Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Of the 78 banks that received evaluation ratings in March under the anti-redlining Community Reinvestment Act (CRA), 10 of them – or 12.8% – earned the rating of “outstanding,” according to information released Thursday by […]
Summary of deposits survey responses – which gauge the level of branch office deposits as of mid-year for banks and savings associations – are due by July 31, the federal insurer of bank deposits said […]
State loan-to-deposit ratios for 2020 are now public, replacing last year’s ratios, to help to determine whether a bank may establish or buy a branch (or branches) without triggering prohibitions on doing so primarily for […]
Prime institution money market funds sponsored by bank holding companies (BHCs) are essentially different from similar funds not offered by banks because the banking firms can extend “shadow insurance” to their ailing funds, according to […]
A time-limited exception has been granted concerning information technology system and general recordkeeping requirements for certain accounts that require data cleanup, system updates, or customer outreach to make a deposit insurance determination under “timely deposit […]
Several sections of the federal bank deposit insurer’s Consumer Compliance Examination Manual (CEM) have been revised, with SOURCE violation code revisions and changes in Community Reinvestment Act (CRA) performance evaluation templates among the changes. The […]
The head of the Federal Deposit Insurance Corp. (FDIC) on Monday issued a statement welcoming the acting head of the Office of the Comptroller of the Currency (OCC) to the FDIC Board, noting she looked […]
Of the 55 investigations opened by the federal insurer of bank deposits’ watchdog, 27 resulted in convictions – and others resulted in fines and restitution of more than $3 billion, the agency said in its […]
The first credit union failure in 2020 was announced Friday by the federal credit union regulator – and the third federally insured financial institution to fail this year so far – as the agency took […]
Nearly a month after they were finalized, a policy statement on credit losses accounting (under the current expected credit losses, or CECL, accounting standard) and guidance on credit risk review systems are both scheduled to […]
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