FDIC

The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology.

The regulators have yet to complete rules on regional bank supervision, community bank capital and other provisions meant to ease institutions' burden.

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard.

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.

While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.

Private flood insurance rules that go into effect this summer have a safe harbor for some policies, but determining whether others are compliant could be a time-consuming, imprecise and costly exercise.

The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.