Search Results for keywords:"FDIC"

The Federal Deposit Insurance Corporation (FDIC) held a Board of Directors meeting via video conference on January 19, 2021. The meeting covered several topics, including discussions on the final rule regarding supervisory guidance, and proposed rules on various regulations affecting state savings associations and banks. The Board decided to hold the meeting with less than seven days' notice due to urgent business needs. The meeting was open to the public and was webcast online.

The Federal Deposit Insurance Corporation (FDIC) is inviting public comments on their request to approve a new version of the "Survey of Household Use of Banking and Financial Services." This survey, conducted with the U.S. Census Bureau, collects data on how U.S. households use banking and financial services, including those from nonbank sources. It aims to inform policymakers and help bring unbanked households into the traditional financial system. Comments must be submitted by March 19, 2021, to assist in minimizing the burden of data collection and improving the survey's quality and utility.

The Federal Deposit Insurance Corporation (FDIC) is updating its rules of practice and procedure to clarify that certain roles within the agency, previously performed by the Executive Secretary, will now be carried out by appointed Administrative Officers. This change aligns with the longstanding practice of appointing Administrative Law Judges as inferior officers. The update also includes technical revisions to outdated job titles within the FDIC, and these changes do not significantly affect the public or non-agency individuals. The final rule took effect on January 12, 2021, without the need for public comment as it pertains to internal agency procedures.

The Federal Deposit Insurance Corporation (FDIC) is delaying the full compliance deadline for certain new requirements on how insured banks display membership signs and ads, especially on digital platforms like ATMs and websites. Originally, banks had until May 1, 2025, to comply with these updates, but now they have until March 1, 2026. This delay allows the FDIC time to review feedback on potential issues with implementing these requirements, aiming to prevent consumer confusion. The FDIC plans to propose updates to the rules based on this feedback.

The Federal Deposit Insurance Corporation (FDIC) has announced that it is granting temporary relief to certain financial institutions. These institutions, which manage mortgage servicing accounts, are being given until March 31, 2022, to meet specific technology and recordkeeping requirements necessary for calculating deposit insurance. This relief period is intended to allow these institutions more time to improve their systems and processing capabilities. The FDIC will continue to monitor the situation and may change or withdraw the relief if needed.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively known as "the agencies") are reviewing regulations affecting insured depository institutions. This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome. The agencies are seeking public comments on specific categories of regulations, including Rules of Procedure, Safety and Soundness, and Securities, in hopes of reducing the regulatory impact, especially on community banks. Public comments are invited until March 11, 2025, and the agencies will use these to help decide if any regulations should be adjusted or removed.

The Federal Deposit Insurance Corporation (FDIC) has completed the process of winding up the affairs of a particular insured depository institution and has liquidated all related assets. The FDIC, acting as the Receiver, has also authorized FDIC-Corporate to handle any necessary paperwork. As of the termination date, the Receivership is officially closed, meaning the Receiver's duties are complete and it no longer exists as a legal entity.

The Federal Deposit Insurance Corporation (FDIC) is inviting comments from the public and federal agencies on a proposed information collection related to deposit insurance awareness. This initiative is part of the FDIC's responsibilities under the Paperwork Reduction Act of 1995. They will conduct a survey to evaluate public awareness and understanding of deposit insurance and its effects on financial decisions. The survey aims to gather input that will help enhance the FDIC's communication, education, and outreach efforts, ensuring the financial system's stability and public confidence.

The Federal Deposit Insurance Corporation (FDIC) is proposing changes to its regulations concerning securities offerings by State savings associations and State nonmember banks. The FDIC plans to streamline regulations by removing outdated rules transferred from the Office of Thrift Supervision and creating a new unified regulation for securities disclosures. This new rule aims to simplify and align requirements with current securities laws, ensuring both State savings associations and State nonmember banks are subject to the same rules. The proposed rule also includes technical amendments and invites public comments on these changes until April 5, 2021.

The Federal Deposit Insurance Corporation (FDIC) announced its plan to end the receivership of an institution, as the process of liquidating its assets is complete. The FDIC will make a final payment to verified creditors using the available funds. The receivership's termination is set to occur no less than 30 days from the notice's release date. Individuals wishing to comment on this decision must submit their remarks in writing to the FDIC within the 30-day window.