Search for: "Federal Deposit Insurance Corporation"
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9 Jan 2024, 10:16 am
” Starting in February, FinCEN will begin to provide access to BOI in phases to authorized government agencies and financial institutions that meet the requirements of the final rule.In conjunction with the final rule, the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued an interagency statement to provide banks and non-bank financial institutions guidance on how they must… [read post]
2 Jan 2024, 12:56 pm
The Number of Federal Court Securities Class Action Lawsuit Filings Increased in 2023 Securities class action lawsuits represent the most significant severity risk for public company D&O insurers. [read post]
28 Dec 2023, 9:05 pm
The termination of the national emergency will end waivers impacting several federal health programs, including Medicaid, Medicaid, and the Children’s Health Insurance Program (CHIP), as well as the Department of Housing and Urban Development’s COVID-19 mortgage forbearance program. [read post]
13 Dec 2023, 3:06 pm
Certain federal agencies regulate the banking industry, such as the Federal Deposit Insurance Corporation. [read post]
12 Dec 2023, 5:00 am
CNA and Valley Forge Insurance. [read post]
29 Nov 2023, 8:25 am
How does one compete when offering lower interest, especially given the deposit insurance in both cases? [read post]
29 Nov 2023, 6:45 am
” (The regulators are the Federal Reserve Board, the Comptroller of the Currency, and the Federal Deposit Insurance Corp.) [read post]
27 Nov 2023, 5:44 am
The lawmakers note in their November 15 letter that SAB 121 was issued without any consultation with any of the prudential regulators—the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board of Governors (Fed), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA). [read post]
13 Nov 2023, 9:05 pm
The Council also was not persuaded by comments that it was required by the court decision in MetLife[7] to conduct a cost-benefit analysis or an assessment of the likelihood of a company’s material financial distress prior to making a designation.[8]The Interpretive Guidance will become effective 60 days following its publication in the Federal Register and the Analytic Framework will become effective upon its publication. [read post]
13 Nov 2023, 9:01 pm
On October 24, 2023, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the “Agencies”) released their final Principles for Climate-Related Financial Risk Management for Large Financial Institutions (the “Climate Principles”). [read post]
13 Nov 2023, 2:32 pm
On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). [read post]
10 Nov 2023, 9:02 am
The OCC TCPA-related procedures are interagency in nature, involving the OCC, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. [read post]
29 Oct 2023, 9:01 pm
On October 11, 2023, the Federal Deposit Insurance Corporation (the “FDIC”) published in the Federal Register for comment a notice of proposed rulemaking to establish new guidelines (the “Proposed Guidelines”) for governance and risk management at FDIC-supervised insured depository institutions with $10 billion or more in consolidated assets (“covered institutions”).[1] The Proposed Guidelines would be issued… [read post]
29 Oct 2023, 6:30 am
On October 3, 2023, the Federal Deposit Insurance Corporation (“FDIC”) proposed standards for corporate governance and risk management for the institutions it regulates that have $10 billion or more in total assets (“Proposed Standards”).[1] The Proposed Standards would establish extensive and rigid requirements for a wide range of state-chartered banks.[2] Further, they would reverse decades of reliance on state law for… [read post]
29 Oct 2023, 6:30 am
On October 3, 2023, the Federal Deposit Insurance Corporation (“FDIC”) proposed standards for corporate governance and risk management for the institutions it regulates that have $10 billion or more in total assets (“Proposed Standards”).[1] The Proposed Standards would establish extensive and rigid requirements for a wide range of state-chartered banks.[2] Further, they would reverse decades of reliance on state law for… [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)… [read post]
18 Oct 2023, 12:52 pm
The Federal Deposit Insurance Corporation is expected to approve its final CRA rule at the meeting of its Board of Directors also scheduled for October 24.... [read post]
18 Oct 2023, 6:42 am
Now it is a focus and purview of federal law enforcement agencies. [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]
