Search Results for agency_names:"Federal Deposit Insurance Corporation"

The Federal Deposit Insurance Corporation (FDIC) is seeking public comments on renewing two information collection requirements as part of its obligations under the Paperwork Reduction Act of 1995. The first collection relates to recordkeeping, disclosure, and reporting requirements in connection with Regulation Z, which involves the Truth in Lending Act. The second concerns account-based disclosures linked to Consumer Financial Protection Bureau Regulations E and DD and Federal Reserve Regulation CC, ensuring proper disclosure about electronic fund transfers and deposit accounts. The public has until April 27, 2021, to submit their comments, which will be considered a matter of public record.

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.

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) have finalized a rule concerning the treatment of certain debt investments by advanced banking organizations. The rule requires these organizations to deduct from their regulatory capital any investments in unsecured debt instruments issued by systemically important banks, known as GSIBs, to meet specific capacity requirements. This rule aims to reduce interconnectedness and systemic risks within the financial system and includes adjustments following public comments on the proposal. Additionally, the rule incorporates several technical amendments and new definitions to its regulatory framework.

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This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome.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) 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.

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.

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) has issued a final rule that updates its procedures for collecting debt. This amendment specifically allows for the collection of civil money penalties (CMPs) by including them in the scope of existing debt-collection regulations. The rule aligns with the Debt Collection Improvement Act of 1996 and aims to enhance FDIC's ability to recover debts by using existing Treasury procedures. Although the rule does not impose new requirements on insured institutions, it potentially increases the success rate of collecting delinquent CMPs.

The Federal Deposit Insurance Corporation (FDIC) has finalized a rule to remove certain regulations that were transferred from the Office of Thrift Supervision (OTS) to the FDIC in 2011 under the Dodd-Frank Act. These regulations mainly dealt with the supervision of State savings associations. The final rule, effective March 5, 2021, aims to simplify regulations by rescinding unnecessary ones and making technical changes so that State savings associations follow similar filing requirements as other FDIC-supervised institutions. The FDIC expects these changes to have minimal impact on the affected institutions.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to adjust the way deposit insurance assessments for large banks are calculated. This change is aimed at preventing the temporary double counting of certain credit loss amounts related to the Current Expected Credit Losses (CECL) methodology in these assessments. By doing so, the rule ensures that big banks are charged fairly and accurately for their deposit insurance. The final rule will take effect on April 1, 2021, and is not expected to affect small banks or change regulatory capital.