News Topic: FDIC

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit. ... Read full article

Sen. Elizabeth Warren introduced a bill to require CFPB approval for certain bank merger applications in the wake of regulators' approval of a deal between BB&T and SunTrust. ... Read full article

Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed. ... Read full article

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks. ... Read full article

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric. ... Read full article

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said. ... Read full article

The agency said it plans to make its cost-benefit process “more structured” and incorporate “a number of analytical practices identified in standard references.” ... Read full article

The Financial Crimes Enforcement Network and other regulatory agencies confirmed that the recent legalization of the substance eases banks' anti-money-laundering requirements. ... Read full article

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule. ... Read full article

One-time expenses at a handful of large banks marred an otherwise solid quarter, while higher charge-offs point to possible credit-quality concerns. ... Read full article

Profits dipped 7% from a year earlier but banks still earned nearly $60 billion, the agency said in its Quarterly Banking Profile. ... Read full article

Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs. ... Read full article

A proposal to modernize the Community Reinvestment Act could be just a snippet of what regulators try to accomplish as they wrap up 2019. ... Read full article

Readers react to the FDIC's proposal allowing banks to hire ex-cons, regulators looking into climate-change risk at banks, whether rewards programs drive loyal customers and more. ... Read full article

The smooth and relatively short process should be encouraging to other big banks that are eyeing deals. But their window of opportunity may not last long. ... Read full article

The Comptroller of the Currency said the Federal Reserve had disagreements with the metrics of a pending proposal to revamp the Community Reinvestment Act. ... Read full article

The regulators approved the deal after nine months of consideration, but the Fed hit SunTrust with a consent order tied to "unfair and deceptive" business practices from 2013 to 2017. ... Read full article

The proposal would allow applicants with minor criminal records to work in the banking industry. ... Read full article