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.
The FDIC should defer collection of the special assessment imposed on certain banks following the failures of Silicon Valley Bank and Signature Bank, which would give more time for litigation to play out regarding the recovery of losses...
President Trump signed an executive order directing federal agencies to cease activities that facilitate the sale of single-family homes to large institutional investors and to take possible legal action against those firms.
Bankers face challenges and opportunities in multiple key areas.
ABA offered several recommendations for how the IRS should implement a new tax benefit for lenders serving rural and agricultural communities, which was included in a tax package passed by Congress last year.
ABA said it supports a proposal by the OCC to revise licensing requirements for community banks as part of a broader effort to reduce the overall regulatory burden on the institutions.
ABA released its 2026 Blueprint for Growth, outlining its top policy priorities for the year ahead. Developed by ABA’s Government Relations Council, the Blueprint will shape the association’s ongoing engagement with Congress and the administration on the most...
