Regulator terms

What's up

[ May 24, 2019 ] FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts Other
[ May 24, 2019 ] Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds The Fed
[ May 23, 2019 ] Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists The Fed
[ May 23, 2019 ] Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule OCC
[ May 23, 2019 ] OCC advisory panel on minority institutions meets June 12 in Dallas OCC

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, December
FDIC	Chairman	McWilliams, Jelena	2023, May
FDIC	Vice Chairman	(Vacant)	(Vacant)
FDIC	Director (Appointive)	Gruenberg, Martin	2018, December
FDIC	Director (Comptroller of the Currency)	Otting, Joseph	2022, Nov.
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	2028, Jan.
Federal Reserve	Vice Chairman for supervision	Quarles, Randal	2032, Feb.
Federal Reserve	Member	Bowman, Michelle "Miki"	2020, Jan.
Federal Reserve	Member	(Vacant)	(Vacant)
Federal Reserve	Member	(Vacant)	(Vacant)
NCUA	Member	McWatters, J. Mark	2019, Aug.
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	Comptroller of the Currency	Otting, Joseph	2022, Nov.

FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts

May 24, 2019 0

Treasury’s financial crimes unit on Friday announced a new program that will allow financial institutions, technology providers, and other firms involved in financial services the chance to present new, emerging innovative products and services and approaches designed to enhance anti-money [...]
Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds

May 24, 2019 0

Large banks believe they could be holding much lower reserve balances – about 40% less – than they are holding now, largely because of the continued low-interest-rate environment, according to the results of a survey of senior financial officers released [...]
Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists

May 23, 2019 0

Three in four U.S. adults said in 2018 that, financially at least, they were “doing OK” or “living comfortably” – up 12 percentage points from 2013 – according to the results of a survey released Thursday by the Federal Reserve. [...]
Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule

May 23, 2019 0

Federal savings associations (FSAs) that had total consolidated assets of $20 billion or less as of Dec. 31, 2017, can elect to operate as “covered” savings associations and enjoy the same rights and privileges as a national bank under a [...]
OCC advisory panel on minority institutions meets June 12 in Dallas

May 23, 2019 0

A public meeting of the panel that advises the Office of the Comptroller of the Currency (OCC) on issues affecting minority depository institutions is set for 1 p.m. Central time in Dallas, the OCC announced Thursday. The Minority Depository Institutions [...]
Fed plans test operation of term deposit facility next week; ‘no implications for monetary policy’

May 23, 2019 0

One operation this month of the Term Deposit Facility (TDF) will be tested by the Federal Reserve, with the aim of ensuring its operational readiness and providing the institutions that may use it some degree of familiarity, the agency said [...]
More public unit and nonmember shares would be OK for credit unions under NCUA proposed rule

May 23, 2019 0

The basis for measuring the regulatory limit on nonmember and public unit shares that federally insured credit unions (FICUs) may hold would change – in many cases increasing the dollar amount that could be held – under a proposed rule [...]
Aids for credit union chartering, identifying low-income areas for service focus of CURE office at NCUA

May 23, 2019 0

The federal agency that charters and regulates federal credit unions says it’s planning to offer more resources for credit unions to identify low-income areas they might serve, and information for those seeking to charter a new credit union, through its [...]