FDIC

The agency said adequate reforms are in place after a 2024 investigation found pervasive sexual harassment, discrimination and misconduct at the regulatory agency.

An FDIC plan to help community banks evaluate potential fintech partners is valuable, as far as it goes. But it cannot account for the unique and specific risks that arise when two companies operate in partnership.

U.S. regulators have made it clear that banks have the discretion to explain account closures, short of disclosing the existence of a suspicious activity report filing. They should make it mandatory.

A pair of proposals issued by the Federal Deposit Insurance Corp. Thursday would create new merger processing timelines and extend national-bank preemption to certain out-of-state, state chartered bank activities.

Federal banking regulators say as many as 188 community banks may qualify for the extended exam cycle following implementation of the measure, which is required as part of the recently passed housing bill.

A new consortium of community banks plans to offer deposit insurance above the FDIC's $250,000 limit. But skeptics say such private-sector efforts have a spotty history.

Regulators issued a joint statement Wednesday clarifying that banks can discuss facts surrounding suspicious activity with customers so long as they do not disclose the existence of a suspicious activity report explicitly. 

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. Thursday finalized new rules directing examiners to focus on material financial risks and limiting supervisory lookbacks.

The Japanese automaker pulled its bid for an industrial lending arm following "an evaluation of the initiative's scope, timing and requirements" and a difficult fiscal year.

Consumers are confused about FDIC coverage for fintechs, placing the same amount of trust into nonbank payment companies that do not provide the same deposit protection.

Tioga-Franklin Savings Bank's failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.

The industrial bank charter is attracting increased interest because of the combination of innovation and safety it offers. However, charters should only go to companies that can meet a rigorous set of requirements.

The banking regulator is in early discussions with trade groups to build an organization for certifying tech providers that pass voluntary due diligence checks.

The agency will give qualified new-bank applicants a contingent authorization within 120 days of applying, with an additional year after that to organize the bank before final green light. 

Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.

The North Carolina-based bank plans to make additional monthly payments of $500 million-$1 billion to the Federal Deposit Insurance Corp., in order to reduce $35 billion of debt tied to its acquisition of the failed Silicon Valley Bank.

Banks must tell regulators of a serious breach within 36 hours under a codified rule. Regulators say they will tell banks 72 hours of their own data breaches, in a memo nobody can enforce.

The bank regulators say they will limit the sending and storage of highly sensitive supervisory information, including by using alternatives such as on-site reviews and requiring notifying banks of data compromises within 72 hours.

Joint guidance says borrowers unauthorized to work in the U.S. may present elevated credit risk and urges banks to account for immigration-related repayment uncertainty in underwriting. 

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. encouraged banks to heed Fincen guidance expanding the PATRIOT Act's safe harbor for voluntary information sharing between banks to combat fraud.