PYMNTS

MARCH 18, 2020

The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). The agency’s requirements also ask for particular record-keeping and mandate the reporting of information. .

FDIC 142

FDIC Fintech Industry Regulation 142

Perficient

SEPTEMBER 11, 2023

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations.

Compliance 221

Compliance FDIC Tools Leadership 221

Abrigo

MARCH 31, 2025

Lenders and credit analysts must organize into one cohesive credit memo the following: borrower information, financial ratios, any global cash flow analysis, the assigned risk rating, proposed loan pricing, and terms of the proposed loan. Focus on relevant repayment and credit risk information Whats relevant in a credit memo?

Analysis 195

Analysis Risk Management Management Data 195

CFPB Monitor

MAY 19, 2021

The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”.

FDIC 88

FDIC Regulation Fintech Examples 88

Gonzobanker

OCTOBER 31, 2024

Smart leaders use performance scorecards to keep the board informed. The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. But with so much information being gathered within an institution, what should CEOs share?

Risk Management 154

Risk Management Management FDIC Software 154

PYMNTS

NOVEMBER 14, 2018

The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8 million (or nearly 13 percent) of U.S.

FDIC 128

FDIC Lending Study Meeting 128

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

PYMNTS

APRIL 11, 2016

In an internal FDIC document obtained by The Washington Post , it was revealed that the data of 44,000 FDIC customers was breached by an employee who left the agency in February. The memo was distributed on March 18 by FDIC Chief Information Officer and Chief Privacy Officer Lawrence Gross Jr.

FDIC 100

FDIC Data Washington Security 100

PYMNTS

MAY 26, 2016

House lawmakers aren’t letting up on the Federal Deposit Insurance Corporation (FDIC) when it comes to how the banking regulator handled notifications following a slew of recent data breaches. In a joint letter to FDIC Chairman Martin Gruenberg, seen by WSJ , Rep. Lamar Smith (R-TX) and Rep. Earlier this month, a U.S.

FDIC 102

FDIC Data Policies Meeting 102

PYMNTS

MAY 13, 2016

congressional subcommittee spent time yesterday (May 12) during a hearing where the FDIC was questioned about a string of data breaches, including two recent incidents that involved 10,000 sensitive and private data records to be downloaded from workers onto storage devices before they left the agency.

FDIC 100

FDIC Data Maine Policies 100

PYMNTS

MAY 10, 2016

The Washington Post reported that the FDIC is disclosing to Congress the presence of at least five major data breaches that occurred sometime between now and Oct. Though details are still scarce, the FDIC noted that each case was not of the run-of-the-mill hacking variety.

FDIC 100

FDIC Washington Data Policies 100

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. This involves the use of AI to inform credit decisions to enhance or supplement existing techniques.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

OCTOBER 30, 2024

In addition, he noted, a recent consent order from the FDIC required an institution with assets below $1 billion to ‘establish satisfactory quality control procedures over the alert clearing and investigation process. Abrigo Advisors expect this emphasis on quality control will be a theme during exams —even at smaller institutions.

Compliance 221

Compliance Training System Management 221

Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

FDIC 195

FDIC Regulation Strategy Data 195

American Banker

JULY 20, 2020

The agency's request for information seeks comment on the idea of the FDIC partnering with a standards-setting organization to develop best practices for technology firms, among other things.

FDIC 90

FDIC Fintech Technology Community Bank 90

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Mr. Shan Hanes, who served as the bank’s President and CEO until its closure, joined the firm in 1993 as an agricultural loan officer and Informational Technology Officer.

United States 221

United States Kansas FDIC Risk Management 221

Abrigo

SEPTEMBER 15, 2022

Takeaway 3 Researchers studied the timing and frequency of on-site inspections by bank staff or third-party inspectors, the contents of the reports, and how the banks used the information in the reports. More construction loan monitoring ultimately decreases loan default, according to a new FDIC Center for Financial Research working paper.

Study 195

Study FDIC Lending Risk Management 195

CFPB Monitor

OCTOBER 9, 2018

The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” The RFI contains specific questions on which the FDIC seeks input that address three topics: efficiency, ease of access, and content.

