Search Results for agency_names:"Federal Deposit Insurance Corporation"

The Federal Deposit Insurance Corporation (FDIC) is asking the public and other federal agencies to comment on the renewal of certain information collections as part of their responsibilities under the Paperwork Reduction Act of 1995. These collections include the process for State savings banks to convert to stock form, notification procedures for unauthorized access to customer information, and guidelines for ensuring the accuracy of information provided to consumer reporting agencies. Comments can be submitted by email, mail, or hand delivery until May 5, 2025, and will help the FDIC manage these processes more effectively.

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 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 The update also includes technical revisions to outdated job titles within the FDIC, and these changes do not significantly affect the public or non-agency individuals.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) announced a meeting of its Advisory Committee of State Regulators, which will take place on March 18, 2021. The meeting aims to discuss policies affecting state-chartered financial institutions across the U.S. Due to COVID-19 precautions, the public can attend the meeting online via a live webcast, and a recorded version will be available two weeks later. Individuals needing accommodations to participate can contact the FDIC in advance.

The Federal Deposit Insurance Corporation (FDIC) has published a notice requesting public comments on the renewal of several information collections related to its operations. These collections involve various forms required from businesses and banks that work with the FDIC, such as contractors and government securities brokers. The document lays out the burden estimates and describes the types of data collected, ensuring they comply with laws like the Paperwork Reduction Act. Interested parties have until April 24, 2025, to submit their feedback, which will be considered part of the public record.

The Federal Deposit Insurance Corporation (FDIC) is inviting public comment on renewing three information collections as part of its Paperwork Reduction Act obligations. These include applications for banks seeking trust powers, assessments of diversity policies, and notifications of computer security incidents. The comment period is open until February 21, 2025, and feedback can be submitted via the FDIC website, email, mail, or hand delivery. The FDIC seeks input on the necessity, accuracy, and ways to reduce the burden of these information collections.

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.

The Federal Deposit Insurance Corporation (FDIC) is seeking public comments on the renewal of an information collection called the National Survey of Unbanked and Underbanked Households. This survey aims to understand how many U.S. households do not use traditional banking services and the reasons why. It's part of the FDIC's efforts to help more people access safe and affordable banking options. Interested parties can submit their comments by February 12, 2025, through various channels like email or the FDIC website.

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.