FDIC: Multiple NSF Fees Could Be Illegal
Banks that charge multiple nonsufficient funds fees on a single item could be violating consumer laws, according to the FDIC.
FDIC to Increase Scrutiny of Banks’ CRE Lending
With banks holding record volumes of commercial real estate loans, the FDIC plans to increase its focus on CRE transaction testing during its next cycle of bank examinations.
Massachusetts Banks Saw Earnings Decline in First Quarter
About one-third of Massachusetts-based banks reported earnings gains in the first quarter after last year saw bank earnings reach record levels, according to FDIC data.
Banking Regulators Take Stances on Unfair Discrimination
In the wake of the COVID-19 pandemic, consumer protection issues have risen as a key priority for federal banking regulators. And they’ve taken recent steps signaling a growing emphasis on addressing discrimination and abusive or deceptive practices.
FDIC Seeks Comments on Bank Mergers
The Federal Deposit Insurance Corp. has moved forward with plans to review bank merger policies, the next step in a move that led to controversy for the FDIC board late last year.
McWilliams Resigns as FDIC Chairman in Surprise Move
Weeks after a conflict arose between the FDIC chairman and board members, FDIC Chairman Jelena McWilliams has announced her resignation.
McWilliams Calls FDIC Board Members’ Move a ‘Hostile Takeover’
The controversy over proposals to review bank merger regulations continues to play out publicly, with the FDIC’s Trump-apointed chair at odds with a group of board members aligned with the Biden administration.
Regulators Aren’t on Same Page with Bank Merger Review
A request seeking public comments about bank mergers that one government agency said had been approved by the Federal Deposit Insurance Corp. has come under dispute after the FDIC said the request had not been approved.
New FDIC Investment Vehicle Will Support MDIs, CDFIs
A new investment vehicle designed by the Federal Deposit Insurance Corp. will let financial institutions and other organizations provide capital to insured Minority Depository Institutions and Community Development Financial Institutions that will then request funding through a “pitch process.”
Bank Deposit Surge Continued in 2021
The deposit surge that began in the early days of the pandemic continued this year, according to the FDIC’s annual report on bank deposits, with Massachusetts seeing a 34 percent since 2019.
Deposit Surge Continued in Fourth Quarter
Massachusetts banks saw the pandemic-induced deposit surge continue in the fourth quarter, as the year ended with a 25 percent increase in deposits compared to 2019.
FDIC Offers Bank Temporary Reporting Relief on PPP Assets
Banks with more than $500 million in assets will receive temporary relief from FDIC audit requirements if they experienced growth by participating in the Paycheck Protection Program and other economic aid activities.
FDIC Report: Gains in Bank Access Overshadowed by COVID
More Americans than ever obtained a basic bank account in 2019, the Federal Deposit Insurance Corp. said Monday. But data was gathered before the outbreak of the coronavirus pandemic and start of this historic recession.
Bank Deposits Up 21 Percent at Mass. Banks, Thanks to COVID
Eastern Bank edged ahead of Rockland Trust Company as the Massachusetts-based community bank holding the most deposits, according to the FDIC’s annual Summary of Deposits survey.
Earnings Down at Massachusetts Banks, FDIC Says
Most Massachusetts banks have had losses so far in 2020 as the pandemic and margin pressure continue to affect earnings.
Regulators Ease Volcker Rule Restrictions
The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds.
Fannie Doesn’t Shift on Appraiser Rules for Refis
New guidance from federal bank regulators and Fannie Mae includes no changes on a key issue bedeviling the state’s real estate appraisers and mortgage lenders.
Banks Get Extension to File Annual, Quarterly Call Reports
With federal and state regulators encouraging banks and credit unions to support customers during the coronavirus pandemic, agencies have in turn relaxed some of the filing deadlines for financial institutions.
Assets Increase, Income Declines at Massachusetts Banks in 2019
Massachusetts’ FDIC-insured banks saw total assets increase in 2019 while net income trailed 2018.
OCC, FDIC Release Proposed CRA Changes
If adopted, the rules would clarify what qualifies for credit under the CRA and where it qualifies. CRA regulations were adopted in 1977, and the last substantive changes were in 1995.