FDIC 74

FDIC Community Bank Policies Community 74

CFPB Monitor

SEPTEMBER 7, 2023

The Federal Deposit Insurance Corporation has announced that it is launching a new Banker Engagement Site (BES) this month through FDIC connect to serve as the primary tool for exchanging examination planning and other information for consumer compliance and Community Reinvestment Act (CRA) activities. (The

FDIC 78

FDIC Tools Compliance Community 78

American Banker

JUNE 28, 2024

The company says the FDIC's "pause letters" to banks and denial of Freedom of Information Act requests are illegal.

FDIC 78

FDIC Company Bitcoin cryptocurrency 78

Perficient

NOVEMBER 17, 2023

Retail Deposits Defined The FDIC classifies retail deposits as demand or term deposits placed within an FDIC-supervised institution by a retail customer or counterparty, excluding brokered deposits. Make Perficient your go-to partner for informed decision-making in the face of changing interest rates.

Retail 221

Retail FDIC Risk Management Management 221

Abrigo

MARCH 31, 2017

FDIC officials in March outlined several types of weaknesses in loan underwriting, administration and oversight practices that are emerging at some banks with CRE portfolios. Eberley, director of the FDIC's Division of Risk Management Supervision wrote in the publication.

FDIC 186

FDIC Risk Management Analysis Lending 186

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

JUNE 12, 2019

Democratic Senators Elizabeth Warren and Doug Jones have sent a letter to the CFPB, Federal Reserve, OCC, and FDIC expressing concern that fintech and traditional lenders using algorithms in their underwriting processes are engaging in unlawful discrimination. Such algorithms are often referred to as “artificial intelligence.”).

FDIC 111

FDIC Fintech Lending Innovation 111

PYMNTS

FEBRUARY 1, 2021

Apple Bank for Savings was accused of failing to comply with the Bank Secrecy Act, according to the Federal Deposit Insurance Corporation (FDIC) per WSJ. The bank was recently fined in a separate charge that it failed to comply with a 2015 request by the FDIC to improve its AML compliance.

Apple 150

Apple FDIC New York Compliance 150

CFPB Monitor

FEBRUARY 14, 2024

The American Bankers Association (ABA) has issued a new white paper , “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal requirements while providing useful advice and information to regulated entities.

Regulation 158

Regulation FDIC 158

CFPB Monitor

DECEMBER 9, 2019

The Federal Deposit Insurance Corporation (the “FDIC”) has published a request for information in the Federal Register (the “RFI”) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions and rulemaking.

FDIC 78

FDIC Analysis Regulation Maine 78

CFPB Monitor

APRIL 8, 2021

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

PYMNTS

MAY 28, 2020

Hispanic immigrants have access to actual banking services, the release states, citing an FDIC survey. Hispanic immigrants access digital banking services, according to a press release. Less than half of U.S. Welcome Technologies is using Green Dot’s Banking-as-a-Service technology to create and optimize the features.

Mobile 248

Mobile US FDIC Survey 248

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. Disclosing information about the customers’ debts to third parties. ” For more information and to register, click here. . . million CMP.

FDIC 78

FDIC Lending Trends Regulation 78

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

Perficient

DECEMBER 21, 2023

Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions. Email: Send your comments to regulationshelpdesk@gsa.gov.

DC 221

DC FDIC Washington Compliance 221

Perficient

JUNE 7, 2023

On May 31, the Federal Deposit Insurance Corporation (FDIC) reported to the public what many banks already knew and had been experiencing for the past year – that deposits are declining in the American banking sector. There has almost been $1.2 Trillion removed from the banking system over the past year.

social media 221

social media FDIC Analysis System 221

CFPB Monitor

APRIL 4, 2019

On April 2, 2019, the FDIC issued Financial Institution Letter FIL-19-2019 (the “Letter”) to remind financial institutions about certain contractual provisions and other requirements pertaining to technology service provider contracts. Defining key terms in the contracts relevant to business continuity and/or incident response.As

FDIC 68

FDIC Technology Guidelines Security 68

CFPB Monitor

JANUARY 24, 2019

A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. They recommend that “the FDIC discourage banks from entering into these relationships in any guidance it issues on small-dollar lending.”.

FDIC 74

FDIC Lending District of Columbia Compliance 74

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

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