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Posted Date: Tuesday, April 16, 2024
The Federal Deposit Insurance Corp. (FDIC) released a report detailing how the agency would manage the orderly resolution of a large, complex financial company under Title II of the Dodd-Frank Act. FDIC Chairman Martin Gruenberg touted the report as “the most comprehensive explanation to date of how the FDIC expects to utilize those authorities.” Read on »
Posted Date: Tuesday, April 9, 2024
The legal battle over modernized Community Reinvestment Act requirements has culminated in a preliminary injunction in federal court. Dodd Frank Update spoke with Garris Horn PLLC Co-Managing Partner Richard Horn about the development, which did not come as a shock to many industry insiders aware of the challenges presented by the cumbersome final rule. Read on »
Posted Date: Tuesday, April 9, 2024
There are often so many regulatory developments to count in a given week that many get lost in the shuffle behind more prominent issues. Here is a look at a handful of recent announcements from federal regulators that you may have missed. Read on »
Posted Date: Tuesday, April 2, 2024
Federal regulators are taking various steps to help safeguard consumers and businesses against risks posed by emerging technology. Learn about one agency’s newly effective rule targeting a specific type of scammer, as well as other recent developments. Read on »
Posted Date: Tuesday, March 26, 2024
Federal banking agencies have extended the implementation period for certain provisions of their modernized Community Reinvestment Act (CRA) rules. Covered entities will have until Jan. 1, 2026, to align their CRA compliance policies and procedures with the revised rules, which had an original applicability date of April 1 of this year. Read on »
Posted Date: Friday, March 22, 2024
The Federal Deposit Insurance Corp. (FDIC) announced it is considering revising its policy statement on bank mergers to be stronger and clearer in response to ongoing consolidation within the financial system.
The FDIC noted that the revised statement of policy is principles-based and reflects legislative and other developments that have occurred since it was last amended in 2008. Read on »
Posted Date: Friday, March 22, 2024
Three companies and certain associated parties received cease-and-desist letters from the Federal Deposit Insurance Corp. (FDIC) for making false and misleading statements about federal deposit insurance. The letters highlight specific examples of violations of the FDIC Act. Read on »
Posted Date: Tuesday, March 19, 2024
Financial stability remains a critical concern for federal banking regulators, prompting them to reconsider certain standards put in place to ensure that covered entities have the proper infrastructure to withstand operational challenges. Learn about these issues and more in this roundup. Read on »
Posted Date: Friday, March 15, 2024
Banks reported $256.9 billion in first-quarter net income, representing a $30 billion drop from the fourth quarter of 2023 and a year-over-year decrease of $6 billion, according to the Federal Deposit Insurance Corp.’s latest Quarterly Banking Profile. About 70 percent of the drop-off was attributed to specific, nonrecurring, noninterest expenses at large banks. Read on »
Posted Date: Friday, March 15, 2024
House Republicans celebrated the passage of H.R. 2799, which aims to facilitate capital formation by strengthening public markets, helping small businesses and entrepreneurs and creating new investment opportunities. The bill passed via a 212-205 vote along party lines. Read on »
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