PYMNTS

JUNE 29, 2020

FDIC) is considering nixing its quarterly reports of banks in an attempt to modernize the way data is handled. To do so, the FDIC is going about a new competition among 20 data and technology firms to try and find the best way to move forward, WSJ reported. Recently, the FDIC also eased up the Volcker Rule.

FDIC 221

FDIC Report Regulation Data 221

Perficient

OCTOBER 27, 2022

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). Both the FRB and FDIC will accept comments and answers for 60 days after publication in the Federal Register.

Capital 275

Capital Regulation FDIC Regional 275

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). In 1987, parent banks were allowed to bypass FDIC oversight and regulations. .

FDIC 142

FDIC Fintech Industry Regulation 142

Abrigo

DECEMBER 13, 2019

The FDIC released a manual on Formal and Informal Enforcement Actions. The FDIC released its manual on Formal and Informal Enforcement Actions. For the first time, the FDIC released its manual on Formal and Informal Enforcement Actions to provide greater transparency to those processes. Key Takeaways.

FDIC 195

FDIC Capital Regulation Lending 195

Payments Dive

SEPTEMBER 6, 2023

The card issuer added a former FDIC regional director to its board as it grapples with regulatory scrutiny.

FDIC 221

FDIC Regulation Regional Cards 221

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

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

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

Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors.

Regulation 221

Regulation DC Capital Washington 221

CFPB Monitor

AUGUST 4, 2022

The FDIC has issued an “Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies ” to address the agency’s concerns regarding misrepresentations about FDIC deposit insurance by certain crypto companies. The FDIC identifies two issues that can create customer confusion.

FDIC 78

FDIC Risk Management Policies Regulation 78

PYMNTS

JUNE 17, 2020

According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51. billion, Reuters wrote. billion, Reuters wrote.

FDIC 203

FDIC US Lending Report 203

Perficient

SEPTEMBER 11, 2023

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Chronology of Compliance Engagement In the pre-personal computer age , FDIC examiners would simply show up at a bank, often by surprise, and start requesting documents from bank executives.

Compliance 221

Compliance FDIC Tools Leadership 221

Payments Dive

JANUARY 4, 2023

The regulators didn't go so far as to create new rules around bank-crypto partnerships, but said they're "continuing to assess" if — and how — such tie-ups can proceed safely.

FDIC 221

FDIC Regulation 221

American Banker

DECEMBER 21, 2023

finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products. The Federal Deposit Insurance Corp.

FDIC 85

FDIC Online Compliance Regulation 85

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

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

Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

PYMNTS

MARCH 15, 2020

Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through. Because of that, retail businesses can have them.

FDIC 140

FDIC Industry Company Meeting 140

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

Perficient

MARCH 10, 2021

.” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. Loan reviews are completed in the first and third calendar quarters each year.

National 309

National Regulation FDIC Retail 309

Abrigo

MAY 19, 2023

Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.” So, let’s get a sense of what regulators specifically expect loan review to do, and let’s start with loan review systems.

System 195

System Regulation How To Lending 195

Bank Innovation

JULY 25, 2017

Varo applied for a banking charter from the Federal Deposit Insurance Corporation (FDIC), as well as for a charter from the Office of the Comptroller of the Currenc, in the hopes of forming “Varo Bank,” the mobile banking startup announced today. Want a national bank that’s mobile-only? So does Varo Money.

FDIC 351

FDIC National Mobile Regulation 351

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

MARCH 27, 2019

The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. Leonard will also provide advice on the FDIC’s efforts to promote innovative financial services technologies. He is an excellent attorney and brings to the FDIC substantial familiarity with the consumer financial services industry.

FDIC 113

FDIC Community Regulation Groups 113

Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed.

FDIC 221

FDIC Risk Management Regulation Leadership 221

Realwired Appraisal Management Blog

MAY 31, 2024

Many Chief Appraisers are dealing with FDIC auditors camped out in their office. The regulators are digging deep, very deep. The demands for meticulous documentation, clear communication trails and absolute compliance with regulatory standards can be overwhelming.

Regulation 52

Regulation FDIC Compliance 52

CFPB Monitor

MARCH 28, 2023

In light of ongoing events concerning the recent bank failures and the response of regulators, we are releasing this week’s podcast episode earlier than our regular Thursday release date. Continue Reading

FDIC 78

FDIC Regulation Groups System 78

PYMNTS

MARCH 19, 2020

Banking regulators on Thursday (March 19) said they are going to give banks credit for letting lower-income Americans borrow money during the coronavirus pandemic, according to a report by Reuters. Regulators, for their part, said they want to encourage lending.

Regulation 140

Regulation Lending FDIC US 140

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

American Banker

JULY 7, 2023

The FDIC's New York regional office faced staffing shortages throughout its supervision of now-failed Signature Bank. Experts say more competitive wages, culture shifts and whistleblower protections could help regulators attract and retain talent and improve oversight.

FDIC 78

FDIC New York Regional Regulation 78

CFPB Monitor

DECEMBER 14, 2020

FDIC Chairman Jelena McWilliams recently stated that the FDIC is not contemplating a rulemaking “at this time” similar to the OCC’s proposed fair access rule issued last month. McWilliams was asked whether the FDIC supported the OCC’s proposal and was contemplating issuing a similar proposal.

FDIC 78

FDIC Training Regulation Operations 78

American Banker

JUNE 21, 2024

found shortcomings in the living wills of Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase, although the FDIC deemed Citi's resolution plan as "deficient." The Federal Reserve and the Federal Deposit Insurance Corp.

FDIC 78

FDIC America Policies Compliance 78

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

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

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

Banking Exchange

MAY 19, 2021

Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory.

Regulation 78

Regulation FDIC Compliance Bitcoin 78

American Banker

OCTOBER 8, 2024

21 to provide feedback on the FDIC's proposed rule on brokered deposits that could lead to higher costs for some insured depositories. Banks now have until Nov.

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FDIC Regulation Compliance 36