Jelena McWilliams

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

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

Community bankers and state regulators want the FDIC and other agencies to rethink their approach to a simplified capital ratio for smaller institutions.

Comptroller of the Currency Joseph Otting and Federal Deposit Insurance Corp. Chairman Jelena McWilliams acknowledged industry concerns with the proposal meant to improve how banks comply with the trading ban.

A legal memo conducted on behalf of the trade group says the agency’s policy goes beyond statutory intent and places undue restrictions on healthy banks.

The agency’s effort is a good first step to updating brokered deposit rules, but regulators excluded several important considerations in their advance notice of proposed rulemaking.

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena McWilliams, will follow it.

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.

The agency began seeking comments in December through a "request for information" on how to improve the agency's process for considering new deposit insurance applications.

The lawmakers said the lack of someone with a state supervisory background among the agency's three inside board seats violates federal law.