Abrigo

DECEMBER 13, 2019

The FDIC released a manual on Formal and Informal Enforcement Actions. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The FDIC released its manual on Formal and Informal Enforcement Actions. Key Takeaways.

FDIC 195

FDIC Regulation Capital Lending 195

PYMNTS

MARCH 18, 2020

The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). The agency’s requirements also ask for particular record-keeping and mandate the reporting of information. .

FDIC 142

FDIC Fintech Regulation Industry 142

Perficient

SEPTEMBER 11, 2023

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Chronology of Compliance Engagement In the pre-personal computer age , FDIC examiners would simply show up at a bank, often by surprise, and start requesting documents from bank executives.

Compliance 221

Compliance FDIC Tools Leadership 221

American Banker

NOVEMBER 29, 2023

FDIC Chairman Gruenberg cautioned about deteriorating commercial real estate loans and unrealized losses on securities in a high interest rate enviroment. Net income at banks fell 4.6% year over year in the third quarter, though it remained above pre-pandemic levels, according to the latest Quarterly Banking Profile.

FDIC 69

FDIC Report Security Compliance 69

ABA Community Banking

MARCH 30, 2022

Two reports released today by the FDIC provide data on consumer lending, deposit rates and branch closures in the wake of the COVID-19 pandemic. The post New FDIC Reports Chart Continued Effect of Pandemic on Banks appeared first on ABA Banking Journal.

FDIC 60

FDIC Report Lending Data 60

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

CFPB Monitor

JANUARY 25, 2021

Unless Rakuten’s most recent application is granted before that date, Rakuten’s FDIC insurance application, if approved by the FDIC, would subject Rakuten to the terms of the Rule. Rakuten’s first FDIC deposit insurance application was filed in July 2019, and was withdrawn in March 2020.

FDIC 78

FDIC Utah America Financial Technology 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

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

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. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations.

United States 221

United States Kansas FDIC Risk Management 221

CFPB Monitor

MAY 11, 2021

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. First, it is an example of the FDIC taking a UDAP enforcement action based on collection practices, which has not been a common theme of FDIC actions in the past.

FDIC 78

FDIC Lending Trends Regulation 78

Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Commencing with the first quarterly assessment period of 2024 (i.e.,

FDIC 221

FDIC Risk Management Regulation Leadership 221

ABA Community Banking

MARCH 15, 2021

Farm banks have held up well despite challenges to the agriculture industry since 2014, and problem loan levels have remained modest, according to a new report from the FDIC. The post FDIC Report Highlights Continued Strength of Farm Banks Despite Periods of Challenge appeared first on ABA Banking Journal.

FDIC 59

FDIC Report Industry Community Bank 59

Abrigo

DECEMBER 2, 2014

To provide a report card on industry status and performance, the FDIC publishes a Quarterly Banking Profile. Here are five highlights from the report: Loan Growth Still Increasing. Growth was even stronger at community banks, where over 70 percent reported increased loan growth from the previous quarter.

Community Bank 207

Community Bank FDIC Community Industry 207

PYMNTS

MARCH 30, 2020

1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). Bank regulators have rolled back the Jan.

Report 166

Report US FDIC National 166

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

ABA Community Banking

MAY 24, 2022

FDIC-insured banks and savings associations earned $59.7 decrease from the year prior, the agency reported yesterday in its Quarterly Banking Profile. The post FDIC: Increase in provision expense drives bank net income down appeared first on ABA Banking Journal. billion in the first quarter of 2022, a 22.2%

FDIC 52

FDIC Report Community Bank Community 52

CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. Whether the FDIC finds these arguments persuasive is yet to be seen.

FDIC 78

FDIC Groups Community Meeting 78

PYMNTS

MAY 26, 2016

House lawmakers aren’t letting up on the Federal Deposit Insurance Corporation (FDIC) when it comes to how the banking regulator handled notifications following a slew of recent data breaches. In a joint letter to FDIC Chairman Martin Gruenberg, seen by WSJ , Rep. Lamar Smith (R-TX) and Rep. Earlier this month, a U.S.

FDIC 102

FDIC Data Policies Meeting 102

American Banker

SEPTEMBER 18, 2023

A recent report by the Office of the Inspector General for the Federal Deposit Insurance Corp. suggests that while the FDIC's strategic plan for economic inclusion is satisfactory, it could be improved by formalizing procedures, self-evaluations and gathering more input from banks.

FDIC 36

FDIC Strategy Report Policies 36

PYMNTS

APRIL 11, 2016

In an internal FDIC document obtained by The Washington Post , it was revealed that the data of 44,000 FDIC customers was breached by an employee who left the agency in February. The memo was distributed on March 18 by FDIC Chief Information Officer and Chief Privacy Officer Lawrence Gross Jr. The Federal Deposit Insurance Corp.

