Remove Definition Remove FDIC Remove Marketing Remove National
article thumbnail

FDIC issues final rule on brokered deposits and interest rate limits applicable to less than well capitalized institutions

CFPB Monitor

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs).

FDIC 78
article thumbnail

OCC, FDIC, and Federal Reserve propose amendments to CRA regulations

CFPB Monitor

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Dear Mr./Ms. Bank Regulator

Jeff For Banks

John Whatshisname Examiner In Charge Bank Regulatory Body 1 Bureaucrat Way, NW Washington, DC 20429 Mr. Whatshisname, Below is our response to the Matters Requiring Attention ("MRA") that were included in your most recent examination report on Schmidlap National Bank ("Schmidlap"). That, Mr. Whatshisname, is the definition of tyranny.

article thumbnail

CARES Act includes provisions affecting financial institutions and their regulation: some key provisions

CFPB Monitor

Section 4008 of the CARES Act authorizes the Federal Deposit Insurance Corporation (FDIC) to establish a debt guarantee program to guarantee the debt of solvent insured depository institutions and depository institution holding companies. Section 4008 – Debt Guaranty Authority.

article thumbnail

The OCC’s final CRA rule: what changed from the agency’s proposed rule?

CFPB Monitor

The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule. Therefore, the final rule does not include middle-income rental housing in high-cost areas components of the affordable housing criterion or the definition of high-cost area.

article thumbnail

Mezu: What It Would Take To Replace Cash

PYMNTS

That got Brisker thinking: Although there are many useful digital payments tools on the market, there’s nothing that really replaces cash in the way we know it. That, he said, is not the nature or definition of cash, which is a non-personal, immediate tender that leaves no trace – a very appealing quality in today’s privacy-concerned world.

Tools 118
article thumbnail

Three Wishes for Bankers

Jeff For Banks

According to a 2015 FDIC National Survey of Unbanked and Underbanked Households , seven percent of US households were unbanked, meaning they had no account at an insured financial institution, and 19% were underbanked, meaning they used non-traditional financial providers like pre-paid cards and/or payday lenders.

Taxes 60