 78

CFPB Monitor

AUGUST 23, 2022

On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action. According to the FDIC’s press release , “[b]ased upon evidence collected., Part 328, Subpart B.

FDIC 78

FDIC social media cryptocurrency US 78

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.

Risk Management 195

Risk Management Management FDIC Meeting 195

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. By Ed Avis. Methodology.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

AUGUST 3, 2022

On July 25, 2022, the FDIC issued Financial Institution Letter (FIL)-34-2022 announcing updates to Chapters 1 and 4 of its Formal and Informal Enforcement Actions Manual (Manual). The Manual includes updates to the minimum standards for the FDIC’s termination of cease-and-desist and consent orders.

FDIC 78

FDIC Compliance Regulation Regional 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

CFPB Monitor

APRIL 8, 2021

The full compliance date for the final rule is January 1, 2022. The FDIC issued a new Financial Institution Letter ( FIL-23-2021 ) last week in which it announced that, to facilitate implementation of the final rule, it has added a Brokered Deposits webpage to the Banker Resource Center on its website.

FDIC 78

FDIC Resources Regulation Compliance 78

Perficient

NOVEMBER 10, 2023

However, in the current rising interest rate environment in the United States since 2022, loan rates have adapted more rapidly than deposit rates. In table form, transaction account balances declined by almost 30% in the second quarter of 2022 as interest rates began to rise, later moderating in the latter half of the year.

Risk Management 221

Risk Management United States FDIC Compliance 221

CFPB Monitor

JANUARY 24, 2023

In a letter sent earlier this month, the Bank Policy Institute, the American Bankers Association and the Independent Community Bankers of America (the “trade groups”) have asked the FDIC for more time to comment on the agency’s proposal , published in the Federal Register on December 21, 2022, to update its existing regulations governing use and misuse (..)

FDIC 78

FDIC Groups America Policies 78

CFPB Monitor

APRIL 12, 2023

In the March 2023 issue of Consumer Compliance Supervisory Highlights , the FDIC discusses consumer compliance issues identified by its examiners during supervisory activities conducted in 2022 involving referral arrangements, trigger leads, servicemember protections, and fair lending compliance. Compliance Issues.

Compliance 78

Compliance FDIC Lending Trends 78

CFPB Monitor

JULY 6, 2022

The CFPB has published its Spring 2022 rulemaking agenda as part of the Spring 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. Even the two items that appeared as long-term actions in the Fall 2021 agenda, artificial intelligence and mortgage servicing, no longer appear in the Spring 2022 agenda.

Lending 78

Lending Regulation FDIC Data 78

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 Capital Report FDIC 186

CFPB Monitor

MAY 19, 2022

As indicated by the CFPB, the Circular was issued in connection with the FDIC’s issuance of a final rule implementing the Federal Deposit Insurance Act’s (FDIA) prohibition on false advertising through the misuse of the FDIC’s name or logo or making knowing misrepresentations about deposit insurance coverage. . FDIC Final Rule.

FDIC 78

FDIC Exercises System Regulation 78

South State Correspondent

MARCH 13, 2023

On the liability side of SVB’s $173B in deposits at the end of 2022, approximately 97% were uninsured and above the $250k in FDIC protection threshold. at the end of 2022, with $2.4B That fact makes the bank’s deposits less sticky and subject to outflow at any sign of insolvency.

Risk Management 221

Risk Management Management Community Bank Community 221

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

South State Correspondent

JUNE 11, 2024

FDIC-insured “Problem Banks” list has been increasing over the past two years. The Data on Bank ROE As shown in the graph below, community bank industry average ROE declined to 10.38% in Q1/24 from 12.63% in the prior quarter, and the number of banks reporting negative ROE in Q1/24 increased to 237 from 91 in 2022.

Community Bank 221

Community Bank Community Analysis Capital 221

ABA Community Banking

MAY 24, 2022

FDIC-insured banks and savings associations earned $59.7 billion in the first quarter of 2022, a 22.2% The post FDIC: Increase in provision expense drives bank net income down appeared first on ABA Banking Journal. decrease from the year prior, the agency reported yesterday in its Quarterly Banking Profile.

