A federal program to assess IT and cyber risks at financial institutions has several significant flaws that could prevent it from working as intended, and as a result, may affect the insurance premiums paid by those institutions, the Office of Inspector General concluded in a report released this week.
Martin Gruenberg was sworn in this week as chairman of the FDIC. Travis Hill, who will serve as vice chairman, and Jonathan McKernan, who will serve as director, were also sworn in as members of the FDIC Board of Directors.
The Biden administration today issued its Fall 2022 Semiannual Regulatory Agenda—a semiannual listing of rulemakings that departments and agencies expect to initiate or continue during the next six months.
Potential new regulatory requirements to cushion the economic effects of certain large bank failures would not result in real benefits to the financial system or the public, ABA said today in a letter to Federal Reserve and FDIC.
Events of the past year have highlighted several key risks posed by cryptoassets that banks should consider if they wish to offer crypto-related services, the Federal Reserve, FDIC and the Office of the Comptroller of the Currency said today in a joint statement.
The Senate voted today to approve the nominations of Martin Gruenberg to serve as FDIC chairman, Travis Hill as vice chairman and Jonathan McKernan as FDIC board member.
The Federal Reserve and FDIC today announced the asset-size thresholds that will be used to define “small bank” and “intermediate small bank” under Community Reinvestment Act regulations for 2023.
The agency outlined its plans for 220 new positions, primarily to carry out bank supervision and other core mission responsibilities.
Proposal modernizes rules for using official FDIC signs and advertising statements, clarifies deposit insurance coverage misrepresentations.