CFPB Monitor

MARCH 27, 2019

The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. Leonard will also provide advice on the FDIC’s efforts to promote innovative financial services technologies. He is an excellent attorney and brings to the FDIC substantial familiarity with the consumer financial services industry.

FDIC 113

FDIC Community Regulation Groups 113

CFPB Monitor

MARCH 28, 2023

After reviewing the circumstances leading to the failure of SVB and historic parallels, we discuss the merits of the regulators’ decision to invoke the Systemic Risk Exception and protect all SVB deposit accounts, notwithstanding the $250,000 FDIC insurance limitation, alternate approaches that regulators might have considered for protecting uninsured (..)

FDIC 78

FDIC Regulation Groups System 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

CFPB Monitor

FEBRUARY 7, 2024

Several national and Texas banking and business trade groups have filed a lawsuit in the U.S.

Texas 78

Texas Community Groups FDIC 78

CFPB Monitor

JUNE 4, 2020

As the federal regulator with supervisory authority over (non-Federal Reserve member) state banks and savings associations, the FDIC continues to play an important role in the consumer protection arena. ET, PLI will offer a one-hour briefing, “Consumer Protection: What’s Happening at the FDIC.” On June 30, 2020, at 3:00 p.m.

FDIC 78

FDIC Groups Lending Industry 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. In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank.

United States 221

United States Kansas FDIC Risk Management 221

CFPB Monitor

OCTOBER 9, 2018

The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” The RFI contains specific questions on which the FDIC seeks input that address three topics: efficiency, ease of access, and content.

FDIC 74

FDIC Community Bank Policies Community 74

CFPB Monitor

JULY 15, 2020

When the OCC issued its final Community Reinvestment Act (“CRA”) rule on May 20, 2020, the agency acted alone without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued its proposed rule. As to the Federal Reserve Board (“FRB”), it had already bowed out of the CRA reform effort in 2019.

FDIC 78

FDIC Community Bank Community Regulation 78

CFPB Monitor

JULY 23, 2021

The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “ Madden -fix” rule. The reply responds to the AGs’ opposition to the FDIC’s summary judgment motion. The state AGs have also filed a motion for summary judgment.

FDIC 78

FDIC California Compliance Tools 78

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

PYMNTS

OCTOBER 11, 2017

The Independent Community Bankers of America (ICBA), the trade group for community banks, is calling on the Federal Deposit Insurance Corporation (FDIC) to deny a federal deposit insurance application by payment terminal company Square. This isn’t the first time the group has opposed a deposit insurance application.

Groups 102

Groups FDIC Community Bank Community 102

CFPB Monitor

JULY 7, 2022

Four leading trade groups are calling on the CFPB to rescind the recent updates to the UDAAP section of its Supervision and Examination Manual that instruct examiners to consider discrimination in connection with non-credit products and services as an unfair act or practice. Chamber of Commerce.

Groups 145

Groups West Virginia Policies Virginia 145

CFPB Monitor

FEBRUARY 20, 2020

The OCC and FDIC announced yesterday that they have extended the 60-day comment period for their joint proposal to revise their regulations implementing the Community Reinvestment Act that was published in the Federal Register on January 8, 2020. As extended by 30 days, the comment period ends on April 8, 2020.

FDIC 78

FDIC Community California National 78

CFPB Monitor

JANUARY 24, 2019

A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. They recommend that “the FDIC discourage banks from entering into these relationships in any guidance it issues on small-dollar lending.”.

FDIC 74

FDIC Lending District of Columbia Compliance 74

American Banker

APRIL 28, 2024

Three industry groups are suing the state in an effort to stop its attempted crackdown. The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow.

Colorado 36

Colorado FDIC Groups Industry 36

CFPB Monitor

MARCH 17, 2021

On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. The FDIC’s request mirrors those by shareholder activists to obtain greater disclosure from corporate boards on the efficacy of their diversity programs.

FDIC 78

FDIC CA Policies Compliance 78

South State Correspondent

MAY 7, 2024

With the assistance of the FDIC, Fulton Financial acquired certain assets, debt and deposits of Republic Bank. However, Republic Bank’s loan portfolio mix is not dissimilar to its peer group, and there was no credit stress in that loan portfolio. This first bank failure in 2024 is reported to cost the Deposit Insurance Fund $667mm.

Risk Management 195

Risk Management Security Management Groups 195

Jeff For Banks

JANUARY 26, 2023

I recently spoke to a community group, and subsequently a community bank all-staff meeting regarding the definition of a community bank. The FDIC has defined community banks in their December 2020 Community Banking Report that either exclude or include the following criteria: Seems complicated. A pretty small asset size, in my opinion.

