McWilliams: FDIC Guidance Forthcoming on AI, Machine Learning
The FDIC is in the process of developing guidance for financial institutions on artificial intelligence…
Browsing: Brokered deposits
ABA Urges Narrower Definition of ‘Deposit Broker,’ Changes to National Rate Cap
In a comment letter to the FDIC today, ABA advocated for updates to the agency’s…
ABA, State Associations Raise Concerns About National Rate Cap in Letter to FDIC
The American Bankers Association joined a group of 51 state bankers associations in a letter to FDIC Chairman Jelena McWilliams today voicing concerns that the national rate cap—which is intended to prevent struggling banks from offering excessively high rates—is being used as a proxy for volatile deposits in examinations of healthy banks.
Legal Analysis Finds FDIC Has Broad Authority on Brokered Deposits
The FDIC has “ample existing authority” to address the regulation of brokered deposits, according to a legal analysis by law firm Jones Day commissioned by ABA.
FDIC Seeks Public Comment on Brokered Deposit Regulations
In a move long sought by ABA, the FDIC today issued an advanced notice of proposed rulemaking on brokered deposits and the national rate cap. ABA has been actively engaged with the FDIC on the need to revise the regulations so that they accommodate modern banking and don’t discourage healthy banks from gathering deposits. Written over
ABA Op-Ed Calls on Congress, FDIC to Revisit Brokered Deposit Rules
In an American Banker op-ed today, the American Bankers Association called on Congress and the FDIC to reconsider existing brokered deposits rules and regulations and modernize them so that consumers can continue interacting their bank in the manner of their choosing.
ABA Supports FDIC’s Reopening of Brokered Deposit Rules
In a comment letter to the FDIC today, the American Bankers Association offered support for a recent proposal to implement Section 202 of S. 2155, the new regulatory reform law.
Financial Services Committee Approves ABA-Backed Bills
The House Financial Services Committee today approved several financial services bills, including two supported by the American Bankers Association.v
FDIC Seeks Comment on the Treatment of Reciprocal Deposits
The FDIC today issued a request for comment on a proposed rule to implement Section 202 of S. 2155, the new regulatory reform law.
Podcast: How Community Banks Can Take Advantage of Reciprocal Deposits
When asked which provision of the S. 2155 regulatory reform bill would be most meaningful to them, community bankers were most likely to rank the policy change to make most reciprocal deposits non-brokered.