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Posted Date: Friday, June 21, 2024
Recognizing the high cost of lengthy merger cycles involving large banks, the Federal Deposit Insurance Corp. finalized amendments to its resolution planning criteria for banks with $50 billion or more in total assets.
A covered insured depository institution would have to demonstrate in its resolution plans how it could be wound down without a merger under the amended final rule. Read on »
Posted Date: Tuesday, June 18, 2024
As the comment period closes for regulatory changes under the Bank Merger Act, proposed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., the financial industry and lawmakers have given regulators plenty to consider in their responses. Read on »
Posted Date: Friday, June 14, 2024
President Joe Biden nominated a new chair of the Federal Deposit Insurance Corp. to succeed Martin Gruenberg The nomination came the day following the House Financial Services Committee’s hearing regarding allegations of workplace misconduct during Gruenberg’s tenure as chair. Read on »
Posted Date: Tuesday, June 11, 2024
The Federal Deposit Insurance Corp. charged an Arkansas-based bank and nine former employees at a Michigan-based loan program office for deceiving 900 Veterans Administration loan borrowers. Read on »
Posted Date: Tuesday, June 11, 2024
The banking sector saw a significant increase in aggregate net income in the first quarter, according to the Federal Deposit Insurance Corp.’s quarterly banking profile. The report connected the uptick to a notable drop in noninterest expense coupled with higher noninterest income. Read on »
Posted Date: Friday, May 31, 2024
House Financial Services Committee Chair Patrick McHenry (R-N.C.) is demanding top banking regulatory officials testify regarding allegations of workplace misconduct at the Federal Deposit Insurance Corp. Read on »
Posted Date: Tuesday, May 21, 2024
Federal Deposit Insurance Corp. Chair Martin Gruenberg announced he will step down from his role following the results of an independent investigation into workplace misconduct within the agency during his tenure. Gruenberg said he plans to leave once a replacement is confirmed. Read on »
Posted Date: Friday, May 17, 2024
The Federal Reserve and the Office of the Comptroller of the Currency will hold a joint public meeting to collect stakeholder feedback on a proposed merger between Capital One Financial Corp. and Discover Financial Services. The agencies also announced a second extension to the public comment period for the proposal through July 24. Read on »
Posted Date: Tuesday, May 14, 2024
Nonbank mortgage activity and the use of automated tools in lending decisions are among the main focal points in the Financial Stability Oversight Council’s (FSOC) annual report summarizing key vulnerabilities in the financial system and recommendations for mitigating risks, as well as the council’s activities in 2023. Regulators commented on the need for FSOC to have more tools to help stem emerging financial stability risks. Read on »
Posted Date: Tuesday, May 14, 2024
Executive compensation at some of the country’s largest banks is the subject of a new proposal by federal banking regulators. The proposed rule would implement one of the last remaining provisions of the Dodd-Frank Act and requires approval from six regulatory agencies.
The Federal Deposit Insurance Corp. voted 3-2 in favor of putting the notice of proposed rulemaking out for comment despite having secured support from only four of the six required federal agencies. Read on »
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