Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
A $2.4 billion 2023 operating budget that will be 6.5% higher than the previous year’s spending plan was approved Tuesday by the board of the federal bank deposit insurance agency. Also at its meeting Tuesday, […]
Differentiating federally insured bank deposits from non-insured savings – for example, from financial products offered by non-federally insured financial firms, such as fintechs – is the aim a rule proposed Tuesday by the federal bank […]
Final action on the federal bank deposit insurer’s 2023 operating budget and, among other things, changes in the agency’s guidelines for appeals of material supervisory determinations are slated for Tuesday’s open board meeting. The Federal […]
Banks in areas of South Carolina affected by Hurricane Ian in late September to early October are being offered some regulatory relief to help their communities recover from the storm, the federal insurer of bank […]
Five of the 52 banks receiving their Community Reinvestment Act (CRA) ratings this September were found to be “outstanding” for their compliance with the anti-redlining statute, according to results released Friday by the Federal Deposit […]
The November updates to portions of its Consumer Compliance Examination Manual (CEM) were announced Thursday by the federal bank deposit insurer. The Federal Deposit Insurance Corp. (FDIC) said the CEM provides supervisory information regarding consumer […]
Net income of $71.7 billion was reported by banks in the third quarter, an increase of 11.3% from the previous quarter, or $7.3 billion, the federal insurer of bank deposits reported Thursday. The spike in […]
A Tupelo, Miss., bank has agreed to pay a $325,000 civil money penalty (CMP) after a finding that the bank failed to obtain required flood insurance coverage for loans made for structures in a flood […]
Two regulators gave clues of how they will consider future resolution plans (or “living wills”) submitted for review by large, complex banking organizations – including taking a more “granular” view and focusing on “resolvability” — […]
A “shortcoming” was identified in the resolution plan (or “living will”) for Citigroup, Inc. – related to data the firm manages — based on results of a review of the 2021 wills, according to statements […]
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