News Topic: FDIC

The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings. ... Read full article

The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships. ... Read full article

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. ... Read full article

Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper. ... Read full article

Ericson State Bank, which had been in regulators’ sights for a decade, was closed by state and federal authorities Friday. Another bank acquired all of its deposits and a fraction of its assets. ... Read full article

The inspector general also said high turnover at the chief information officer position has limited the agency's ability to modernize its technology. ... Read full article

Five Republican senators want to cut off deposit insurance for banks that have stopped offering financial services to firms that operate detention facilities and private prisons on behalf of the federal government. ... Read full article

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that. ... Read full article

Four Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter. ... Read full article

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures. ... Read full article

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators. ... Read full article

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures. ... Read full article

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators. ... Read full article

An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would cut off minority borrowers’ access to small-dollar loans and hurt some community banks. ... Read full article

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions. ... Read full article

At a recent congressional hearing, OCC chief Joseph Otting showed just how far he might go in allowing reinvestment credits to lenders. ... Read full article

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit. ... Read full article

In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures. ... Read full article