FDIC

Regulators finalize rule changes to help banks weather pandemic

08/26/20

The agencies completed steps to ease a community bank capital measure temporarily and to delay a new credit-loss accounting standard.

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FDIC's quarterly report shows extent of pandemic's hit to bank profits

08/25/20

The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

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States sue FDIC over 'rent-a-bank' partnerships

08/20/20

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

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Rakuten again withdraws application for bank charter

08/18/20

The Japanese conglomerate first applied for deposit insurance in July 2019 and again in May 2020.

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Would McWilliams stay on at FDIC if Biden wins?

08/18/20

Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different proposition.

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Regulators issue guidance on AML enforcement actions

08/13/20

The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order.

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Brokered deposit law is woefully outdated

08/07/20

As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.

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Big choices about who will lead financial regulators after 2020 election

08/07/20

Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.

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Organizers propose new bank in Ohio

08/04/20

First Bank of Central Ohio would be based near Columbus, where another group opened a bank last year.

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Retailers, tech giants shouldn't get ILCs. Especially now.

07/31/20

For too long, nonbanks have been allowed to form industrial loan companies to operate as banks without Fed oversight. This regulatory pass should not be given during a crisis.

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