FDIC

The international standards-setting body is weathering the infatuation with isolationism in the U.S. and elsewhere better than expected.

Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines.

As part of a larger regulatory relief effort, regulators have raised the dollar-amount threshold for commercial real estate transactions that require a formal appraisal.

Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.

The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.

Regulators said they were taking steps to recognize contributions to the recovery made by banks anywhere in the nation.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

Auditing firms cannot be expected to root out evil, or to conduct full forensic investigations.

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.

The agency's Quarterly Banking Profile said banks earned $47.9 billion in the third quarter, helped by a 7.4% increase in net interest income from the previous year.

Call-report data on commercial and industrial loans does not fully capture small-business lending by smaller institutions, a recent FDIC survey suggests.

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers.

The proposal is aimed at a simpler capital regime particularly for community banks, but some industry representatives and regulators themselves questioned whether the plan went far enough.

Higher net interest income and modest growth in expenses helped boost bank earnings by 10.7%, the FDIC said in its Quarterly Banking Profile.

A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead — but changes since the financial crisis may have made the proposal largely obsolete anyway.

The FDIC is watching banks that use wholesale funds to support CRE lending. The warning comes as brokered deposit levels at community banks are at their highest level in nearly six years.

Federal regulators issued a proposal Tuesday that would increase the threshold at which commercial real estate transactions require an appraisal, a move that could give some lenders sizable relief.

Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act.