News Topic: FDIC

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis. ... Read full article

Northern Trust, which along with 16 other organizations had the public portion of its resolution plan released, said it made changes to its living will as a result of criticism by regulators. ... Read full article

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate. ... Read full article

Oriental Bank in San Juan was ordered to pay just over $153,000 for failing to notify borrowers that they were required to purchase flood insurance. The fine was one of several November enforcement actions made public Friday by the FDIC. ... Read full article

State and federal regulators finally approved the Mississippi bank’s acquisitions of Ouachita Bancshares and Central Community after anti-laundering and CRA matters were resolved. BancorpSouth’s CEO says he may pursue more deals. ... Read full article

Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million. ... Read full article

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out. ... Read full article

The Federal Reserve and Federal Deposit Insurance Corp. identified shortcomings with the living wills of Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley, even as they gave them and the remainder of the eight biggest banks a pass. ... Read full article

The Federal Deposit Insurance Corp. approved a $2.09 billion budget for 2018, a 3% reduction from 2017, with cuts to receivership funding and nonpermanent staff. ... Read full article

Washington Federal in Chicago, which had a clean balance sheet and plenty of capital on Sept. 30, was shuttered shortly after the death of its CEO and regulators' discovery of "substantial dissipation of assets." ... Read full article

For the first time in nearly nine years, an acquirer of a failed bank agreed to purchase only the institution’s insured deposits, making it likely that some customers will not recoup all of their uninsured funds. ... Read full article

The Federal Deposit Insurance Corp. has forged a pact with the European Union-based entity that handles failed-bank cleanups to share information and collaborate on planning for cross-border resolutions. ... Read full article

The industry derides the proprietary trading ban as costly, and the Trump administration has heard those concerns. Yet regulators must choose between subtle though expedient pin-prick changes versus a more drastic overhaul. ... Read full article

Fed's supervision chief wants more openness on bank stress tests; cybercurrency jumps 40% in 40 hours, climbing past $19,000. ... Read full article

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators. ... Read full article

More than 10 months into office, the Trump administration’s takeover of banking regulators is effectively complete. ... Read full article

The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies. ... Read full article

Jelena McWilliams, Fifth Third Bancorp’s chief legal officer, is the choice for FDIC chair; digital currencies pose too many risks. ... Read full article