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29 Oct 2023, 6:30 am
The FDIC will accept comments on the Proposed Standards for 60 days after they are published in the Federal Register, which is expected shortly. [read post]
26 Oct 2023, 7:30 am
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. [read post]
25 Oct 2023, 9:01 pm
The Barr Report concluded that SVB’s failure was primarily the result of mistakes made by SVB’s “senior management … to manage basic interest rate and liquidity risk” and the lack of effective oversight by SVB’s board of directors.6 A recent report by a group of bank regulatory experts at the Center for Financial Stability led by Sheila Bair (CFS Report), the Chair of the Federal Deposit Insurance Corporation (FDIC) during the 2008 Great… [read post]
23 Oct 2023, 1:01 pm
Attorney-Adviser, FDIC, CG-14, Washington, D.C., closes 11/2/2023.Gov’t Info. [read post]
18 Oct 2023, 12:52 pm
At its open Board meeting scheduled for October 24, 2023, the Federal Reserve Board is expected to approve its final rule amending its current regulation implementing the Community Reinvestment Act. [read post]
17 Oct 2023, 9:48 pm
A bank account has Federal Deposit Insurance Corporation (FDIC) insurance up to the standard $250,000, but banks allow account owners to specify multiple unique beneficiaries for an informal revocable trust (i.e., a POD account), which provides additional FDIC coverage.[1] The account owner has the flexibility to change, add, or revoke a beneficiary designation. [read post]
16 Oct 2023, 9:01 pm
The dominant-policymaker concept is unique to the FDIC. [read post]
16 Oct 2023, 1:20 pm
While Voyager’s bank partner was FDIC-insured, FDIC deposit insurance protects deposits only in the event of the insured institution’s failure, not the failure of a non-bank partner in the event of that company’s failure. [read post]
13 Oct 2023, 3:15 am
Early this month, the FDIC proposed, by a 3-2 vote, new corporate governance and risk management standards for certain FDIC-regulated institutions. [read post]
26 Sep 2023, 9:01 pm
On August 24, 2023, the Second Circuit affirmed the dismissal of state-law securities claims in Kirschner v. [read post]
25 Sep 2023, 8:54 am
The FDIC has filed motion to dismiss the lawsuit filed in July 2023 in a Minnesota federal district against the FDIC and its Chairman seeking to invalidate the FDIC’s supervisory guidance on charging multiple non-sufficient funds (NSF) fees for the same unpaid item. [read post]
12 Sep 2023, 2:32 pm
by Pillsbury's Construction & Real Estate Law Team In our latest roundup, the FDIC handles the portfolio from Signature Bank, the U.S. [read post]
9 Sep 2023, 4:08 pm
BankFind Suite The Name & Location Search allows you to find FDIC-insured banks and branches from today, to last year, and all the way back to 1934. [read post]
7 Sep 2023, 9:01 pm
In October 2022, the Federal Reserve and FDIC released an advance notice of proposed rulemaking (“ANPR”) on whether they should impose additional resolution-related obligations on larger regional banking organizations that are not G-SIBs, including LTD and clean holding company requirements.4 The LTD Proposal largely follows the requirements discussed in the ANPR. [read post]
7 Sep 2023, 8:00 am
(The FDIC examines state-chartered banks that are not members of the Federal Reserve System.) [read post]
5 Sep 2023, 9:01 pm
Next Steps and Impact The controversial nature of the Proposal was on display in the open board meetings of the Federal Reserve and FDIC when, unusually, the Proposal faced dissent from multiple Federal Reserve governors (Governors Bowman and Waller) and members of the FDIC Board (Vice Chairman Hill and Director McKernan). [read post]
4 Sep 2023, 5:44 am
Treasury and the FDIC in the wake of the SVB failure may have averted a worse crisis. [read post]
31 Aug 2023, 10:41 am
The DOJ opened its investigation of ABOK after receiving a referral from the FDIC. [read post]
10 Aug 2023, 8:10 am
According to the FDIC, “since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds” The FDIC monitors the percentages of the banks funds that aren’t covered by FDIC insurance and hopefully those percentages will be posted more prominently so that depositors, including commercial clients, can know in advance what their risk is. [read post]
9 Aug 2023, 9:01 pm
The release of the Capital Proposal was marked by significant dissents by principals of the FDIC and Federal Reserve. [read post]
