Federal regulatory agencies frequently seek feedback from
industry stakeholders by forming advisory committees and advertising for
comments on rulemaking activities. The Federal Deposit Insurance Corp. (FDIC)
recently added representatives from multiple institutions to its advisory committee
on community banking, including banks also tapped to serve on its subcommittee
on minority depository institutions (MDIs).
Learn about these developments and more in this regulatory
roundup:
CFPB report on medical debt
New report findings released
by the Consumer Financial Protection Bureau (CFPB) indicate that, despite
actions taken by the country’s three national credit reporting companies,
credit reports for approximately 15 million Americans still include medical
bills. A disproportionate amount of these Americans live in the South and in
low-income communities and have a combined total of $49 billion in outstanding
medical bills in collections, the report states. This is the bureau’s second analysis
of the companies’ efforts to reduce the number of medical bills on credit
reports. The CFPB noted that it is considering rulemaking that
would restrict the reporting of allegedly unpaid medical bills on credit
reports.
FDIC
names community bank advisory committee members
The FDIC recently added five new members to its advisory committee
on community banking, representing a cross-section of community bankers throughout
the country. The committee offers input on various community bank policy and
regulatory matters. The new members are:
·
Marlene Barkheimer, CEO, Farmers State Bank,
West Salem, Ohio
·
Heidi Brown, executive vice president, Citizens
State Bank, Sheldon, Iowa
·
Carolyn Crockett, president and chief credit
officer, First Security Bank of Nevada, Las Vegas, Nev.
·
Lloyd DeVaux, CEO, Sunstate Bank, Miami, Fla.
·
Norman Plumstead, president and CEO, Honor Bank,
Honor, Mich.
The committee’s May 2 meeting agenda includes a discussion
of banking conditions and updates from the FDIC chief of staff on the financial
institution diversity self-assessment, the MDI subcommittee, and various
supervision and policy matters. Learn more and see the complete list of
committee members here.
Four banks named to MDI subcommittee
Four new banks have been added to the FDIC’s MDI subcommittee
and will be represented on the agency’s advisory committee on community banking.
The MDI subcommittee informs the agency’s strategies for fulfilling its statutory
goals and provides a platform for MDIs to collaborate, build partnerships and
showcase MDIs’ efforts to serve their communities. The new members are:
·
John Tom Anderson, president and CEO, F&M
Bank, Edmond, Okla.
·
John Lewis, president and CEO, The Harbor Bank
of Maryland, Baltimore
·
Alfonso Macedo, president and CEO, Ocean Bank,
Miami
·
Arturo (Art) Ortega, chairman and CEO, Freedom
Bank, Alamo, Texas
The MDI subcommittee’s May 1 meeting agenda included the sharing
of insights into key challenges and opportunities facing minority financial
institutions and the communities they serve, as well as a spotlight on an
innovative partnership that is improving healthcare access in a Native American
community. Learn more and see the full list of subcommittee members here.
FDIC publishes March enforcement actions
Eleven administrative enforcement actions were issued by the
FDIC in March, the details of which are now available on the agency’s website. These
actions include one prohibition order, one combined prohibition order and an order
voluntarily dismissing notice of assessment and order to pay a civil money
penalty, two consent orders, two orders to pay CMPs, and five orders
terminating deposit insurance. Learn more here.