FDIC

Federal banking agencies have a standing record of offering guidance to entities in areas affected by natural disasters. This regulatory roundup includes details about how banks and credit unions affected by recent flooding in Texas can access these materials, as well as other information. Read on »

The federal bank regulatory agencies issued a request for information on a proposal to modify certain regulatory capital standards to encourage banking organizations to engage in lower-risk activities and help U.S. Treasury markets run more smoothly. Read on »

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, S. 1582, passed 68-30 in the Senate with bipartisan support for its aim of establishing a federal regulatory framework for U.S. dollar-backed stablecoins. Read on »

The Federal Deposit Insurance Corp. released the results of its quarterly banking profile, summarizing financial data collected from 4,462 insured commercial banks and savings institutions for the first quarter. Read on »

Following the withdrawal of the long-awaited 2023 final rule revising Community Reinvestment Act (CRA) standards, banks will experience no change in effective CRA standards. Meanwhile, some states are working on tightening their own regulations meant to root out discrimination, which could make things interesting for some financial institutions. Read on »

The House Financial Services Committee held a hearing to explore how the current regulatory regime governing bank mergers and new (de novo) bank formation impacts the financial sector. Lawmakers and witnesses discussed potential regulatory reforms aimed at fostering competition and ensuring widespread access to financial services. Read on »

The Senate voted along party lines to approve a resolution overturning a final rule updating the process banking regulators use when reviewing proposed bank mergers and acquisitions. Read on »

As financial technology and digital assets remain ever-growing factors in the financial services industry, trade organizations continue to increase efforts to advocate for new policies to help their members remain competitive. Read about some of the latest developments with respect to this topic and more in this roundup. Read on »

Several members of the Senate Banking Committee pressed Federal Deposit Insurance Corp. acting director Travis Hill about the potential impact of cuts to the banking regulator’s staff on financial stability, as well as the agency’s decision to allow the Department of Government Efficiency access to sensitive consumer information. Read on »

The Federal Deposit Insurance Corp. ordered Discover Bank of Greenwood, Del., to distribute at least $1.225 billion to merchants adversely affected by the bank’s misclassification of millions of consumer credit cards as commercial. The bank’s parent holding company, Discover Financial Services, was fined $100 million in a concurrent order. Read on »