Just as promised, Republican lawmakers went to work Wednesday considering regulatory reform ideas that would go further than the Senate's tweaks of the Dodd-Frank Act.
In an update on the Deposit Insurance Fund, FDIC staff said the fund's ratio of reserves to estimated deposits will likely reach the required 1.35% level by the second half of 2018.
The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.
Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.
Federal Deposit Insurance Corp. Chairman Martin Gruenberg said Tuesday that he is on the fence about whether to serve on the agency's board for the remainder of the year even after he is replaced as head of the agency.
The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.
The quarterly earnings decline from a year earlier was largely due to a one-time hit to the value of banks’ deferred tax assets, according to the agency’s Quarterly Banking Profile.
A decision by the Federal Deposit Insurance Corp. — soon to be under new management — on Square’s ILC application could foreshadow how other fintech firms seek banking powers.
