Search Results for keywords:"Federal Deposit Insurance Corporation"

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Search Results: keywords:"Federal Deposit Insurance Corporation"

  • Type:Notice
    Citation:90 FR 9080
    Reading Time:less than a minute

    The Federal Deposit Insurance Corporation (FDIC) has announced its intent to terminate the receiverships for certain institutions, as their asset liquidation has been completed. The FDIC plans to make a final dividend payment to authorized creditors, as allowed by the funds available. The notice specifies that these receiverships will end at least 30 days following the announcement date. Interested parties have until this deadline to submit written comments regarding these terminations.

    Simple Explanation

    The FDIC plans to close down certain banks they took over because they sold everything they could. People who are owed money have 30 days to speak up if they have something to say about this.

  • Type:Notice
    Citation:86 FR 299
    Reading Time:about 4 minutes

    The Federal Deposit Insurance Corporation (FDIC) has announced updates to the maximum amounts for civil money penalties (CMPs) to account for inflation. These adjustments apply to penalties assessed after January 15, 2021, for violations occurring from November 2, 2015, onwards. Federal agencies, like the FDIC, are required to adjust these penalties annually based on guidance from the Office of Management and Budget (OMB). The updated CMP amounts were calculated using the inflation multiplier provided by the OMB in December 2020.

    Simple Explanation

    The FDIC is telling everyone that they have changed how much money someone has to pay if they break certain rules, to keep up with how prices go up over time. These changes start from January 15, 2021, and are based on special rules from the government to make sure penalties stay fair.

  • Type:Notice
    Citation:90 FR 13600
    Reading Time:about 3 minutes

    The Federal Deposit Insurance Corporation (FDIC) is seeking public comments as part of its obligation under the Paperwork Reduction Act of 1995. They are considering renewing two existing information collections: one related to the Bank Protection Act compliance and another involving Post-Examination Surveys for FDIC-supervised banks. The FDIC wants input on the necessity and efficiency of these collections and suggestions to enhance them or reduce the burden on respondents, with comments due by May 27, 2025.

    Simple Explanation

    The government agency called the FDIC is checking if they should continue two projects that help keep banks safe and gather feedback after checking banks. They want people to tell them if these projects are still useful and easy to do by the end of May 2025.

  • Type:Notice
    Citation:89 FR 101013
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The FDIC is asking people to share their thoughts through a survey to help them understand how much people know about deposit insurance, which is like a safety net for your money in the bank. They want to use this information to talk to people in a better way about keeping their money safe.

  • Type:Rule
    Citation:86 FR 9433
    Reading Time:about a minute or two

    The Federal Deposit Insurance Corporation (FDIC) has issued a correction to a previous regulation published on November 13, 2020, which deals with Branch Application Procedures. The regulation amendment aims to fix an error in the instructions concerning the establishment and relocation of branches and offices, specifically regarding statements about compliance with the National Historic Preservation Act of 1966 and the National Environmental Policy Act of 1969. As a result of this correction, certain paragraphs in the regulation are being removed and others are being renumbered. This correction became effective on February 16, 2021.

    Simple Explanation

    The FDIC found a mistake in some rules they made about how banks open new branches, so they fixed it to make sure everyone follows the right steps when looking after old and special places in the environment.

  • Type:Notice
    Citation:86 FR 6646
    Reading Time:about a minute or two

    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.

    Simple Explanation

    The FDIC, which helps make sure money in banks is safe, had a meeting online to talk about important rules. They had to do it quickly without much notice because of urgent reasons, and anyone could watch it online.

  • Type:Rule
    Citation:90 FR 11659
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The FDIC is giving banks more time to show special signs online and on ATMs that say their money is safe, moving the deadline from 2025 to 2026, because they want to make sure people aren't confused.

  • Type:Proposed Rule
    Citation:90 FR 12115
    Reading Time:about 3 minutes

    The Federal Deposit Insurance Corporation (FDIC) is withdrawing its proposed rules related to brokered deposit restrictions, corporate governance, and the Change in Bank Control Act. These proposals, published in 2023 and 2024, aimed to revise existing regulations but faced issues like being overly complex, conflicting with state laws, and potentially discouraging investments in banks. If the FDIC decides to take regulatory action on these matters in the future, it will announce new proposals.

    Simple Explanation

    The FDIC has decided not to continue with some new banking rules that might have been too confusing or made it hard for people to invest in banks; if they want to try again later, they'll come up with new ideas.

  • Type:Notice
    Citation:90 FR 11172
    Reading Time:about a minute or two

    The Federal Deposit Insurance Corporation (FDIC) plans to end the receivership for a certain financial institution, as they have finished selling off its assets. A final payment will be given to creditors, and the receivership will close at least 30 days after this notice. People who wish to comment on this decision can send written comments within 30 days to the FDIC's Receivership Oversight Section in Dallas, Texas.

    Simple Explanation

    The FDIC is like a helper group that takes care of banks when they have problems. They are telling everyone they are almost done helping a certain bank and will finish in about a month. If people want to say something about this, they can send a letter to the FDIC in Texas.

  • Type:Rule
    Citation:86 FR 8082
    Reading Time:about 43 minutes

    The FDIC has issued a final rule to simplify its regulations by rescinding outdated and redundant policies regarding nondiscrimination. It is removing a regulation known as "Nondiscrimination Requirements" and updating the "Fair Housing" regulation to also cover State savings associations. This change ensures all FDIC-supervised banks follow the same nondiscrimination rules, aligning with federal laws like the Equal Credit Opportunity Act and Fair Housing Act. The rule will take effect on March 5, 2021, with additional compliance deadlines set for February 3, 2022.

    Simple Explanation

    The FDIC is making some old rules about not being unfair disappear and changing the rules around fair housing so they apply to more banks, making sure everyone follows the same rules about treating people fairly when they want loans or a place to live.

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