FDIC

A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the agency's preparedness for large bank failures.

President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.

These regulatory announcements in the banking industry are currently open to public comment.

Reps. Andy Barr, R-Ky., and French Hill, R-Ark., leading Republicans on the House Financial Services Committee, pushed back against Federal Deposit Insurance Corp. Chair Martin Gruenberg's characterization of the Synapse collapse in his July brokered deposits proposal.

Gruenberg, the Federal Deposit Insurance Corp.'s longest-serving board member, will step down in January, marking the end of an era after nearly 20 years on the agency's board of directors.

The next Republican-led FDIC board will inherit a legacy of sexual misconduct and low morale brought to light last year. Despite the breadth of that challenge, industry watchers believe the agency's new leadership can deliver meaningful change.

The agency had been on the verge of downgrading Philadelphia-based Republic First Bancorp's CAMELS rating to the lowest level but opted for a less severe remedy after a November 2020 visit.

Industry groups and consumer advocates are joining forces in support of  proposed regulatory changes.

Europe's top finance ministers are questioning the U.S.'s commitment to the global capital standards. The mistrust could have consequences for international regulatory efforts.

Banks now have until Nov. 21 to provide feedback on the FDIC's proposed rule on brokered deposits that could lead to higher costs for some insured depositories.