DAP – Regulatory Report

What's up

[ January 27, 2023 ] FDIC: Kansas banker assessed $35k penalty, ordered to undergo training after 100+ violations of federal insider lending rules FDIC
[ January 27, 2023 ] Statement aims to ‘level playing field’ among all banks with federal supervisor, emphasizing crypto-related actions The Fed
[ January 27, 2023 ] Texas credit union released from conservatorship that began in March 2021 NCUA
[ January 27, 2023 ] Fed gives cold shoulder to firm engaging in ‘novel crypto activities’ for membership in system, citing safety, soundness risks The Fed
[ January 26, 2023 ] FDIC names next deputy directors for capital markets and accounting policy, operational risk FDIC

Publication of withdrawal of guidance for ‘DAPs’ set

October 11, 2017 0

The withdrawal of guidance about “deposit advance products” (DAP) to national banks – possibly opening options for banks to offer payday and other short-term loans — is set to be published in the Federal Register […]

Acting Comptroller rescinds guidance in wake of final payday loan rule by CFPB

October 5, 2017 0

Guidance to national banks issued four years ago about “Deposit Advance Products” – including payday and other small-dollar, short-term loans – was rescinded Thursday by the Office of the Comptroller of the Currency (OCC), in […]

FDIC: Kansas banker assessed $35k penalty, ordered to undergo training after 100+ violations of federal insider lending rules

January 27, 2023 0

A Kansas banker who reportedly committed a combined 107 violations of federal insider lending rules was required to pay a $35,000 civil money penalty and undergo training under a December, combined consent order released Friday by the Federal Deposit Insurance [...]
Statement aims to ‘level playing field’ among all banks with federal supervisor, emphasizing crypto-related actions

January 27, 2023 0

All banks supervised by the Federal Reserve will be subject to the same limitations on activities, including novel banking activities like crypto-asset-related activities – regardless of their deposit insurance status, the agency said in a policy statement released Friday. The [...]
Texas credit union released from conservatorship that began in March 2021

January 27, 2023 0

A credit union in Texas that spent nearly two years in conservatorship has been returned to the control of its members, the federal credit union regulator said Friday. The National Credit Union Administration (NCUA) on March 26, 2021, announced that [...]
Fed gives cold shoulder to firm engaging in ‘novel crypto activities’ for membership in system, citing safety, soundness risks

January 27, 2023 0

An application was denied from a Wyoming crypto-centered depository institution to become a member of the Federal Reserve System after the Federal Reserve Board determined the firm’s business model and focus “presented significant safety and soundness risks,” the agency said [...]