FDIC

Banks back bill to eliminate brokered deposit restrictions

06/17/20

The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized.

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FDIC eyeing bank dividends; Morgan Stanley sued by former diversity head

06/17/20

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.

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‘Another unprecedented period’: FDIC reports dramatic 1Q profit drop

06/16/20

In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier.

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Strip FASB of its powers

06/12/20

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission.

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Even with FDIC endorsement, fintechs' path to becoming banks is bumpy

06/03/20

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

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Rakuten refiles with FDIC for ILC charter

05/29/20

The Japanese e-commerce giant is taking another run at a U.S. banking charter after receiving feedback from the Federal Deposit Insurance Corp. about its initial application, which was withdrawn earlier this year.

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OCC finishes rule meant to sidestep 'Madden' ruling

05/29/20

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

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Community groups plan to sue OCC over CRA rule

05/21/20

The National Community Reinvestment Coalition, California Reinvestment Coalition and Democracy Forward accuse the agency of “unlawfully gutting” the historic anti-redlining law.

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Brian Brooks will become acting comptroller of the currency

05/21/20

Joseph Otting will step down May 29 as head of the OCC and turn the reins over to Brooks, a former financial services industry executive who worked with Otting at OneWest.

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Where OCC bent and where it held firm in final CRA rule

05/20/20

The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen.

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