FDIC

Senior officials at the OCC, FDIC and Fed signaled they agree more than they disagree on a plan to modernize the Community Reinvestment Act.

The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

National Credit Union Administration regulations make it difficult for banks to buy credit unions, but one Texas bank may have found a partial way around that.

In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Under the plan, large banks would have to hold additional capital if they purchase another bank's "loss-absorbing" debt that is used to contain fallout from a collapse.

Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system.

Four lawmakers are calling on the White House to act quickly to appoint members to Democratic slots on the Federal Deposit Insurance Corp.'s board and on the Securities and Exchange Commission.

Current rules developed in the early 1990s were driven more by politics than facts.

The board of the Federal Deposit Insurance Corp. on Friday made several proposals meant to simplify post-crisis rules, prompting opposition from its most recent former chairman.

Two of three hires announced by the agency come from the Ohio bank, where the FDIC chairman formerly served as a top executive.

Robust public discussion from a diverse array of stakeholders has informed regulators working to reform the Community Reinvestment Act, but it has also included some misleading claims, writes a top OCC official.

The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”

The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.

PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.

If the United Kingdom leaves the EU without a deal, certain contracts held by U.S. entities and relocated outside the U.K. will not face new margin requirements.

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked.