All FDIC articles – Page 4

  • Blog

    Thomas Hoenig departs FDIC


    April 30 was the last day of service for Thomas Hoenig as vice chairman and a member of the board of directors of the Federal Deposit Insurance Corporation. Hoenig joined the board in April 2012 and served a full six-year term.

  • Blog

    Banking regulators propose new capital rules under CECL


    Banking regulators are proposing changes to regulatory capital requirements to address forward-looking credit losses under a new accounting standard.

  • Blog

    Outgoing FDIC official shares blunt view of ‘Too Big to Fail’ and bank regulation


    As part of his farewell tour, Thomas Hoenig, the departing vice chairman of the Federal Deposit Insurance Corporation, used a recent speech to candidly address the challenge of balancing prudential standards and regulatory initiatives when attempting to end big bank bailouts.

  • Article

    FDIC recordkeeping rule poses a big bank data challenge


    To get a better grip on resolution planning, the FDIC wants banks to do a better job keeping track of deposit data.

  • Article

    Recent findings raise fresh questions over auditors and fraud


    Recent findings against PwC illuminate audit failures that the PCAOB has been harping on for years, although its ultimate weight on auditors' duty to find fraud is not yet clear.

  • Blog

    Ruling against PwC may portend greater auditor scrutiny


    A court ruling in a lawsuit brought by the Federal Deposit Insurance Corporation against PwC for its failure to detect a multibillion-dollar fraud may well portend greater skepticism and scrutiny by auditors when looking at FCPA issues.

  • Blog

    Agencies announce postitive results for living wills


    The Federal Deposit Insurance Corporation and the Federal Reserve Board have released resolution plans for the eight largest and "most complex" domestic banks. In a signal of progress, none were found to have severe deficiencies.

  • Blog

    Hurricane Harvey spurs regulatory relief, assistance for banks


    Federal and state bank regulators have issued guidance for institutions in Texas suffering from the devastating effects of Hurricane Harvey. The advisory addresses temporary branches, loan modifications, and leniency regarding regulatory obligations and compliance deadlines.

  • Article

    Operation Choke Point finally suffocated by Justice Department


    A controversial government initiative that pushed banks to de-risk themselves from a variety of legal business is now a thing of the past. Or is it?

  • Blog

    New FDIC recordkeeping rule focuses on big bank failures


    A new rule finalized by the FDIC creates new recordkeeping requirements for banks with a large number of deposit accounts. It is intended  to facilitate customer restitution if those institutions fail.

  • Blog

    Deadline extended for foreign bank resolution plans


    The Federal Reserve Board and the Federal Deposit Insurance Corporation have granted four foreign banking organizations additional time to submit their next resolution plans. Previously, Barclays, Credit Suisse Group, Deutsche Bank AG, and UBS were required to submit their next plans on July 1, 2016, a deadline now bumped up ...

  • Blog

    Proposed rule extends big bank liquidity demands


    A busy day for bank regulators on Tuesday led to proposed rules dealing with new liquidity requirements, incentive-based compensation, and how small banks are assessed for deposit insurance. Joe Mont reports.

  • GlassesReportCard

    Banks get report cards, to-do demands for their ‘living wills’


    The Federal Deposit Insurance Corporation and the Federal Reserve Board have released firm-specific report cards on the 2015 resolution plans of eight systemically important, domestic banks. The determinations were made public on Wednesday, one day after a report by the Government Accountability Office called for greater transparency in how their ...

  • Blog

    Big banks could face new recordkeeping requirements


    The Federal Deposit Insurance Corporation has proposed new recordkeeping requirements for federally-insured institutions with more than 2 million customer accounts. The move is intended to facilitate rapid payment of deposits to customers if the institutions were to fail. Banks would be required to ensure that their information technology systems are ...

  • Article

    As Compliance Risks Keep Rising, Banks Keep Rethinking


    A sea change in risk is happening at big banks: Non-financial risks (read: regulatory compliance failures) are now driving the compliance conversation at large firms more than financial risks. “You can have adequate capital, adequate liquidity; but if you have the wrong kind of culture, that is where the problems ...

  • Blog

    Regulators Boost Swap Collateral Demands, Cut End-Users a Break


    Banking regulators have approved a final rule that establishes new collateral demands for swaps that are not cleared through a clearinghouse. The FDIC projects that the new requirement will add roughly a 30 percent premium to traditional swap margin requirements. A related interim final rule exempts swaps with a financial ...

  • Blog

    FDIC Hits Comenity Banks Over Deceptive Credit Card Add-Ons


    The FDIC has settled with Delaware-based Comenity Bank and Comenity Capital Bank of Salt Lake City for deceptive practices relating to the marketing of credit card add-on products. Comenity Bank will pay a civil money penalty of $2 million and provide $53 million in restitution to harmed consumers. ...

  • Blog

    FDIC’s Hoenig Pitches Framework for Regulatory Relief


    Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corporation, wants to see the regulatory burden for “traditional” banks eased, regardless of their asset size. Speaking on this week about a Congressional demand to identify outdated and unduly burdensome regulations he recommended that a bank be eligible for regulatory relief ...

  • Blog

    Banamex USA Fined $140M for AML Violations


    The Federal Deposit Insurance Corporation today imposed a civil penalty of $140 million against Banamex USA for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. The FDIC imposed the penalty on the same day that Citigroup, which purchased Mexico-based Banamex in 2001, said it would be ...

  • Blog

    FDIC Mulls New Recordkeeping Requirements for Big Banks


    The Federal Deposit Insurance Corp. is considering new recordkeeping requirements for the nation’s largest banks to streamline the process for reimbursing insured depositors should one of them fail. New recordkeeping standards would likely apply to banks with more than $2 million in account value. Details inside.