The FDIC board today approved a $2.28 billion agency operating budget for 2021, a 12.9% increase from the 2020 budget. The board also authorized a 2021 staffing level of 5,793, a net increase of 65 positions from 2020.
“Recognizing that we are facing many uncertainties about the economic impact of the pandemic, this budget will provide requisite flexibility while allowing us to continue modernizing the FDIC’s operations and to promote innovation,” said FDIC Chairman Jelena McWilliams.
President Trump will host a swearing-in ceremony on Friday for incoming Federal Reserve Chairman Kevin Warsh, according to a news report. Jerome Powell is currently serving as chair pro tempore.
ABA and the Texas Bankers Association have released a new ad applauding Rep. Julie Johnson (D-Texas) for her work to lower the cost of credit for family farms and rural homeowners and urging her to continue those efforts.
The OCC finalized two rules to clarify that national banks are exempt from state laws regulating real estate escrow accounts. Both rules were first proposed late last year.
As part of a recent Trump administration push to expand access to mortgage credit, the Federal Housing Administration should modernize its collateral valuation process to align it with the collateral valuation standards established by Fannie Mae and Freddie...
House leadership has released the text of its amendment for a bipartisan housing bill ahead of a possible vote on the legislation next week.
The Senate Banking Committee voted 15-9 to advance a market structure bill for digital assets. ABA and other groups continued to urge for further tightening of the prohibition on interest-like rewards for holding stablecoin.
