Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Aiding and abetting false statements on applications for some $690,000 in loans were the charges levied March 4 against a former chief lending officer of a Berwick, Pa.-based financial institution, the federal bank deposit insurer’s […]
Regulators’ efforts aimed at increasing banking access to low-income, less-educated, and minority households should include performance measures to determine their effectiveness, the congressional watchdog recommended Monday. In a report, the Government Accountability Office (GAO) said […]
Five banks earned “outstanding” Community Reinvestment Act (CRA) ratings – but one bank earned a “needs improvement” score – in evaluation ratings issued Friday by the federal insurer of bank deposits. The Federal Deposit Insurance Corp. […]
The federal bank deposit insurer will accept supervised banks’ voluntary self-assessments of their diversity policies and practices until June 30, the agency said in a letter this week. In its Financial Institution Letter (FIL-09-2022), the […]
Deficiencies in the supply chain risk management (SCRM) activity at the federal insurer of bank deposits – including that the agency failed to identify and list known risks to its chain – are outlined in […]
A total of 394 banking institutions are on the federal bank deposit insurer’s anti-redlining Community Reinvestment Act (CRA) evaluation schedule over the second and third quarters of this year, the agency said Monday. Of those, […]
Banks’ net operating income was up nearly 90% in 2021 from the previous year, the federal insurer of bank deposits said Tuesday, as the institutions reported $279.1 billion in the income category at year’s end. […]
Two orders of prohibition were among the enforcement actions taken by the federal insurer of bank deposits in January, the agency said Friday, against former bank employees, the first for unauthorized withdrawals from customers’ accounts […]
Special-purpose credit programs to meet the credit needs of specified classes of persons – particularly those of underserved communities – are available under federal law and regulations, the federal financial institution regulators, and federal housing […]
The chief innovation officer at the federal insurer of bank deposits – who was hired about a year ago after a search of more than two years by the agency – resigned Friday, citing hesitancy […]
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