21aug20 – Regulatory Report

What's up

[ October 30, 2026 ] Kansas bank ordered to pay $2.5 million penalty for not maintaining anti-money laundering program FDIC
[ October 30, 2026 ] Deposit insurer wants to rescind rule calling for detailed records, coverage calculations within 24 hours of failure FDIC
[ October 30, 2026 ] Two credit unions chartered by federal agency – first pair in 2026—to provide business loans, consumer services NCUA
[ October 30, 2026 ] 2 former TX, IL credit union employees barred by NCUA NCUA
[ October 28, 2026 ] NCUA proposed budget shows hike of 2.9% for 2027, op fee rate to drop NCUA

FDIC addressing concerns raised by OIG over wireless network cloud service approved prior to NIST framework change

August 20, 2021 0

The Federal Deposit Insurance Corp. (FDIC) reportedly is addressing concerns raised by its Office of Inspector General (OIG) over an external wireless network solution cloud service that was deployed prior to a 2018 risk management […]

CFPB pushing all CARD Act submissions to ‘Collect’ website beginning with data due Jan. 31

August 20, 2021 0

Card issuers required to supply credit card agreement terms and other data to the Consumer Financial Protection Bureau (CFPB) must make all submissions via the agency’s Collect website beginning in January, according to a notice […]

Kansas bank ordered to pay $2.5 million penalty for not maintaining anti-money laundering program

October 30, 2026 0

A Kansas bank must pay a $2.5 million civil money penalty (CMP) for its failure to maintain an effective anti-money laundering (AML) program, the federal bank deposit insurer said Friday. According to the Federal Deposit Insurance Corp. (FDIC), CBW Bank [...]
Deposit insurer wants to rescind rule calling for detailed records, coverage calculations within 24 hours of failure

October 30, 2026 0

A rule would be rescinded that requires banks with $2 million or more in deposits maintain detailed records and calculate deposit insurance coverage within 24 hours of a bank’s failure, under a proposal the federal bank deposit insurance agency issued [...]
Two credit unions chartered by federal agency – first pair in 2026—to provide business loans, consumer services

October 30, 2026 0

Two new credit union charters – the first such so far in 2026 – were announced Friday by the federal regulator, with the new cooperatives serving memberships on different sides of the country. The National Credit Union Administration (NCUA) said [...]
2 former TX, IL credit union employees barred by NCUA

October 30, 2026 0

Two former employees of credit unions — one in Texas, the other in Illinois — are barred from any future service in federally insured depository institutions under prohibition orders announced Friday by the National Credit Union Administration (NCUA). The two [...]
NCUA proposed budget shows hike of 2.9% for 2027, op fee rate to drop

October 28, 2026 0

Growth in employee compensation, contracted services and administrative expenses for the National Credit Union Share Insurance Fund (NCUSIF) are the key factors behind the federal credit union regulator’s proposed 2027 budget of $325.4 million, the agency said. In its proposal [...]
FDIC names new COO with experience mostly from law enforcement agencies

October 26, 2026 0

A new chief operating officer (COO) for the federal bank deposit insurance agency has been named, who brings experience largely from law enforcement, the regulator said Monday. Five others were also named to senior positions, the Federal Deposit Insurance Corp. [...]
Interest rate risk report exposes some vulnerability for banks over longer term

October 23, 2026 0

Economic value of equity (EVE) is more vulnerable to interest rate increases than are other financial indicators, according to the latest interest rate risk statistics report issued Friday by the national bank regulator. According to the quarterly report (for fall [...]