Links in “FDIC”

The FDIC is encouraging consumers to use the upcoming America Saves Week, which runs between February 23 and February 28, 2015, as a time to begin or continue saving towards financial goals. [2/13/2015]

The OCC, FRB, and FDIC launched an automated tool to calculate risk-based capital requirements for securitization exposures in what they are calling the simplified supervisory formula approach. [2/12/15]

The Sixth Circuit Court renewed a Detroit-based commercial law corporation’s lawsuit against the FDIC for $176,750 in deferred attorney’s fees for legal services provided by the corporation to a now-failed Michigan bank. The FDIC had relied upon the D’Oench doctrine, a 1940s case which focused on the inability to demand rights against the FDIC when evidence such as non-written statements are relied upon. [2/6/15]

The FDIC issued a new statement encouraging institutions to take a risk-based approach in assessing individual customer relationships rather than declining to provide banking services to entire categories of customers. The action follows a series of efforts by regulators to reduce “de-risking,” or exiting whole business lines by financial institutions. [1/30/15]

The FDIC announced Highland Community Bank (of Chicago, Illinois) as the second assumed/failed bank of 2015, with appointment to the FDIC and corresponding assumption agreement with United Fidelity Bank (of Evansville, Indiana) for the assumption of the deposits of Highland Community Bank. HCB's two branch offices—with $54.7 million in total assets—resulted in an impact of $5.8 million to the FDIC fund and ensures full services to depositors of HCB by UFB. [1/26/15]

The FDIC is seeking comments on how its survey can be improved through better understanding the challenges underbanked and underserved households face when deciding where and how to conduct financial transactions. [1/22/15]

OCC, the Fed, and the FDIC are hosting their next outreach session on their efforts to reduce the regulatory burden on Feb. 4 in Dallas. Got anything you want to share with them? [1/16/15]

The FRB, FDIC, and OCC announced additional outreach meetings as part of the EGRPRA. The meetings will provide an opportunity for people to present their views on the 12 categories that started the EGRPRA public comment process. [1/15/15]

John K. Lawrence of Dickenson Wright, PLLC provides a sound review of the FDIC's guidance on brokered deposits. The article provides a summary of the FAQs, highlights the limitations on brokered deposits, clarifies what constitutes a brokered deposit, and notes the reporting obligations. [1/13/15]

In a series of releases, two agencies are promoting financial check-ups and guidance. The FDIC's focuses on a checklist of questions and suggestions that can help individuals better meet their financial goals. The CFPB directed their guidance to parents to help children understand the value of money. Suggestions include "think[ing] out loud as you pay your bills." [12/24/14]