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Posted Date: Tuesday, March 26, 2024
Federal banking agencies have extended the implementation period for certain provisions of their modernized Community Reinvestment Act (CRA) rules. Covered entities will have until Jan. 1, 2026, to align their CRA compliance policies and procedures with the revised rules, which had an original applicability date of April 1 of this year. Read on »
Posted Date: Friday, March 22, 2024
The Federal Deposit Insurance Corp. (FDIC) announced it is considering revising its policy statement on bank mergers to be stronger and clearer in response to ongoing consolidation within the financial system.
The FDIC noted that the revised statement of policy is principles-based and reflects legislative and other developments that have occurred since it was last amended in 2008. Read on »
Posted Date: Friday, March 15, 2024
House Republicans celebrated the passage of H.R. 2799, which aims to facilitate capital formation by strengthening public markets, helping small businesses and entrepreneurs and creating new investment opportunities. The bill passed via a 212-205 vote along party lines. Read on »
Posted Date: Tuesday, March 12, 2024
The American Bankers Association issued a white paper titled, “Effective agency guidance: Examining bank regulators guidance practices,” where it voiced its and other trade association’s concern over agency use of guidance “to advance regulatory policy agendas.” Industry experts shared their takeaways from the report.
ABA President Rob Nichols referenced the white paper, along with copies of recent comment letters, in a letter to the federal financial regulators requesting their consideration of the feedback. Richard Andreano of Ballard Spahr, Loretta Salzano of Franzén and Salzano, and Mike Silver of Husch Blackwell, LLP spoke about their takeaways from the report. Read on »
Posted Date: Tuesday, March 12, 2024
Between merging banks and merging credit scoring models, financial regulators still have to find time to conduct examinations and rulemaking activities. Here are a few synopses of activities and announcements that recently came out of the Federal Housing Finance Agency, Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency. Read on »
Posted Date: Tuesday, March 5, 2024
From procedural rule updates to assisting institutions hit by natural disasters, federal regulators undertake a wide scope of activities that do not often make for major news headlines but are impactful nonetheless. Read on »
Posted Date: Friday, March 1, 2024
Federal banking regulators released their 2023 Shared National Credit (SNC) report assessing credit quality and risk factors associated with large, syndicated bank loans as “moderate” despite some downward trends attributed to high interest rates. The SNC program assesses risk among the largest and most complex credit facilities shared by regulated financial institutions and nonbank investors. Read on »
Posted Date: Tuesday, February 20, 2024
More than seven years after fining Wells Fargo $100 million for illegal sales practices, the Office of the Comptroller of the Currency terminated the consent order it issued against the bank in September 2016. More than 3 million unauthorized customer accounts were discovered by federal investigators, including several uncovered long after the initial order. Read on »
Posted Date: Tuesday, February 13, 2024
The Federal Financial Institutions Examination Council released principles intended to help member entities determine whether a supervised institution’s residential property valuation practices are adequate for identifying and mitigating discrimination or bias. Read on »
Posted Date: Tuesday, February 13, 2024
From appraisal bias to redressing consumers harmed by a tech support scam, federal regulators have remained busy in recent weeks. Find out details about these topics and more in this week’s regulatory roundup. Read on »
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