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20 Feb 2019, 8:28 am
On February 8, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission (collectively, the “Agencies”) published for public comment a Notice of Proposed Rulemaking (the “NPRM”) to amend the Volcker Rule to comply with amendments made to the Rule under the May 2018… [read post]
1 Dec 2017, 10:49 am
The bill would require the Board of Governors of the Federal Reserve System to revise the “Small Bank Holding Company and Savings and Loan Holding Company Policy Statement” to increase the consolidated asset threshold thereunder from $1 billion to $3 billion, leaving the other requirements of such bank holding companies and savings and loan companies the same. [read post]
17 Sep 2018, 6:00 am
The Securities and Exchange Commission, The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency all clarified that staff guidance is not a regulation. [read post]
10 Jun 2015, 3:54 pm
Secret Service, Federal Deposit Insurance Corporation (FDIC) and the Office of Inspector General for the Board of Governors of the Federal Reserve System—Consumer Financial Protection Bureau. [read post]
9 Dec 2014, 3:27 pm
The prosecution is the result of a five year investigation by the FDIC Office of Inspector General, the SIGTARP, the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau Office of Inspector General, and the FBI.The post Former CFO Admits Manipulating Bank Loan Portfolio to Auditors appeared first on Mortgage Fraud Blog. [read post]
24 Feb 2021, 6:29 pm
These requirements include: Having in place systems, policies, practices and procedures, acceptable to the OCC, to ensure the safe and sound operation of Protego, all of which must be continuously reviewed by the board of directors; Obtaining adequate fidelity bond coverage; Applying for membership in the Federal Reserve System; Ensuring all other required regulatory approvals have been obtained; and Ownership of qualifying shares by Protego’s directors in… [read post]
16 Jul 2014, 4:10 pm
Killian, Principal – Sandler ONeill “After receiving more than 2,500 comment letters from U.S. banks and other interested parties, raising over 400 different concerns, 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), delayed the implementation date of the Basel III capital rules for all U.S. banking… [read post]
24 Feb 2011, 7:23 am
” Chairman Bair characterized the decision to bail out Bank of America as demonstrating that the FDIC, an independent agency, was a “team player along with the Federal Reserve and the Treasury to prove the systemic risk case. [read post]
17 May 2012, 2:15 pm
Prior to joining Mellon in 1982, he was in the Legal Division of the Federal Reserve Board in Washington, DC for 11 years; when he left the Federal Reserve he was Assistant General Counsel, responsible for the bank holding company area. [read post]
20 Jul 2010, 6:18 am
The Guidance finalizes the proposal issued by the Federal Reserve in October 2009. [read post]
10 Apr 2023, 9:05 pm
“The last major revisions to the CRA regulations were made in 1995,” explained Lael Brainard, then-Vice Chair of the Board of Governors of the Federal Reserve System. [read post]
22 Jul 2009, 4:14 am
It is defined as: the taking or attempted taking of anything of value from a person or presence of another by the use of force and violence or intimidation when the property is insured by Federal Deposit Insurance Corporation and is the property of any bank, credit union or any savings and loan association that is a member bank of the Federal Reserve System or organized or operating under the laws of the United States. [read post]
20 Jun 2018, 6:02 am
Most major pieces of financial regulation—from the National Bank Act of 1864 on up to the Federal Reserve Act of 1914, the Banking Acts of 1933 and 1935, and the Dodd-Frank Act of 2010—imposed substantial costs on powerful, incumbent financial interests. [read post]
7 Aug 2022, 9:01 pm
The Basel Principles are intended “to accommodate a diverse range of banking systems” and to be applied “on a proportionate basis depending on the size, complexity and risk profile of the bank or banking sector for which the authority is responsible. [read post]
26 Jun 2023, 9:01 pm
With the popularization of interstate banking, financial conglomeration, online and mobile banking, and the digital transformation of our economy, the banking system of today bears little resemblance to the banking system of three decades ago. [read post]
15 Oct 2008, 9:48 pm
Magic section 13 of the governing statute says:In unusual and exigent circumstances, the Board of Governors of the Federal Reserve System, by the affirmative vote of not less than five members, may authorize any Federal reserve bank, during such periods as the said board may determine, at rates established in accordance with the provisions of section 14, subdivision (d), of this Act, to discount for any individual, partnership, or… [read post]
30 Jan 2012, 7:17 am
The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) requires that the Board of Governors of the Federal Reserve System (“Federal Reserve”) impose enhanced supervisory requirements on the largest bank holding companies – in general, those with at least $50 billion, but with respect to certain requirements, those with at least $10 billion assets – and those nonbank financial companies… [read post]
20 Apr 2023, 1:18 pm
The Treasury and the Federal Reserve Board, say subsidiary of Wells Fargo and its predecessor, Wachovia Bank, provided a European bank with financial software, called Eximbills, that was used to process 124 transactions with blacklisted entities and the transactions totaled about $532 million. [read post]
16 Nov 2010, 9:35 am
A paper that I wrote while an employee of the Federal Reserve System a couple years back documents the presence of ‘redlining’ in the issue of credit cards. [read post]
12 Dec 2008, 6:07 am
The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.Bloomberg filed suit Nov. 7 under the U.S. [read post]
