Industry News

REPORT | MAY 7, 2024 Special Review Committee of the FDIC Board of Directors Releases Independent Third-Party Report The Special Review Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors today released the report from the independent third-party review conducted by Cleary Gottlieb. Read the Special Review Committees Press Release Read FDIC Chairman Martin J. Gruenber...

BOARD MATERIALS | MAY 6, 2024 By notational vote, the Board approved a notice regarding Proposed Rulemaking on Incentive-based Compensation Arrangements. The following item was approved: Proposed Rulemaking to Address Incentive-Based Compensation Arrangements Memorandum and resolution regarding Proposed Rulemaking on Incentive-based Compensation Arrangements Press Release Financial Institution Le...

JOINT PRESS RELEASE | MAY 3, 2024 Federal Reserve BoardFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Issue Guide to Assist Community Banks to Develop and Implement Third-Party Risk Management Practices Federal bank regulatory agencies today released a guide to support community banks in managing ...

PRESS RELEASE | MAY 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 February 2024. The CRA is a 1977 law intended to encou...

PRESS RELEASE | MAY 2, 2024 FDIC Announces Personnel Changes WASHINGTON The Federal Deposit Insurance Corporation (FDIC) has appointed John F. Vogel Regional Director, New York Region effective January 14, 2024, and Jessica A. Kaemingk Regional Director, Kansas City Region effective May 5, 2024. In these positions, they direct both Risk Management and Consumer Protection supervision programs for ...

PRESS RELEASE | APRIL 26, 2024 Fulton Bank, N.A. of Lancaster, Pennsylvania Assumes Substantially All Deposits of Republic First Bank, Philadelphia WASHINGTON Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect dep...

PRESS RELEASE | APRIL 26, 2024 FDIC Makes Public March Enforcement Actions; No Administrative Hearing Scheduled for May 2024 WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March 2024. There are no administrative hearings scheduled for May 2024. The FDIC issued 11 orders in M...

PRESS RELEASE | APRIL 26, 2024 FDIC Names Five New Members to Advisory Committee on Community Banking May 2nd meeting to address a wide range of community banking issues WASHINGTON The Federal Deposit Insurance Corporation (FDIC) today announced five new members of the agencys Advisory Committee on Community Banking: Marlene Barkheimer, CEO, Farmers State Bank, West Salem, Ohio Heidi Brown, Execu...

BOARD MATERIALS | APRIL 25, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporations Board of Directors met in an open session. The agenda includes: Deposit Insurance Fund Restoration Plan Semiannual Update and Notice of Proposed Rulemaking on Bank Change in Control Act. Materials and information relative to the Board action are available here: Deposit Insurance Fund ...

PRESS RELEASE | APRIL 24, 2024 FDIC Names Four Bankers to Minority Depository Institutions Subcommittee May 1st meeting to address key challenges and opportunities for minority banks WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today announced four new members of the agency's Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking: John ...

SUNSHINE ACT NOTICE | APRIL 23, 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, April 25, 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...

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 ...