FDIC
5 bank receiverships terminated by FDIC
The federal bank deposit insurer terminated its receiverships of five banks April 1, all of them several months – in one case, more than a year – after its initial notices that it planned to […]
Month: April 2019
The Fed
Fed invites Consumer Advisory Council applications from April 8 to May 31
The Federal Reserve Board will accept applications for membership on its Consumer Advisory Council (CAC) from April 8 to May 31 to fill seats due to be vacated at year-end, according to a notice for […]
NCUA
OIG cites weaknesses in NCUA monitoring, accounting of IT equipment
An audit of information technology equipment inventory by the National Credit Union Administration (NCUA) found that the agency did not adequately monitor, account, and dispose of all its information technology (IT) equipment and that improvements […]
FDIC
Agencies issue updated FAQs on CECL to combine, replace earlier versions issued two, three years ago
Updated “frequently asked questions” (FAQs) about the new accounting standard on credit losses hit the street Wednesday, combining new questions and answers with those issued two and three years ago and replacing others. The Federal […]
OCC
7 banks rated ‘outstanding’ for CRA, 18 rated ‘satisfactory,’ OCC reports
The list of 25 Community Reinvestment Act (CRA) ratings of banking institutions that became public during the month of March includes 18 ratings of “satisfactory” and seven ratings of “outstanding,” the Office of the Comptroller […]
The Fed
Rule changes methods for determining level of intraday credit branches, agencies of FBOs can receive from Federal Reserve banks
Changes to refine the methods for determining the level of intraday credit that U.S. branches and agencies of foreign banking organizations (FBOs) and agencies can receive from the Federal Reserve Banks were announced Wednesday by […]
CFPB
Credit, consumer reporting leads complaints to CFPB for second straight year in 2018, up 27% from 2017
Complaints about credit or consumer reporting, for the second straight year, was the leader in 2018 as the “most-complained about” consumer financial product or service, according to the federal consumer financial protection agency’s Consumer Response […]
FDIC
Joint Ownership Deposit Accounts
Title: Joint Ownership Deposit Accounts Subject: Deposit insurance Agency: FDIC Status: Final rule Summary: The FDIC is amending its deposit insurance regulations to update one of the requirements that must be satisfied for an account […]
The Fed
Fed’s community banking rep argues for better communication, coordination among regulators – federal and state
The nature of financial regulation and supervision in the country “argues strongly” for better coordination between state and federal financial regulators – as well as between the federal regulators themselves, a member of the Federal […]
FDIC
Contracts with tech service providers often lack ‘sufficient detail,’ agency warns
Some financial institution contracts with technology service providers lack sufficient detail regarding the contract parties’ respective rights and responsibilities for business continuity and incident response, the federal insurer of bank deposits said Tuesday in a […]