Perficient
DECEMBER 29, 2023
Since that blog was published, the FDIC has issued an update on its Restoration Plan for the Deposit Insurance Fund (DIF). The Federal Deposit Insurance Act (FDI Act) requires the FDIC Board to adopt a restoration plan when the DIF’s reserve ratio—the ratio of the fund balance relative to insured deposits—falls below 1.35
CFPB Monitor
JUNE 29, 2020
The FDIC has issued its widely anticipated final rule resolving the uncertainty caused by the Second Circuit’s Madden v. The FDIC’s Notice of Proposed Rulemaking (“NPR”) was published the same week as an OCC proposed rule intended to address the same issue for national banks under Section 85. On July 20, 2020, from 12:00 p.m.
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Abrigo
MAY 20, 2022
Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.
FICO
JANUARY 13, 2020
banking industry in the 2020. . The CFPB will issue its final debt collection rule in the fall of 2020. I predict we will see the final rule during the early portion of the 2020 NFL season. The FCC will issue updated interpretations of the Telephone Consumer Protection Act in 2020. I say Congress gets a deal done in 2020.
Jeff For Banks
DECEMBER 10, 2023
The first bank to crack the Top 5 over $50 billion did so in 2020. Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. In 1935, R.P.
Jeff For Banks
JANUARY 14, 2021
A mid-2020 survey performed by Cornerstone Advisors showed that 51% of retail customers that opened a new bank account within the last three months did so at a large, national bank. When I made that speech in 2008, there were approximately 8,500 FDIC-insured financial institutions and today that is around 5,000, a 40% decline.
CFPB Monitor
JANUARY 25, 2021
The final rule creating a new seasoned loan Qualified Mortgage was also published in the Federal Register on December 29, 2020 and scheduled to go into effect on March 1, 2021. The other agencies that adopted a substantially similar rule on January 19 are the FDIC, the Federal Reserve Board, and the NCUA.).
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