News Topic: Jelena McWilliams

After two regulatory agencies adopted final revisions to the rule, Dodd-Frank defenders expressed concern that the amendments to the proprietary trading ban undermined the post-crisis statute. ... Read full article

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology. ... Read full article

The FDIC chief said it is critical to give the industry clarity on using emerging technologies, particularly for the thousands of community banks her agency oversees. ... Read full article

Jelena McWilliams said federal bank regulators have made progress in developing a proposal but acknowledged that the reform process has been slow. ... Read full article

Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change. ... Read full article

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits. ... Read full article

The FDIC's new complex institution supervision and resolution division will be operational July 21. ... Read full article

The number of minority depository institution charters is declining even as their financial performance is going up, according to a new study by the FDIC. ... Read full article

The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal. ... Read full article

More than 66% of the banks reported a jump in net income during the first quarter but new risks are emerging in interest rates and underwriting, the Federal Deposit Insurance Corp. said Wednesday. ... Read full article

Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act. ... Read full article

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard. ... Read full article

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks. ... Read full article

The chairwoman of the House Financial Services Committee said the panel will be holding its own public hearings on the proposed merger. ... Read full article

Chief Financial Officer Steve App will be succeeded by Bret Edwards, who is now head of the FDIC's division of resolutions and receiverships. ... Read full article

FDIC Chairman Jelena McWilliams revealed an effort by the banking agencies to gain better clarity on how authorities use the huge amounts of suspicious activity reports that banks must submit under anti-money-laundering laws. ... Read full article

In separate letters to President Trump and the head of the FDIC, the Senate Democrat said the merger cannot be approved until all five seats of the agency's board of directors are filled. ... Read full article

Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S. ... Read full article