News stories tagged FDIC

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...

Federal crypto-asset oversight on horizon?

(Oct. 29, 2021) A series of policy statements on crypto assets activities by banks is forthcoming from federal banking regulators, the chairman of the FDIC Board said this week, as...

Key investors named for ‘mission-driven bank fund’

(Sept. 17, 2021) A new fund designed to help banks serve low-income and minority communities will count Microsoft and Truist Financial Corp. – the sixth largest U.S. bank – as...

Bank agencies vow to work together on CRA rule

(July 23, 2021) New regulations on anti-redlining rules will be rescinded, and federal banking agencies vowed to work together to develop a new proposal, the agencies announced this week. On...

BRIEFLY: 2020 mortgage lending data available; FDIC’s DIF falls to 1.25% (no change in assessments)

(June 18, 2021) 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under HMDA are now available, the FFIEC said Thursday. Covered institutions include credit unions, banks, savings associations...

BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators

(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....