FDIC Finalizes Changes to Brokered Deposit Rules
The FDIC today finalized long-awaited changes to modernize its existing brokered deposit rules and foster greater innovation by financial institutions.
The FDIC today finalized long-awaited changes to modernize its existing brokered deposit rules and foster greater innovation by financial institutions.
The FDIC today finalized a rule requiring certain conditions and commitments for deposit insurance applications from an industrial loan company whose parent company is not subject to Federal Reserve supervision.
The FDIC board today approved a $2.28 billion agency operating budget for 2021, a 12.9% increase from the 2020 budget.
As community banks continue to innovate—a task that has only become more important since the COVID-19 pandemic began—regulators play two key roles in that process, ABA President and CEO Rob Nichols said during a virtual industry event today.
With the first coronavirus vaccines being rolled out this week, the American Bankers Association wrote to the Centers for Disease Control and Prevention on Thursday reiterating ABA’s position regarding which bank employees it believes should be considered to receive the vaccines alongside other essential workers.
The federal banking agencies today released 2019 Community Reinvestment Act data on small business, small farm and community development lending.
By a bipartisan vote of 84 to 13, the Senate this afternoon passed the National Defense Authorization Act for fiscal year 2021, a bill that includes several critical improvements to anti-money laundering rules.
In remarks at an industry event today, Federal Reserve Vice Chairman for Supervision Randal Quarles discussed possible ways to improve the supervisory ratings system that regulators use to assess banks’ strength in various risk areas to make them “more consistent and more predictable.”
The American Bankers Association and 51 state bankers associations yesterday wrote to the Uniform Law Commission Committee—which has been tasked with drafting a uniform law on consumer privacy—urging it to retain in the draft the current exemption for information subject to the Gramm-Leach-Bliley Act.
The Consumer Financial Protection Bureau today wrapped up its efforts to revise the Qualified Mortgage standard by issuing final rules defining both the general QM category and a “seasoned” QM standard for certain portfolio loans.