Links in “FDIC”

Fulfilling a requirement of the Dodd-Frank Act, the FRB, CFPB, OCC, SEC, FDIC, and NCUA have created an interagency policy statement related to diversity policy and practice standards expected of regulated institutions. Also take a look at the final statement and the board voting. [6/10/15]

A final rule has been adopted by the OCC, Board, FDIC, NCUA, CFPB, and FHFA that sets forth minimum requirements in the Dodd-Frank Act for appraisal management companies. [6/9/15]

The FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers 85 evaluation ratings with three institutions receiving non-passing ratings including First Electronic Bank. [6/5/15]

The FDIC is said to devote 75% of its supervisory efforts to community banks that hold 13% of the industry's assets, drowning smaller banks in "torrential compliance costs." [5/21/15]

CUNA has sent a letter to the Federal Reserve Board, the FDIC, and the OCC in which it states that the transaction limitations on savings accounts have outlived their initial policy purposes and adversely affect credit unions’ ability to serve their members.  In addition, CUNA expresses concerns about proposed changes to Reg. CC that could pose challenges for RDC transactions. [5/14/15]

The FDIC's Director, Jeremiah O. Norton, submitted his letter of resignation Friday, which will be effective June 5, 2015. Chairman Martin Gruenberg commented that Norton's thoughtful insight would be missed. Read his resignation letter here. [5/11/15]

In partnership, the FDIC and the CFPB launched "Money Smart for Young People", a free resource series of lesson plans and resources for teachers and  parents to improve financial education for children by teaching them about managing money and decision-making skills. [4/24/15]

Two senior FDIC officials propose a surgical response to calls for Dodd-Frank relief. The proposal consists of four criteria for an institution to qualify for regulatory relief: no trading assets or liabilities, no high-risk derivatives positions, no derivative exposures of any kind over $3 billion, and a capital level of at least 10%. [4/20/15]

The FDIC is hosting an informational call for FDIC-insured institutions on April 22, 2015, at 1:00 p.m. EDT to discuss the Brokered Deposit Frequently Asked Questions (FAQs) issued in FIL-2-2015. This call will focus on guidance for identifying brokered deposits, accepting deposits, listing services, and other brokered deposit-related matters. [4/17/15]

Leaders of the House Financial Services Committee are calling on the federal regulatory agencies to disavow any involvement in Operation Choke Point. The letters were sent to the FDIC, the CFPB, the NCUA, and the OCC. [4/10/15]