The American Bankers Association and two other banking trade groups urged the FDIC yesterday to address concerns about proposed changes to regulations regarding deposit insurance rules for revocable trusts, irrevocable trusts and mortgage servicing accounts.
The American Bankers Association told the FDIC today that covered institutions continue to encounter major challenges in complying Part 370, which addresses timely deposit insurance determination recordkeeping.
FDIC-insured banks and savings institutions earned $70.4 billion in the second quarter of 2021, a 281% increase from a year before at the height of the COVID-19 pandemic, the FDIC reported today in its Quarterly Banking Profile.
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.