News stories tagged FDIC

Notice and Summary: FDIC’s Releases a Comprehensive Overview of the Deposit Insurance System

On May 1st, the FDIC released a report titled “Comprehensive Overview of Deposit Insurance System, Including Options for Deposit Insurance Reform” along with a statement from FDIC Chairman Martin J....

FDIC Issues Supervisory Guidance on Charging Overdraft Fees for Authorize Positive, Settle Negative Transactions

The FDIC is issuing supervisory guidance to its supervised institutions to ensure that supervised institutions are aware of the consumer compliance risks associated with assessing overdraft fees on a transaction...

Veteran of FDIC Takeover Tells What It’s Like to Run a Failed Bank

John Bovenzi is part of the small club of people who have run a failed U.S. bank, a group whose membership expanded by two this month when regulators swooped in to take over Silicon Valley Bank and Signature Bank...

State Regulator Group Raises Concerns About FDIC Nominees

November 29, 2022 — The Conference of State Bank Supervisors is complaining that none of the nominees for the Federal Deposit Insurance Corp. board has state regulatory experience on the...

CFPB & FDIC BoD on the Amended Deposit Insurance Fund Restoration Plan and Revised Deposit Insurance Assessment Rates

One of the FDIC’s most important responsibilities is to prudently manage the Deposit Insurance Fund. The FDIC’s ability to credibly guarantee our nation’s insured deposits is vital for the stability...

FDIC chairman steps down; NCUA leaders offer praise

(Feb. 4, 2022) FDIC Board Chairman Jelena McWilliams is scheduled to step down today (Friday, Feb. 4), following through on the announcement she made late last month. In her resignation...

Agencies seek solutions for ‘digital identity proofing’

(Jan. 14, 2022) Measuring the effectiveness of digital identity proofing – the process used to collect, validate and verify information about a person – is the aim of a “tech...

New leadership ahead for FDIC

(Jan. 7, 2022) The leadership of the FDIC will be changing next month following the surprise resignation New Year’s Eve by board Chairman Jelena McWilliams. In a letter to President...

Rule finalized requiring notification of cyber incidents

(Nov. 24, 2021) A final rule requiring banks to notify their federal regulators of certain cyber incidents with potentially systemic effects was approved jointly late last week; it takes effect...

Report calls for only federally insured CUs, banks to be stablecoin issuers

(Nov. 5, 2021) Payment stablecoins and their arrangements should be subject to a federal regulatory framework on a consistent and comprehensive basis through an act of Congress – including by...

BRIEFLY: Fed statement: climate change poses ‘significant challenges’ to financial stability, safety and soundness; FDIC creates office to support ‘mission-driven banks’

(Nov. 5, 2021) Climate change poses “significant challenges” to the safety and soundness of financial institutions and the stability of the financial sector more broadly, the Federal Reserve said in...