FDIC 52

FDIC Report Community Bank Community 52

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

Compliance 100

Compliance FDIC Community Bank Community 100

Perficient

NOVEMBER 30, 2021

2022 Planned Roadmap. Imagine the complexities that will abound when structured notes, which are notes that have a built-in derivative, begin to peg their principal and interest payments to the value of a stablecoin.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. Most bankers (86%) indicated they’ve moved beyond data collection in 2022, even if they haven’t yet adopted the standard (i.e.,

Survey 195

Survey Software Resources Meeting 195

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. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Jeff For Banks

DECEMBER 16, 2022

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. As of or for the year-to-date September 30, 2022, the Company had $3.1 billion in total assets at September 30, 2022, fueled by organic growth and acquisitions. Silvergate Capital Corporation (NYSE: SI) #2.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

South State Correspondent

JANUARY 10, 2024

We estimate that approximately another 500 use hedging programs that keep the derivative off balance sheet (thus not reportable by FDIC). Notably, the two banks with zero or near zero swap notional at the end of 2022 are now defunct institutions (First Republic Bank and Silicon Valley Bank). Only 304 banks (or 6.7%

Community Bank 195

Community Bank Community National Regional 195

CFPB Monitor

JUNE 22, 2022

banking regulators (the “2022 Joint Notice” or the “Proposal”). 2022 Joint Notice: Under the Proposal, banks would continue to utilize a facility-based delineation for assessment areas, but the geographic requirements for delineating these areas would be based on bank size. 2022 Joint Notice.

Regulation 78

Regulation Community Lending Retail 78

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

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. In effect, Cross River is in time out.

Compliance 109

Compliance FDIC Strategy Fintech 109

Perficient

AUGUST 15, 2024

A major step in this direction is the European Union Markets in Financial Instruments Directive II (EU MiFID II) Regulation requiring financial firms to incorporate sustainability preferences into their advisory and portfolio management processes since 2022.

Risk Management 221

Risk Management Resources Regulation Community 221

Abrigo

MAY 19, 2023

When it comes to comprehensive loan review, loan officers should get familiar with FDIC regulatory expectations, examine their processes, and consider what tools and resources can support their review process while meeting regulatory expectations.

System 195

System Regulation How To Lending 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

Abrigo

NOVEMBER 29, 2021

You might also like this webinar: "Is inflation the big gift to your 2022 earnings?". Noninterest income drove 20% of community banks' net operating revenue in 2019, down from 22% in 2012, according to a recent FDIC study. Community banks have seen less volatility in noninterest income over time.

Community Bank 195

Community Bank Community FDIC Trends 195

BankInovation

JANUARY 5, 2022

regulatory authorities may be less lenient about bank accounting and reporting errors stemming from old technologies — like spreadsheets — particularly for repeat offenses. Banks could see 500% higher fines for errors stemming from outdated, problematic methods. So predicts Bikram Singh, chief executive officer of Brunswick, N.J.-based

Technology 98

Technology Report FDIC Security 98

South State Correspondent

SEPTEMBER 12, 2022

We examine all FDIC-insured commercial banks and S&L associations over the last three decades and plot COF versus short-term rates. The OCC published in January 2022 that the banking system currently holds $3T in “excess” deposits (about 17% of total deposits).

Community Bank 195

Community Bank Community Industry Online 195

South State Correspondent

APRIL 30, 2022

Based on the futures market, the Federal Reserve is expected to raise the Fed Funds rate to 3.00% at its December 2022 meeting. We examine the roughly four thousand FDIC-insured commercial banks and S&L associations over the last four decades. The Fed will also aggressively shrink its balance sheet to tame unwanted inflation.

Community Bank 195

Community Bank Strategy Community FDIC 195

American Banker

SEPTEMBER 20, 2023

The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry. The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue.

FDIC 36

FDIC Minnesota Industry Compliance 36