Community Bank 147

Community Bank Community FDIC Risk Management 147

CFPB Monitor

AUGUST 1, 2018

By way of example, the 2016 FAQ states that deposits generated by “advertising or referrals by third parties (such as nonprofit affinity groups as well as commercial enterprises), in exchange for volume-based fees” would be deemed brokered deposits even if the customers themselves would subsequently become core customers of the institution.

FDIC 68

FDIC Regulation Innovation Resources 68

South State Correspondent

SEPTEMBER 11, 2023

On September 7, 2023, the FDIC released its banking profile. This quarterly publication provides a comprehensive financial results summary for all FDIC-insured institutions (4,645 commercial banks and savings institutions insured by the FDIC). While banks under $10B in assets comprise 97.8% of total assets).

Community Bank 195

Community Bank Community FDIC Industry 195

CFPB Monitor

JUNE 8, 2023

A group of federal agencies have proposed reconsideration of value (ROV) guidance for residential real estate valuations. Comments on the proposed guidance will be due 60 days after publication in the Federal Register.

FDIC 78

FDIC National Groups Lending 78

American Banker

JUNE 16, 2023

The Senate bill, which will receive a committee vote next week, would give the FDIC the option to take back compensation from executives at failed institutions. Some advocacy groups want stronger language.

FDIC 78

FDIC Groups Policies 78

Perficient

JANUARY 25, 2023

According to the Federal Deposit Insurance Corporation (FDIC), in 2000, there were 8,000 commercial banks in the United States, but as of March 2022, that number had dwindled to 4,194 operating physical bank branches.

Banking Trends 474

Banking Trends Trends United States FDIC 474

American Banker

MARCH 13, 2024

A bipartisan group of senators called on the Federal Deposit Insurance Corp. to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration.

FDIC 36

FDIC Exercises Groups Industry 36

CFPB Monitor

AUGUST 3, 2023

Yesterday, we published a blog post in which I urged the CFPB to agree to extend the relief granted by the Texas federal district court in the lawsuit challenging the CFPB’s final small business lending rule (Rule) to all entities covered by the Rule.

Texas 78

Texas Lending FDIC Compliance 78

CFPB Monitor

SEPTEMBER 22, 2022

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation joined by Martin Bryce, a partner and senior litigator in the firm’s Consumer Financial Services Group, and Kristen Larson, Of Counsel in the CFS Group. To listen to the episode, click here.

FDIC 78

FDIC Compliance Groups Regulation 78

TheGuardian

MARCH 17, 2023

SVB Financial Group filed for chapter 11 protection on Friday in New York bankruptcy court where administrators will set about selling off assets to meet creditors claims. Continue reading.

Company 74

Company FDIC New York Groups 74

CFPB Monitor

SEPTEMBER 23, 2021

Marketing by nonbanks of products and services offered with bank partners is coming under increasing scrutiny that focuses on the potential for consumers to be led to believe that the nonbank is a bank, or is FDIC insured. Click here to listen to the podcast.

FDIC 60

FDIC Marketing Groups Regulation 60

PYMNTS

JULY 26, 2019

FDIC) and the state of Utah for an industrial loan company (ILC) charter. ILCs can sidestep banking company holding requirements while still getting FDIC guarantees on deposits, which means that retail firms can have them. Rakuten has about 13 million active users who earn rewards for purchasing products from participating merchants.

Fintech 192

Fintech Utah US FDIC 192

American Banker

JANUARY 16, 2024

The Federal Reserve's inexplicable failure to enforce rules requiring Silicon Valley Bank Financial Group to serve as a "source of strength" for its subsidiary saddled the FDIC with billions in extra losses.

FDIC 31

FDIC Groups Policies Compliance 31

American Banker

NOVEMBER 22, 2022

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FDIC 41

FDIC Groups 41

American Banker

AUGUST 25, 2022

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FDIC 54

FDIC Groups Compliance Lending 54

American Banker

FEBRUARY 19, 2020

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.

FDIC 75

FDIC Regulation Community Groups 75

American Banker

NOVEMBER 29, 2022

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FDIC 36

FDIC Groups Regulation Policies 36

American Banker

DECEMBER 13, 2021

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FDIC 48

FDIC Groups Industry Policies 48

American Banker

APRIL 5, 2016

In an interview, FDIC Chairman Martin Gruenberg said the FDIC will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

FDIC 28

FDIC Groups Community Bank Community 28

American Banker

APRIL 5, 2016

In an interview, FDIC Chairman Martin Gruenberg said the FDIC will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

FDIC 28

FDIC Groups Community Bank Community 28