A recent Senate Banking Committee hearing featured testimony from the FDIC, NCUA, OCC, and Federal Reserve, discussing protection of the nation’s banking and credit union system, and how to ensure the system equally serves all.
Read More »FDIC Takes Over Fifth U.S. Bank of 2023
Due to financial instability, Sac City, Iowa-based Citizens Bank has been placed in receivership by the FDIC, marking the fifth U.S. bank failure reported this year.
Read More »Agencies Issue Final Rule to Modernize the Community Reinvestment Act
Building on feedback from stakeholders and research, three federal agencies have issued updates to the 50-plus-year-old Community Reinvestment Act to strengthen and modernize its regulations to better achieve the purposes of the law.
Read More »Feds Prep Large Financial Institutions to Brace for Climate-Related Risk
The OCC, FDIC, and Federal Reserve have outlined a framework for the safe and sound management of exposure to climate-related financial risks for large financial institutions. Here’s what that means for the industry.
Read More »Survey: Banks Prioritize Compliance When Vetting Fintech Partners
As financial institutions evaluate their tech budgets, experts say concern about data security takes a front seat, as fintech firms must prioritize risk and compliance in today's marketplace.
Read More »Banking Regulators Seek Comment on Rules to Strengthen Capital Requirements
The OCC, Treasury Department, Federal Reserve, and FDIC have jointly issued a proposal to modify large bank capital requirements to better reflect underlying risks, and increase the consistency of how banks measure their risks.
Read More »Capitol Hill Examines Volatile Weather Events and Financial Risk
During a recent House Financial Services Subcommittee on Financial Institutions and Monetary Policy meeting, Greg Coleman of the Office of the Comptroller of the Currency noted that “the OCC’s role is to ensure that national banks and federal savings associations understand their climate-related financial risks and develop comprehensive risk management frameworks and capabilities to identify, measure, monitor and control those risks.”
Read More »OCC Measures Key Risks Impacting the Banking System
After closely monitoring the condition of the institutions it supervises throughout the market stress this spring, a new report from the OCC examines how financial institutions have managed risk and restored confidence in the banking system in Q1.
Read More »The Week Ahead: Examining the Anatomy of a Banking Failure
The FHFA will host a hybrid hearing of the Appraisal Subcommittee exploring the appraisal regulatory system focusing on appraisal standards, appraiser qualification criteria, and barriers to entry into the profession.
Read More »First Citizens Reaches Agreement With FDIC to Acquire SVB
FDIC turns ownership of Silicon Valley Bridge Bank over to First Citizens Bank & Trust Company in a deal that includes the purchase of approximately $72 billion of Silicon Valley Bridge Bank’s assets at a discount of $16.5 billion.
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