Search Results for keywords:"banks"

Found 3 results

Search Results: keywords:"banks"

💰 Only
Oldest Newest
  • 2021-01544 — Sunshine Act Meeting; Notice of Meeting To Be Held With Less Than Seven Days Advance Notice
    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.

  • 2024-30652 — Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
    💰
    Type:Rule
    Citation:89 FR 105429
    Reading Time:about 10 minutes

    The Consumer Financial Protection Bureau (CFPB) has updated the asset-size exemption threshold for banks, savings associations, and credit unions under the Home Mortgage Disclosure Act (HMDA) to $58 million for 2025, based on an average 2.9% increase in the Consumer Price Index. This change means that institutions with assets of $58 million or less as of December 31, 2024, will not have to collect certain data in 2025. The amendment, which eliminates the need for public comment due to its technical and non-discretionary nature, will take effect on January 1, 2025.

    Simple Explanation

    The CFPB updated a rule to help small banks by raising a money limit, so banks with less than $58 million don't need to gather certain information next year. This change happened because prices have gone up, like when you need more allowance because toys cost more.

  • 2021-02782 — Notice of the FDIC's Response to Exception Requests Pursuant to Recordkeeping for Timely Deposit Insurance Determination
    Type:Notice
    Citation:86 FR 9068
    Reading Time:about 12 minutes

    The Federal Deposit Insurance Corporation (FDIC) granted temporary exceptions to certain banks from specific recordkeeping and information technology requirements. These exceptions are intended to help banks address challenges such as data cleanup, system updates, and assigning appropriate account codes needed to determine deposit insurance coverage quickly. These exceptions apply to various account types, including trust accounts and internal work-in-process accounts, and allow banks additional time to implement necessary changes. Banks must provide progress reports and ensure they can calculate deposit insurance accurately in case of failures, subject to ongoing FDIC review.

    Simple Explanation

    The FDIC told some banks they could have extra time to fix and tidy up their accounts so they can quickly figure out insurance for people's money if the bank has problems, but they have to tell the FDIC how they're doing on this task.