Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Helene
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricane Helene on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject…
FDIC: Results of Summary of Deposit 2024 Annual Survey Released
The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2024. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 76,000 domestic offices operated by more than 4,500 FDIC-insured commercial and savings banks, savings…
FDIC: Board of Directors Approve Final Statement of Policy on Bank Merger Transactions
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final Statement of Policy on Bank Merger Transactions (Final SOP). The Final SOP addresses the scope of transactions subject to FDIC approval, the FDIC’s process for evaluating merger applications, and the principles that guide the FDIC’s consideration of the applicable statutory factors as…
Agencies Extend Comment Period on Request for Information on Bank-Fintech Arrangements
The federal bank regulatory agencies announced today that they will extend until October 30, 2024, the comment period on a request for information on bank-fintech arrangements involving banking products and services. The agencies are seeking input on the nature and implications of bank-fintech arrangements and effective risk management practices. Extending the comment period will allow…
FDIC: CRA Examination Schedules for Fourth Quarter 2024 and First Quarter 2025 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter 2024 and first quarter 2025. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. …
Joint Rulemaking Issued on Financial Data Transparency Act Data Standards
Today, the Federal Housing Finance Agency (FHFA) joined eight other agencies to announce that it is seeking comment on a proposed rule to establish data standards for certain information collected by financial regulatory agencies. FHFA joins the Office of the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the National…
FDIC: Board Approves Revisions to Section 19 Regulations to Conform to the Fair Hiring in Banking Act
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved revisions to regulations under Section 19 of the Federal Deposit Insurance (FDI) Act to conform to the Fair Hiring in Banking Act (FHBA), which became effective on December 23, 2022. “I strongly support these changes which would expand employment opportunities in the banking industry,…
FDIC: Board Approves Proposed Rule to Amend Change in Bank Control Act Regulations
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a Notice of Proposed Rulemaking to amend the agency’s regulations under the Change in Bank Control Act. The proposed rule would require the provision of advance notice to the FDIC for certain acquisitions of voting securities of FDIC-supervised institutions, at a level sufficient to trigger…