FDIC: Notice of Proposed Rulemaking to Revise FDIC Regulations Concerning Section 19 of the FDIA to Conform with the Fair Hiring in Banking Act
The Federal Deposit Insurance Corporation (FDIC) issued a proposal that would revise 12 C.F.R. part 303, subpart L, and part 308, subpart M, thereby updating the FDIC’s regulations concerning section 19 of the Federal Deposit Insurance Act to conform with the Fair Hiring in Banking Act (Act). On December 23, 2022, the James M. Inhofe…
FDIC: Agencies Issue Principles for Climate-Related Financial Risk Management for Large Financial Institutions
Federal bank regulatory agencies today jointly finalized principles that provide a high–level framework for the safe and sound management of exposures to climate–related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions,…
FDIC: Agencies Issue Final Rule to Strengthen and Modernize Community Reinvestment Act Regulations
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in low– and…
Federal Reserve: Agencies Issue Principles for Climate-Related Financial Risk Management for Large Financial Institutions
Federal bank regulatory agencies today jointly finalized principles that provide a high-level framework for the safe and sound management of exposures to climate-related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions,…
Federal Reserve: Agencies Issue Final Rule to Strengthen and Modernize Community Reinvestment Act Regulations
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in…
CFPB: Statement on the Final Rule Implementing the Community Reinvestment Act
Banks are not ordinary businesses. They are critical infrastructure of the economy. This is why we provide them with many public benefits, and in exchange, they have obligations to meet the “convenience and needs” of the communities they serve. The final rule is the product of compromise between the Federal Deposit Insurance Corporation, the Office…
OCC: Acting Comptroller Issues Statements on FDIC Board Meeting on CRA and Climate-Related Financial Risk Management
Acting Comptroller of the Currency Michael J. Hsu today issued statements at the Federal Deposit Insurance Corporation Board Meeting in support of rulemakings on the Community Reinvestment Act (CRA) and the finalization of interagency principles for climate-related financial risk management for large banks. In his remarks, Mr. Hsu discussed how modernizing and strengthening the CRA…
OCC: Agencies Issue Principle for Climate-Related Financial Risk Management for Large Financial Institutions
Federal bank regulatory agencies today jointly finalized principles that provide a high-level framework for the safe and sound management of exposures to climate-related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions,…
OCC: Agencies Issue Final Rule to Strengthen and Modernize the Community Reinvestment Act
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in…
CFPB: Proposed Rule Issued to Jumpstart Competition and Accelerate Shift to Open Banking
Personal Financial Data Rights rule would challenge industry to compete for customers, protect consumers from excessive surveillance, and help people walk away from bad service Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and…