FDIC

The regulators issued a joint statement Friday morning reaffirming their commitment to the international regulatory framework, but it remains to be seen if they will do so by the Basel Committee's January deadline.

A Government Accountability Office report found that regulators scaled back supervisory examinations during the pandemic in part because of banks' technological shortcomings.

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."

Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Banks and consumers can be harmed when cryptocurrency companies that offer digital assets as well as banks’ deposit products overstate the protections of federal deposit insurance, the agency says.

The Federal Reserve and Federal Deposit Insurance Corp. said the crypto firm’s response doesn’t “preclude us from taking any further action.”