Regulator terms

What's up

[ January 15, 2021 ] 2021 NCUA supervisory priorities focus on COVID-19, BSA/AML, consumer protection; no CECL reviews for now NCUA
[ January 15, 2021 ] Former top lawyer for Wells Fargo agrees to $3.5 million fine, cooperation OCC
[ January 15, 2021 ] Supervisory appeals guidelines slated for FDIC Board action Tuesday FDIC
[ January 15, 2021 ] FDIC: Bank call reports due Jan. 30; letter highlights provisions issued amid COVID-19 pandemic FDIC
[ January 15, 2021 ] Compliance guide for debt collection communications rule offered to small entities CFPB

Regulators/positions, term ending dates (nominations)

Names, positions and term-ending dates for federal financial institution regulators

AGENCY	POSITION	REGULATOR NAME	TERM ENDS
CFPB	Director	Kraninger, Kathleen ("Kathy")	2023, Dec.
FDIC	Chairman	McWilliams, Jelena	2023, May
FDIC	Vice Chairman	(Vacant)	(Vacant)
FDIC	Director (Appointive)	Gruenberg, Martin	2018, Dec.
FDIC	Director (Acting Comptroller of the Currency)	Paulson, Blake	Undetermined (Paulson succeeded Acting Comptroller Brian P. Brooks, who resigned Jan. 14)
FDIC	Director (CFPB Director)	Kraninger, Kathleen	2023, December
Federal Reserve	Vice Chairman	Clarida, Richard	2022, Jan.
Federal Reserve	Member	Brainard, Lael	2026, Jan.
Federal Reserve	Chairman	Powell, Jerome	2022, Feb. (as board member: 2028, Jan.)
Federal Reserve	Vice Chairman for supervision	Quarles, Randal	2032, Feb.
Federal Reserve	Member	Bowman, Michelle "Miki"	2034, Jan. (confirmed by Senate to full 14-year term as governor; previous, one-year term ends 2020, Jan.)
Federal Reserve	Member (nominee)	Shelton, Judy	President Donald Trump tweeted intention July 2, 2019; Trump notifies Senate of intention, Jan. 16, 2020; Senate fails to cut off debate on nomination, Nov. 17, 2020. Shelton renominated by Trump Jan. 3; no action taken by Senate
Federal Reserve	Member	Waller, Christopher	2030, Jan. (President Donald Trump tweeted intention July 2, 2019; Trump notifies Senate of intention, Jan. 16, 2020; Senate confirmed Dec. 3, 2020)
NCUA	Vice Chairman	Hauptman, Kyle S.	2025, Aug. (White House announced intention to nominate June 15 (to replace J. Mark McWatters, term experied (resigned, Nov. 20, 2020)). Senate confirmed Dec. 2, 2020; sworn in Dec. 3 -- designated vice chairman Jan. 5, 2021)
NCUA	Chairman	Hood, Rodney E.	2023, Aug. (Jan. 2019: re-nominated to NCUA Board, succeeding Rick Metsger (term expired), Senate confirms by unanimous consent March 14; designated chairman by President Trump April 8, 2019))
NCUA	Member	Harper, Todd M.	2021, April (Feb. 2019: nominated to fill remainder of six-year term; Senate confirms, by unanimous consent, March 14)
OCC	Acting Comptroller of the Currency	Paulson, Blake	Undetermined (Succeeded Acting Comptroller Brian P. Brooks, who resigned Jan. 14, 2021. The five-year term of Brooks' predecessor, Joseph Otting, expires in November, 2022; Otting resigned in May 2020.)

2021 NCUA supervisory priorities focus on COVID-19, BSA/AML, consumer protection; no CECL reviews for now

January 15, 2021 0

A continued focus on the challenges posed by the ongoing coronavirus (COVID-19) pandemic and steps to enhance the agency’s offsite monitoring of credit unions’ condition are among the highlights in a letter Friday on 2021 supervisory priorities announced by the [...]
Former top lawyer for Wells Fargo agrees to $3.5 million fine, cooperation

January 15, 2021 0

A $3.5 million fine has been assessed against the former Wells Fargo Bank general counsel in a settlement following charges that he and other executives helped to maintain a business model that urge workers at the bank to engage in [...]
Supervisory appeals guidelines slated for FDIC Board action Tuesday

January 15, 2021 0

A set of revisions to the agency’s guidelines for appeals of material supervisory determinations is the sole discussion item slated for action during next week’s open meeting of the Federal Deposit Insurance Corp. (FDIC), according to the agenda released Friday. [...]
FDIC: Bank call reports due Jan. 30; letter highlights provisions issued amid COVID-19 pandemic

January 15, 2021 0

Banks working on their fourth-quarter 2020 call reports, due generally by Jan. 30, are reminded of revisions made to the reports beginning last March in a Financial Institution Letter (FIL) issued Friday by the Federal Deposit Insurance Corp. (FDIC). While [...]
Compliance guide for debt collection communications rule offered to small entities

January 15, 2021 0

A summary of the October 2020 debt collection rule regarding communications between collectors and debtors is provided in a small-entity compliance guide released by the federal consumer financial protection agency Friday. The Consumer Financial Protection Bureau (CFPB) said the guide [...]
Kressman is named NCUA general counsel; Conyers-Ausbrooks is board secretary

January 15, 2021 0

Frank Kressman has been selected as the agency’s general counsel, a move that elevates him from his “acting” role in that post assigned 13 months ago. The National Credit Union Administration (NCUA), in a release Friday, also said that Melane [...]
NCUA places small IN credit union into conservatorship

January 15, 2021 0

The federal credit union regulator on Thursday said it placed the $6.6 million-in-assets, 1,155-member Indianapolis’ Newspaper Federal Credit Union into conservatorship. “The NCUA placed Indianapolis’ Newspaper Federal Credit Union into conservatorship because of unsafe and unsound practices at the credit [...]
Agencies sign ‘memo of understanding’ to improve consumer protection coordination supervision for larger credit unions

January 15, 2021 0

Improving coordination between the federal credit union regulator and federal consumer financial protection agency over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a “memorandum of understanding” announced by [...]