The American Bankers Association encouraged the FDIC today to maintain flexibility as it thinks about how best to conduct exams post-pandemic.
Federal Reserve Governor Michelle Bowman said in a speech today that the as the Fed adapts its supervisory principles for the future, it must enhance transparency around supervisory expectations for safety and soundness and consumer compliance matters.
The FDIC is seeking feedback on its supervisory approach to examinations during the pandemic, including on-site and off-site activities, use of technology and communication methods, according to a request for information published in the Federal Register today.
Panel during ABA’s Regulatory Compliance Conference discussed was how the Biden administration’s focus on racial equity could alter agencies’ approach to governance and oversight.
The Federal Reserve today issued its final rule codifying that regulatory guidance does not have the force and effect of law, granting much of a joint petition filed by ABA and the Bank Policy Institute that sought a formal rulemaking to ensure that banking organizations would not need to rely on a 2018 interagency statement to clarify the role of guidance.
Banking regulators have increasingly used offsite examinations procedures for certain types of monitoring and examination work. During the COVID-19 pandemic, nearly all supervisory events have become virtual. A few tips on how to enhance your bank’s virtual exam approach.
Members of the Federal Reserve’s Community Depository Institution Advisory Council urged the Fed to “be cautious in its approach to allowing non-traditional banks direct access to the payment system” during a recent meeting, flagging recent attempts by several non-bank entities to obtain state or national banking charters that would allow them to circumvent FDIC supervision and Community Reinvestment Act requirements.
The FDIC, OCC, Consumer Financial Protection Bureau and the National Credit Union Administration today each issued final rules codifying that regulatory guidance does not have the force and effect of law, granting much of a joint petition filed by the American Bankers Association and the Bank Policy Institute that sought a formal rulemaking to ensure that banking organizations would not need to rely on a 2018 interagency statement to clarify the role of guidance.
The FDIC board today approved ABA-supported changes to the agency’s guidelines for appeals of material supervisory determinations.
The American Bankers Association submitted a comment letter on Monday supporting a proposed rule by the federal banking regulators to codify and clarify their 2018 interagency statement on supervisory guidance.