CFPB Monitor
AUGUST 25, 2020
The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.
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. .
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Perficient
MARCH 22, 2023
Overpaid Executives We’re not going to name names, but certain Senators from the great state of Massachusetts came out and declared that the failure was from “weaker regulation,” “lax regulatory supervision,” and “lower capital requirements,” as well as “millions in bonuses” paid by the bank. Total risk-based capital 16.18 Tier 1 leverage 8.11
South State Correspondent
MARCH 15, 2023
Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. Look for more formal education teaching bankers how to talk to customers about FDIC insurance, bank safety, and liquidity concerns.
Abrigo
FEBRUARY 16, 2015
Last week Democratic Senator from Massachusetts, Elizabeth Warren, took the opposite stance on the regulation issue , citing that community banks are making more money since the regulations were imposed. She noted that bank earnings were up more than 7 percent in the third quarter of 2014, compared with the same period the previous year.
Jeff For Banks
DECEMBER 10, 2024
The FDIC designated SVB as systemically important. They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system. It has not been all sunshine and rainbows for TBBK. But not that much higher.
CFPB Monitor
OCTOBER 10, 2019
Celtic could not make and keep the loans on its balance sheet because they would create an unacceptable risk under FDIC regulations. The complaint includes claims for violations of state usury laws (California, Massachusetts, Colorado, New York) and racketeering and conspiracy under federal RICO statutes.
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