Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
News & Analysis as of

New Guidance From FFIEC on Mobile Financial Services

Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC)....more

Interagency Guidance Issued Regarding Deposit Reconciliation Practices

Federal banking agencies have advised financial institutions to adopt deposit reconciliation policies and practices for customer accounts, and to effectively manage the institution’s deposit reconciliation practices to comply...more

Financial Services Weekly News - May 2016 #4

Breaking News - Solicitor General Files Brief in Madden v. Midland Funding - On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland...more

Second Circuit Reaffirms Its View That Extender Statutes Supersede Statutes of Repose

The Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”) includes a so-called Extender Statute prescribing the limitations period for actions brought by the Federal Deposit Insurance Corporation (“FDIC”) as...more

Agencies Invite Comment on Proposed Rule to Prohibit Incentive-Based Pay that Encourages Inappropriate Risk-Taking in Financial...

On May 16, 2016, six federal agencies – the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Federal Reserve Board of Governors, the National Credit Union Administration, the Office of the...more

A Weak Link In Financial Data Security? Congress Presses FDIC On Its Data Breach Prevention And Response

On Thursday, May 12, the House of Representatives’ Science, Space, and Technology Committee scrutinized the FDIC’s data, privacy and security measures and response plans in a hearing, after the FDIC suffered a spate of data...more

Penny Proof for Deposits: Federal Banking Regulators Issue Interagency Guidance Regarding Deposit Reconciliation Practices

On May 18, 2016, five federal banking agencies—the Board of Governors of the Federal Reserve System (“Board”), the Consumer Financial Protection Bureau (“CFPB”), the Federal Deposit Insurance Corporation (“FDIC”), the...more

Regulators Issue New Guidance on Expectations of Deposit Reconciliations: Beware of the UDAAP Implications

In response to a recent consent order against a depository institution and several other examinations of major banks, five federal financial regulators have issued an inter-agency guidance ensuring that depository...more

Banking Agencies Issue Deposit-Reconciliation Best Practices

Five federal regulators on Wednesday – the FDIC, the Fed, CFPB, NCUA, and OCC – issued an interagency guidance applicable to all FDIC-supervised financial institutions describing expectations for effective...more

Bank Regulators Revive Restrictions on Incentive-Based Compensation

Financial regulators have proposed new rules limiting the incentive pay of employees and other service providers at financial institutions. The Dodd-Frank Act of 2010 prohibits incentive compensation that encourages...more

Financial Regulators Explain Their Expectations for Deposit Reconciliation

This week, the Federal Reserve Board, CFPB, FDIC, NCUA and OCC issued guidance regarding the agencies' supervisory expectations for deposit reconciliation on consumer accounts. The agencies summarized their observations on...more

The SEC is Seeking Comment on a Joint Agency Proposed Rule Relating to Incentive-based Compensation Arrangements

On May 6, 2016, the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency...more

CFPB issues guidance on deposit reconciliation practices

The CFPB and four other agencies have issued “Interagency Guidance Regarding Deposit Reconciliation Practices.”  The other agencies are the OCC, Fed, FDIC, and NCUA.  The guidance is intended to set forth the agencies’...more

FDIC reports five “major” data incidents to Congress

The Federal Deposit Insurance Corporation (FDIC) reported on Monday, May 16, 2016, that it had experienced five “major incidents” involving the disclosure of taxpayers’ personal information since the last incident we reported...more

Chief Information Officer of US Federal Deposit Insurance Corporation Testifies before the US House of Representatives on...

Chief Information Officer and Chief Privacy Officer of the US Federal Deposit Insurance Corporation, Lawrence Gross, testified before the Committee on Science, Space, and Technology of the U.S. House of Representatives’...more

Take Two: Incentive-Based Payment Arrangements Rule Reappears

For a second time, federal banking regulators are seeking comment on a jointly proposed rule that would impose restrictions on incentive-based pay arrangements....more

New Proposed Rules on Curbing Wall Street Incentive Compensation

Six federal agencies (the "Agencies") consisting of: the Federal Deposit Insurance Corporation ("FDIC"), National Credit Union Administration ("NCUA"), Federal Housing Finance Agency ("FHFA"), Office of the Comptroller of the...more

Financial Services Weekly News - May 2016 #2

Regulatory Developments - Client Alert: CFPB Proposes Rules Prohibiting Class-Action Waivers in Arbitration Agreements - On May 5, the CFPB issued long-expected proposed rules that will drastically limit the use of...more

California Case Deals with Nuisance Lawsuit Intended to Delay Foreclosure

A recent California case provides good precedent for dealing with nuisance lawsuits that are intended to delay valid foreclosures. In Brown v. Deutsche Bank National Trust Company —Cal.Rptr.3d—, 2016 WL 2726229 (May 9, 2016),...more

Agencies Propose Net Stable Funding Ratio Rule

On May 3, 2016, the Federal Deposit Insurance Corporation, the Federal Reserve and the Office of the Comptroller of the Currency proposed a rule, the net stable funding ratio (the “NSFR”), to strengthen banks by requiring...more

Fintech Regulation: Recent Developments And Innovations

The past few years have been boom times for financial technology (fintech), with investments in fintech companies rising from $1.8 billion in 2010 to $19 billion in 2015 according to one study. Will recent regulatory...more

US Federal Deposit Insurance Corporation Chairman Gruenberg Remarks on Banking Industry Consolidation and the Prospect of De Novo...

US Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg discussed the consolidation of community banks, noting that while many of the smallest (with assets less than $100 million) have either consolidated or...more

US Federal Deposit Insurance Corporation Chairman Gruenberg Discusses Resolution of Systemically Important Financial Institutions

FDIC Chairman Martin Gruenberg discussed improvements in cross-border cooperation with respect to the resolution of systemically important financial institutions. He highlighted ongoing conversations among leading financial...more

US Federal Deposit Insurance Corporation Adopts Final Rule to Amend How Small Banks are Assessed for Deposit Insurance

The FDIC approved a final rule that amends how banks with less than $10 billion in assets that have been insured for a minimum of five years are assessed for deposit insurance. The rule updates the data and revises the...more

US Federal Deposit Insurance Corporation Vice Chairman Hoenig Discusses a Framework for Tailored Supervision

US Federal Deposit Insurance Corporation Vice Chairman Thomas M. Hoenig discussed the decline of traditional community banks over the last thirty years and the resulting concentration of the US financial system in a few large...more

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