The Fed – Regulatory Report

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[ July 16, 2019 ] Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds CFPB
[ July 16, 2019 ] In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules FDIC
[ July 16, 2019 ] UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor FDIC
[ July 15, 2019 ] Call reports due at end of month, but not yet for ‘streamlined’ reports for smaller banks (due after 3Q) FDIC
[ July 15, 2019 ] Week ahead: Deposit insurer, credit union regulator boards meet; Powell speaks in Paris NCUA

‘Statements of interest’ due Sept. 10 to be considered for Fed’s insurance advisory panel

July 12, 2019 0

Those who want to serve on the Federal Reserve Board’s new Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues (IPAC) have until Sept. 10 to submit statements of interest to the […]

Growing ‘financial imbalances’ call out for more rigorous use of stress tests, other efforts, Fed gov tells group

July 12, 2019 0

Low spreads on corporate credit and risky corporate debt “at historic highs” suggest growing financial imbalances that should be addressed by a variety of means – including more rigorous use of stress tests and active […]

New Volcker Rule proposals out this fall, Quarles says

July 11, 2019 0

The top supervisory official at the Federal Reserve Board Thursday said he expects the central bank will have new proposals out early this fall on changes in Volcker Rule limits on proprietary trading and covered […]

Before Senate committee, Powell earns support from Republicans for tenure, work he has done

July 11, 2019 0

Support for the chairman of the Federal Reserve Board – including for the job he is doing and for staying on the job – was offered by senators Thursday from the same party as the […]

UPDATED: Powell says if president calls, orders him to step down, ‘of course, I would not do that’

July 10, 2019 0

The chairman of the Federal Reserve Board said he would not step down if President Donald Trump ordered him to do so or declared he was fired from his position, the central bank leader told […]

Final rule excludes community banks from Volcker Rule, agencies announce

July 9, 2019 0

Federal banking regulators and others on Tuesday announced a final rule – unchanged from its proposed form – that excludes community banks from Volcker Rule prohibitions and restrictions on proprietary trading and certain relationships in […]

Banking agencies issue final reg capital rule changes, simplify compliance for community banks

July 9, 2019 0

A final rule that simplifies regulatory capital rules for banks, providing for eased compliance for community banks and others, was issued jointly Tuesday by the three federal banking regulatory agencies. The final rule, issued by […]

Quarles: Stress tests will continue, as will the qualitative assessment (in regular supervision)

July 9, 2019 0

Noting that banks have “significantly improved” their risk-management and capital planning processes since the advent of the Comprehensive Capital Analysis and Review (CCAR), the Federal Reserve Board’s top supervisory official on Tuesday said the “qualitative” […]

Paper warns of rising use of phony ‘synthetic identities,’ which hide fraudsters until they ‘bust out’

July 9, 2019 0

Fraudsters using phony identification – but which has elements of real information within it – to develop “synthetic identities” for payments is documented as an increasing problem for financial institutions, government agencies and individuals in […]

Stress tests need to ‘keep up’ as banking evolves – or risk compliance complacency, Fed leader says

July 9, 2019 0

Bank stress testing in the future will need to ensure that banks remain stable – which means the tests will need to “keep up” as the financial system evolves, the chairman of the Federal Reserve […]

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Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds

July 16, 2019 0

Expectations about reasonable procedures for assuring maximum possible accuracy, and reasonable investigations of consumer disputes, should be communicated to consumer reporting agencies (CRAs) by the federal consumer financial protection agency, the congressional watchdog said in a report issued Tuesday. The [...]
In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules

July 16, 2019 0

In Tuesday’s meeting of the Federal Deposit Insurance Corp. (FDIC) Board, Chairman Jelena McWilliams and Board Member Martin Gruenberg – the only two appointed members of the board – stood on opposite sides of two key issues before the board. [...]
UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor

July 16, 2019 0

The two appointed members of the federal bank deposit insurer board split on approval of final and proposed rules at their meeting Tuesday, with one citing an erosion of safeguards adopted in the wake of the financial crisis as his [...]