Search Results for keywords:"banking regulation"

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 Board of Governors of the Federal Reserve System has decided to extend the Domestic Branch Application (FR 4001) for another three years. This means that state member banks must continue to seek approval from the Federal Reserve before opening new branches, and they must notify the Federal Reserve by letter without using a specific form. The Board published a request for public comments on this extension and did not receive any feedback. The extension is happening without any changes to the current process.

The Federal Reserve System has announced that people listed in the notice have applied to gain control of shares in a bank or bank holding company under the Change in Bank Control Act. Interested individuals can review the public parts of the applications at the Federal Reserve Banks or through the Board's website. The public can also send their comments on these applications, but they should be aware that any information shared will be publicly disclosed. Comments on the applications should be submitted by March 27, 2025.