Industry News

PRESS RELEASE | APRIL 16, 2024 PRINCIPALS OF U.S., EUROPEAN BANKING UNION, AND U.K. FINANCIAL AUTHORITIES MEET FOR REGULAR COORDINATION EXERCISE ON CROSS-BORDER RESOLUTION PLANNING WASHINGTON The heads of resolution, regulatory and supervisory authorities, central banks, and finance ministries of the United States, the United Kingdom, and the European Banking Union are among leaders participating...

PRESS RELEASE | APRIL 10, 2024 FDIC Releases Comprehensive Report on Orderly Resolution of Global Systemically Important Banks WASHINGTON The Federal Deposit Insurance Corporation (FDIC) today released a comprehensive report on how the FDIC would manage the orderly resolution of a large, complex financial company under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dod...

EVENT FDIC Chairman to Address Too Big to Fail and the Orderly Resolution of a Global Banking Organization at the Peterson Institute of International Economics Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg returns to the Peterson Institute for International Economics (PIIE) on Wednesday, April 10, 2024, to present a comprehensive update of how the FDIC has prepared for...

PRESS RELEASE | APRIL 3, 2024 FDIC ISSUES LIST OF BANKS EXAMINED FOR CRA COMPLIANCE WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in January 2024. The CRA is a 1977 law intended to enco...

PRESS RELEASE | APRIL 1, 2024 FDIC Appoints E. Marshall Gentry as Deputy to the Chairman and Chief Financial Officer WASHINGTON The Federal Deposit Insurance Corporation (FDIC) Board of Directors has approved the selection of E. Marshall Gentry as Deputy to the Chairman and Chief Financial Officer (CFO). Mr. Gentry succeeds Bret D. Edwards, who retired in February. Marshall brings an exceptional ...

EVENT FDIC Chairman to Address Too Big to Fail and the Orderly Resolution of a Global Banking Organization at the Peterson Institute of International Economics Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg returns to the Peterson Institute for International Economics (PIIE) on Wednesday, April 10, 2024, to present a comprehensive update of how the FDIC has prepared for...

PRESS RELEASE | MARCH 29, 2024 FDIC Makes Public February Enforcement Actions; No Administrative Hearings Schedules for April 2024 WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February 2024. There are no administrative hearings scheduled for April 2024. The FDIC issued six...

PRESS RELEASE | MARCH 22, 2024 FDIC Special Committee of the Board of Directors Appoints Three Non-Voting Member WASHINGTON The Special Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors appointed three non-voting members in its efforts to oversee an independent, third-party review of the agencys workplace culture. The three non-voting members will promote a diversit...

JOINT PRESS RELEASE | MARCH 21, 2024 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Extend Applicability Date of Certain Provisions of their Community Reinvestment Act Final Rule Federal bank regulatory agencies today jointly issued an interim final ...

BOARD MATERIALS | MARCH 21, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporations Board of Directors met in an open session. The agenda includes: Proposed Statement of Policy on Bank Merger Transactions. Materials and information relative to the Board action are available here: Proposed Statement of Policy on Bank Merger Transactions Memorandum Proposed Statement o...

PRESS RELEASE | MARCH 19, 2024 FDIC Demands Three Companies Cease Making False or Misleading Representations aboutDeposit Insurance WASHINGTON The Federal Deposit Insurance Corporation (FDIC) issued letters demanding three companies and certain associated parties cease and desist from making false and misleading statements about FDIC deposit insurance. The FDIC is demanding that PrizePool, Inc. (...

SUNSHINE ACT NOTICE | MARCH 14, 2024 FDIC BOARD OF DIRECTORS MEETING The FDIC Board of Directors will meet in open session: Time and Date: 10:00 a.m. on Thursday, March 21, 2024. Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, 550 17th Street, NW, Washington, DC. Read the Notice & Agenda The FDIC d...

JOINT PRESS RELEASE | MARCH 13, 2024 Federal Deposit Insurance CorporationBoard of Governors of the Federal Reserve SystemNational Credit Union AdministrationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Take Temporary Action on Appraisal Requirements in Area Affected by Hawaii Wildfires To help facilitate recovery efforts from wild...

PRESS RELEASE | MARCH 7, 2024 FDIC-Insured Institutions Reported Full-Year 2023 Net Income of $256.9 Billion and Fourth Quarter 2023 Net Income of $38.4 Billion Full-Year 2023 Net Income Declined But Remained Well Above the Levels Reported Before the Pandemic Net Income Decreased From the Prior Quarter, Driven By Higher Noninterest and Provision Expenses and Lower Noninterest Income The Net Inter...

PRESS RELEASE | MARCH 4, 2024 FDIC ISSUES LIST OF BANKS EXAMINED FOR CRA COMPLIANCE WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in December 2023. The CRA is a 1977 law intended to enc...

JOINT PRESS RELEASE | FEBRUARY 29, 2024 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ AGENCIES HOST 2024 NATIONAL INTERAGENCY COMMUNITY REINVESTMENT CONFERENCE The federal bank regulatory agencies and the Federal Reserve Banks of San Francisco and Chicago wi...

PRESS RELEASE | FEBRUARY 29, 2024 FDIC Issues CRA Examination Schedules for Second Quarter 2024 and Third Quarter 2024 WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2024 and third quarter 2024. CRA regulations require each federal bank and thrift regulator ...

PRESS RELEASE | FEBRUARY 23, 2024 FDIC Makes Public January Enforcement Actions; No Administrative Hearings Schedules For March 2024 WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January 2024. There are no administrative hearings scheduled for March 2024. The FDIC issued 15...

PRESS RELEASE | FEBRUARY 16, 2024 AGENCIES ISSUE 2023 SHARED NATIONAL CREDIT PROGRAM REPORT WASHINGTON -- Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest rates on levera...

PRESS RELEASE | FEBRUARY 15, 2024 FDIC RELEASES ECONOMIC SCENARIOS FOR 2024 STRESS TESTING WASHINGTON -- The Federal Deposit Insurance Corporation (FDIC) today released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than $250 billion. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requ...