In a letter to Treasury Secretary Steven Mnuchin yesterday, a group of bipartisan lawmakers urged Treasury to prioritize policy changes that would increase coordination between regulatory agencies conducting bank examinations to help reduce the compliance burden on financial institutions.
Browsing: Exam fairness
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today released the latest legislative text of his Financial Choice Act, a 600-page bill aimed at rolling back and reforming parts of the Dodd-Frank Act’s extensive supervisory regime, as well as providing regulatory relief for banks of all sizes.
Regulatory agencies are seeking targeted ways to relieve regulatory burden, according to senior officials speaking at ABA’s Government Relations Summit this morning.
The FDIC’s proposed supervisory changes to expand banks’ exam appeals options are positive but not nearly enough to address exam fairness problems, ABA said in a comment letter today.
The FDIC board today voted to propose amendments to its supervisory guidelines that would expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeals processes and issue examination guidance for third-party lending.
In a comment letter to the federal regulatory agencies today, ABA commended regulators on a recent interim final rule expanding the 18-month exam cycle for certain small insured depository institutions under $1 billion—part of ABA’s Agenda for America’s Hometown Banks.
In supervising banks that made tax refund anticipation loans, the FDIC made “aggressive and unprecedented” use of its supervisory powers and imposed “high costs” on institutions offering the legal products, according to a review issued today by the FDIC’s inspector general.
ABA yesterday offered feedback on the FDIC’s revised proposal for assessing deposit insurance premiums on banks with under $10 billion in assets.
FDIC Releases Revised Rule for Small Bank Deposit Insurance Assessments, Approves Extended Exam Cycles
Following a board meeting earlier today, the FDIC issued revisions to a proposed rule for assessing deposit insurance premiums on banks with under $10 billion in assets.