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Federal Deposit Insurance Corporation (FDIC)

Another Positive Quarter for U.S. Banking Industry, $38.7 Billion in Q3 Profit

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Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $38.7 billion in the third quarter of 2014, up $2.6 billion (7.3 percent) from earnings of $36.1 biClick to continue

FDIC Releases Technical Assistance Video on CFPB Mortgage Rules

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The Federal Deposit Insurance Corporation (FDIC) has announced the release of the first in a series of three new technical assistance videos developed to assist bank employees in meeting regulatory requirements. These new videos will address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB).Click to continue

Bipartisan Measure Introduced to Require State Representation on Federal Banking Board

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U.S. Sens. Tom Coburn (R-OK) and Mazie Hirono (D-HI) have jointly introduced bipartisan legislation that would ensure proper state regulatory representation on the Board of the Federal Deposit Insurance Corporation (FDIC).Click to continue

Multiple Agencies Agree to Potential Basel Changes

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The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have adopted a final rule modifying the definition of the denominator of the supplementary leverage ratio in a manner consistent with recent changes agreed to by the Basel Committee on Banking Supervision. The revisions to the supplementary leverage ratio apply to all banking organizations subject to the advanced approaches risk-based capital rule.Click to continue

Regulators Target AMCs With Joint Proposed Rule

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A new regulation is slated to be implemented on appraisal management companies (AMCs) would be subject if, in a given year, it oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state, or 25 or more state-certified or state-licensed appraisers in two or more states.Click to continue

CFPB to Closely Examine Mobile Financial Services

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The Consumer Financial Protection Bureau (CFPB) has announced that it is launching an inquiry into the opportunities and challenges associated with the use of mobile financial services. As part of the inquiry, the Bureau is exploring how mobile technologies are impacting unbanked and underserved consumers with limited access to traditional banking systems.Click to continue

FDIC-Insured Banks and Savings Institutions Report $3.1 Billion Year-Over-Year Loss in Q1

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Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $37.2 billion in the first quarter of 2014, down $3.1 billion (7.6 percent) from earnings of $40.3 billion the industry reported a year earlier. The decline in earnings was mainly attributable to a $7.1 billion (10.7 percent) decline in non-interest income.Click to continue