PYMNTS

JULY 22, 2020

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

FDIC 166

FDIC Kansas City San Francisco Missouri 166

Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

CFPB Monitor

AUGUST 3, 2022

On July 25, 2022, the FDIC issued Financial Institution Letter (FIL)-34-2022 announcing updates to Chapters 1 and 4 of its Formal and Informal Enforcement Actions Manual (Manual). The Manual includes updates to the minimum standards for the FDIC’s termination of cease-and-desist and consent orders.

FDIC 78

FDIC Compliance Regulation Regional 78

Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

FDIC 195

FDIC Regulation Strategy Data 195

American Banker

MARCH 29, 2024

The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintechs' compliance with the Bank Secrecy Act and money laundering rules.

FDIC 94

FDIC Fintech Compliance Regulation 94

CFPB Monitor

AUGUST 23, 2022

The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. In the guidance, the FDIC addresses potential risks arising from multiple re-presentment NSF fees, risk mitigation practices, and the FDIC’s supervisory approach. .

FDIC 78

FDIC Compliance System Regulation 78

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

CFPB Monitor

AUGUST 4, 2022

The FDIC has issued an “Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies ” to address the agency’s concerns regarding misrepresentations about FDIC deposit insurance by certain crypto companies. The FDIC identifies two issues that can create customer confusion.

FDIC 78

FDIC Risk Management Policies Regulation 78

Banking Exchange

MAY 19, 2021

Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory.

Regulation 78

Regulation FDIC Compliance Bitcoin 78

American Banker

DECEMBER 21, 2023

finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products. The Federal Deposit Insurance Corp.

FDIC 86

FDIC Online Compliance Regulation 86

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

Compliance 100

Compliance FDIC Community Bank Community 100

Perficient

DECEMBER 21, 2023

Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions. Learn More: U.S.

DC 221

DC FDIC Washington Compliance 221

American Banker

MARCH 20, 2024

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

FDIC 84

FDIC Compliance Regulation Risk Management 84

Banking Exchange

APRIL 12, 2021

OCC, Federal Reserve, CFPB, FDIC, and NCUA are seeking input from banks and other stakeholders Compliance Compliance Management Compliance/Regulatory Cyberfraud/ID Theft AML & Fraud BSA/AML Security Feature3 Feature Duties Technology.

FDIC 135

FDIC Regulation Compliance Fraud 135

American Banker

SEPTEMBER 6, 2023

To help meet its compliance challenges, the company's board added a former FDIC regional director. The consumer lender's stock price has fallen more than 30% since its disclosure of a looming regulatory action, which was followed by the sudden departure of its CEO.

FDIC 81

FDIC Compliance Regional Meeting 81

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC). Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed.

FDIC 221

FDIC Risk Management Regulation Leadership 221

CFPB Monitor

JUNE 18, 2019

Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. The FDIC’s anonymized exam findings include: Overdraft Programs. Regulation E – Mistakes Made in the Consumer Liability/Error Resolution Process.

FDIC 60

FDIC Compliance Regulation Training 60

American Banker

MARCH 21, 2024

The FDIC proposed a new policy to intensify scrutiny on U.S. bank mergers Thursday that emphasizes the resulting institutions' financial stability and ability to serve its community's needs.

FDIC 73

FDIC Policies Community Compliance 73

Banking Exchange

NOVEMBER 28, 2022

Resolution plans for the top eight US banks have been assessed by the Fed and the FDIC Compliance Duties Compliance Management Compliance/Regulatory Feature3 Feature Big Data Digital.

Management 78

Management Data FDIC Regulation 78

American Banker

MARCH 7, 2024

Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says. Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages.

FDIC 74

FDIC Report Lending National 74

American Banker

JULY 7, 2023

The FDIC's New York regional office faced staffing shortages throughout its supervision of now-failed Signature Bank. Experts say more competitive wages, culture shifts and whistleblower protections could help regulators attract and retain talent and improve oversight.

FDIC 78

FDIC New York Regional Regulation 78

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday. bank to fail this year.

United States 221

United States Kansas FDIC Risk Management 221

CFPB Monitor

OCTOBER 26, 2023

On October 24, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a final rule amending their regulations implementing the Community Reinvestment Act. Continue Reading

Community 78

Community FDIC Compliance Regulation 78

American Banker

MARCH 13, 2024

billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency. Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1

FDIC 91

FDIC Groups Compliance Management 91

American Banker

MARCH 22, 2024

The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.

FDIC 41

FDIC Risk Management Iowa Lending 41

CFPB Monitor

NOVEMBER 11, 2021

This suggests that the agencies might provide some leniency in the event of non-compliance. However, it is clear from the overall message delivered by the agencies that servicers who rely on this suggestion with the expectation that they will receive leniency for non-compliance do so at their peril. CFPB mortgage servicing report.

Compliance 78

Compliance Regulation FDIC Meeting 78

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. Apple Bank for Savings was accused of failing to comply with the Bank Secrecy Act, according to the Federal Deposit Insurance Corporation (FDIC) per WSJ.

Apple 150

Apple FDIC New York Compliance 150

CFPB Monitor

DECEMBER 9, 2019

The Federal Deposit Insurance Corporation (the “FDIC”) has published a request for information in the Federal Register (the “RFI”) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions and rulemaking. The format and presentation of regulatory analysis.

FDIC 78

FDIC Analysis Regulation Maine 78

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security FDIC 152

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

CFPB Monitor

MAY 26, 2021

The FDIC has filed a motion for summary judgment in the lawsuit filed by the Attorney Generals of six states and District of Columbia to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the FDIC’s opposition to the summary judgment motion filed by the AGs.

FDIC 78

FDIC District of Columbia Regulation California 78

PYMNTS

DECEMBER 3, 2019

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. It was amended to include the Patriot Act, which requires every bank to adopt a customer identification program.

Regulation 137

Regulation Guidelines FDIC Conference 137

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act.

Compliance 109

Compliance FDIC Strategy Fintech 109

American Banker

JANUARY 4, 2024

The FDIC's public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership. One of the smallest banks in the country hasn't consistently made a profit since 2007 and has been the subject of enforcement actions.

FDIC 72

FDIC Utah Community Bank Community 72