FDIC 100

FDIC Data Washington Security 100

ABA Community Banking

MARCH 1, 2022

FDIC-insured banks and savings institutions earned $63.9 billion, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Rise in Fourth Quarter, Full Year appeared first on ABA Banking Journal. billion in the fourth quarter of 2021, a 7.4%

FDIC 64

FDIC Report Community Bank Community 64

PYMNTS

MAY 10, 2016

The Washington Post reported that the FDIC is disclosing to Congress the presence of at least five major data breaches that occurred sometime between now and Oct. Though details are still scarce, the FDIC noted that each case was not of the run-of-the-mill hacking variety.

FDIC 100

FDIC Washington Data Policies 100

ABA Community Banking

SEPTEMBER 8, 2021

FDIC-insured banks and savings institutions earned $70.4 billion in the second quarter of 2021, a 281% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Increase 281% in Second Quarter appeared first on ABA Banking Journal.

FDIC 59

FDIC Report Community Bank Community 59

PYMNTS

SEPTEMBER 8, 2016

With increasingly few exceptions, the ranks of the unbanked seem to be on the decline, according to new data released by the FDIC. According to FDIC data, unbanked American consumers peaked toward the end of the Great Recession in 2011 at 8.2 The percentage of Americans going without banking services fell to 7 percent in 2015 from 7.7

FDIC 100

FDIC Survey Regulation Data 100

Perficient

JUNE 7, 2023

On May 31, the Federal Deposit Insurance Corporation (FDIC) reported to the public what many banks already knew and had been experiencing for the past year – that deposits are declining in the American banking sector. There has almost been $1.2 Trillion removed from the banking system over the past year.

social media 221

social media FDIC Analysis System 221

PYMNTS

JANUARY 25, 2019

Reuters reported that the U.S. Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) all released a joint report saying that due to a healthy economy, prospects for loan repayment look good. gross domestic product (GDP) growth for this year.

FDIC 108

FDIC US Lending Report 108

ABA Community Banking

JUNE 25, 2019

Financial performance among minority depository institutions has significantly improved in the last five years, particularly in terms of loan performance, according to new research from the FDIC. The post FDIC Report: MDI Financial Performance Improved in Last Five Years appeared first on ABA Banking Journal.

FDIC 40

FDIC Report Survey Community Bank 40

PYMNTS

FEBRUARY 24, 2016

23) that commercial banks and savings enterprises that it insures reported net income in the aggregate of $40.8 That growth, the FDIC said, came mainly from a $6.8 More than half of the 6,182 institutions that reported to the FDIC showed growth year over year in earnings in the latest quarter. said on Tuesday (Feb.

FDIC 100

FDIC Community Bank Maine Community 100

CFPB Monitor

APRIL 4, 2019

On April 2, 2019, the FDIC issued Financial Institution Letter FIL-19-2019 (the “Letter”) to remind financial institutions about certain contractual provisions and other requirements pertaining to technology service provider contracts.

FDIC 68

FDIC Technology Guidelines Security 68

Abrigo

NOVEMBER 24, 2015

Add FDIC Chairman Martin J. In prepared remarks for the release of the FDIC’s third-quarter version of the Quarterly Banking Profile , Gruenberg said growing interest-rate risk and credit risk warrant “timely attention” by banks and will “continue to be a focus of supervisory attention.” percent in the third quarter from 34.2

FDIC 150

FDIC Lending Community Bank Industry 150

PYMNTS

JANUARY 7, 2021

Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA , a report from Talk Android says. Being FDIC insured won't have any impact on deposits and Simple's app, cards and website will continue to work, the Talk Android report says. So BBVA pulled the plug.

FDIC 336

FDIC Google User Experience Lending 336

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

CFPB Monitor

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would 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 60

FDIC Taxes Industry Policies 60

ABA Community Banking

OCTOBER 19, 2020

households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report. The post FDIC: Share of Unbanked Americans Reaches Record Low in 2019 appeared first on ABA Banking Journal. The share of U.S.

FDIC 56

FDIC Report Survey ATM 56

ABA Community Banking

NOVEMBER 30, 2021

FDIC-insured banks and savings institutions earned $69.5 increase from a year before, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Up in Third Quarter as Capital, Liquidity Levels Remain Strong appeared first on ABA Banking Journal. billion in the third quarter of 2021, a 35.9%

FDIC 59

FDIC Capital Report Community Bank 59

American Banker

JULY 1, 2020

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.

FDIC 76

FDIC Report Innovation Community Bank 76