Search Results for agency_names:"Federal Deposit Insurance Corporation"

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) is proposing to rescind its 2024 Statement of Policy on Bank Merger Transactions and return to its previous policy. The change comes after concerns that the 2024 policy created uncertainty and confusion around the merger process for banks. The FDIC is seeking public comments on this proposal by April 10, 2025. They plan to review all aspects of their merger policy in the future and request additional comments at that time.

The Federal Deposit Insurance Corporation (FDIC) is planning to end the receivership for a certain institution, which means it will no longer oversee its liquidation process. The FDIC has completed the sale of the institution's assets and will distribute the final payments to creditors using the remaining funds. Affected parties have 30 days from the notice date to submit written comments about the termination. This decision is made under the authority provided by U.S. law and aims to conclude the receivership now that it no longer serves a useful purpose.

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.

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) 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.

The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule to simplify its regulations by removing outdated and unnecessary ones. This proposed rule focuses on eliminating certain definitions transferred from the Office of Thrift Supervision (OTS) that are no longer applicable because related regulations are being removed. The change would primarily affect a small number of state savings associations supervised by the FDIC and is not expected to have a significant impact on these institutions or the larger economy. The FDIC invites public comments on the proposed rule and its potential effects.

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) has announced the updated maximum civil money penalties, adjusted for inflation, applicable from January 15, 2025. These adjustments are guided by the Federal Civil Penalties Inflation Adjustment Act, which requires federal agencies to annually revise penalty amounts based on an inflation multiplier provided by the Office of Management and Budget. The penalties apply to violations occurring on or after November 2, 2015.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to revise its regulations regarding brokered deposits and interest rate restrictions for less than well-capitalized banks. For brokered deposits, the rule creates a new framework to determine what qualifies as a "deposit broker," including an evaluation of what it means to "facilitate," and introduces several designated exceptions that qualify for this exception without requiring an application. For interest rate restrictions, the FDIC has updated how it calculates the national and local rate caps that less than well-capitalized banks can offer on deposits, aiming to ensure these caps more accurately reflect market conditions. The rule aims to provide clarity to banks while still promoting safety and soundness in their operations.