All FDIC articles – Page 5

  • 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.

  • Blog

    FDIC Refreshes Guidance on High-Risk Customers


    Gun merchants, strippers, and payday lenders rejoice! The Federal Deposit Insurance Corp. has signaled an end to its effort to restrict industries deemed as “high risk” from banking access. The FDIC tells banks to take a risk-based approach in assessing individual “customers, rather than declining to provide banking services to ...

  • Blog

    FDIC Posts New Requirements for Bank Resolution Plans


    The Federal Deposit Insurance Corporation has issued new guidance and requirements for the resolution plans federally insured banks with more than $50 billion in assets must submit. The guidance, which applies to 2015 submissions, provides direction regarding what must be discussed in a fully developed resolution strategy and an accompanying ...