FDIC

McKernan, a member of the Federal Deposit Insurance Corp.'s board of directors, offered measured resistance to Biden-era bank regulation and led on a number of issues including cracking down on the influence of asset managers who hold stakes in FDIC-insured banks.

The finance arm of the Detroit automaker has resubmitted its application for an industrial loan company charter to the Federal Deposit Insurance Corp. after withdrawing its prior application last year.

A document circulated by the House Ways and Means Committee makes a number of suggestions for cutting federal spending, including revoking the federal tax exemption for credit unions and eliminating the Federal Deposit Insurance Corp.'s orderly liquidation authority.

The Federal Deposit Insurance Corp. Tuesday officially withdrew from an international regulatory body devoted to combatting climate-driven financial risks, following similar actions by other U.S. bank regulators. 

The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

In what is likely his final speech before resigning as chair of the Federal Deposit Insurance Corp., Martin Gruenberg warned that novel products and services heralded as "innovation" often lead to financial crises without appropriate attention to market and supervisory fundamentals.

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

In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.

A passivity agreement with the FDIC means that when the asset management giant Vanguard owns more than 10% of an FDIC-overseen bank, it can't seek certain levels of control over the bank's behavior.