Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Credit unions are being warned to take action against a vulnerability in a popular file transfer application among financial institutions known as “MOVEit,” their federal regulator said Friday. According to the National Credit Union Administration […]
Federal banking agencies have adopted some of the revisions proposed in February to the call report filed by federally supervised banking organizations but will make those effective as of the Sept. 30, 2023, report date […]
Reconsiderations of value (ROVs) for residential real estate valuations that allow consumers to provide financial institutions with information that may not have been considered during an appraisal, or if deficiencies are identified in the original […]
Guidance for banks establishing principles to consider when developing and implementing risk management practices governing their third-party relationships was issued Tuesday by the three federal banking agencies. The guidance, however, is not without some controversy, […]
Obtaining or seeking almost $2 million by fraud, largely from churches and religious organizations, and then opening bank accounts for the ill-gotten gains has earned a Maryland man a three-year prison term, the federal bank […]
Updates made in May to the federal deposit insurance agency’s Consumer Compliance Examination Manual (CEM) were announced June 2 and are available on the agency’s website. The Federal Deposit Insurance Corp. (FDIC) CEM provides supervisory […]
The increasing frequency of use of automated valuation models (AVMs) by mortgage lenders in determining the value of property was a key factor for issuing a proposal late Thursday by federal financial institution regulators on […]
Banks in Guam are being encouraged to work with borrowers experiencing difficulties beyond their control because of damage caused by Typhoo Mawar, the federal bank deposit insurance agency said Friday. In a Financial Institution Letter […]
Six of the 65 banks that received their Community Reinvestment Act (CRA) evaluation ratings in March were rated “needs to improve,” while another were deemed to be “outstanding,” the Federal Deposit Insurance Corp. (FDIC) reported […]
The refocusing of a tech department at the federal bank deposit insurance agency from an external view to an internal one was bemoaned Thursday by the vice chairman of the agency’s board, who called the […]
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