The FDIC board today approved a proposal to simplify the deposit insurance rules for deposits of trusts and mortgage servicing accounts. Comments on the proposal will be due 60 days after publication in the Federal Register, and the American Bankers Association will file a comment letter.
The American Bankers Association urged the FDIC yesterday to address potentially deceptive practices by nonbank entities implying deposit insurance coverage that could mislead consumers.
The FDIC today outlined a modified approach to implementing its rule requiring insured depository institutions with $100 billion or more in total assets to submit resolution plans.
The FDIC board today voted not to raise deposit insurance assessments on banks in order to recapitalize its insurance fund.
FDIC-insured banks and savings institutions earned $76.8 billion in the first quarter of 2021, a 315.3% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile.
The American Bankers Association urged the FDIC yesterday to modernize its signage requirements to reflect new technologies and provide clarity about requirements regarding displays, promotional materials and social media advertising.
The FDIC today proposed a rule implementing its authority to prohibit misrepresentations about deposit insurance or misusing the FDIC’s name or logo.
As part of its effort to foster greater transparency, efficiency and innovation, the FDIC is renewing its effort to seek input on how it can modernize and revise its official sign and advertising rules.
Two firms—Thrivent Financial and Brex—have submitted applications in recent days to the Utah Department of Financial Institutions and the FDIC to operate industrial loan company subsidiaries.
FDIC-insured banks and savings institutions earned $59.9 billion in the fourth quarter of 2020, a 9.1% increase from the year prior, but full-year net income declined 36.5% to $147.9 billion, the FDIC reported today in its Quarterly Banking Profile.