Biden to Nominate Christy Goldsmith Romero as FDIC Chair
A longtime financial regulator, Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation’s financial derivatives regulator.
FDIC Chairman to Step Aside After Report on Toxic Workplace
The White House said Monday that Martin Gruenberg will step down, a departure that follows the release earlier this month of a damning report about the agency’s toxic workplace culture.
FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
Around 4,614 banks insured by the Federal Deposit Insurance Corp. across America saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Webster Bank a Winner from Spring Deposit Turmoil
Webster Bank was the only bank in the top 10 deposit-holders in Connecticut that registered an increase in deposits as bank customers scurried to spread their money around after the bank failures this spring, according to the latest FDIC deposit data.
Regulators Propose Stricter Debt Rules and ‘Living Wills’ for Regional Banks
Smaller regional banks like NBT Bank won’t be covered, but its big competitors like M&T and Citizens will be.
Big Banks Will Need to Hold More Capital Under New Fed Proposal
The nation’s biggest and most complex banks will need to hold additional capital on their balance sheets under an initial proposal by the Federal Reserve and FDIC.
Regulators Allow for Short-Term Troubled CRE Loan Mods
A top real estate industry trade group got to take a victory lap last week as federal banking regulators announced some rule changes around how banks will be required to deal with a wave of office loans that are maturing just as future demand for office space looks shaky.
FDIC to Exclude Small Banks from Special Assessment
If your bank has less than $5 billion in uninsured deposits, it will be exempted from a new FDIC fee being levied on the nation’s banks in order to replenish the agency’s deposit insurance fund.
FDIC Recommends Deposit Insurance Overhaul
The FDIC says it should be given the ability to insure some bank account balances above its standard $250,000 cap in order to preserve financial stability in the future.
New York Community Bank to Buy Failed Signature Bank
New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the FDIC said late Sunday.
Biden Urges Confidence in Banking System After Two Collapses
Despite message of reassurance from the White House, investors continued to dump shares in bank stocks Monday morning. Shares of First Republic Bank plunged more than 70 percent even after the bank said it was accessing emergency funding from the Federal Reserve.
FDIC Seizes $209B-Asset Bank as Investors Pull Cash
The FDIC seized the assets of Silicon Valley Bank Friday morning, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis.
Net Interest Income Drives Bank Earnings
Net interest income has helped drive earnings at Connecticut banks through the first three quarters of 2022, according to FDIC data.
FDIC Data Shows Loss in Former People’s United Deposit Share
While the total deposits at Connecticut banks remained steady during the 12-month period ending in June, FDIC data shows that the share of deposits once held by People’s United Bank has declined.
FDIC: Multiple NSF Fees Could Be Illegal
Banks that charge multiple nonsufficient fund fees on a single item could be violating consumer laws, according to the FDIC.
FDIC to Increase CRE Lending Scrutiny
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.
FDIC Seeks Comments on Bank Mergers
The Federal Deposit Insurance Corp. has moved forward with plans to review bank merger policies after an attempt late last year to address mergers led to controversy on the FDIC board.
Connecticut Banks Saw Record Income Last Year
Amid the ongoing economic effects of the pandemic, Connecticut bank earnings in 2021 reached record levels, according to FDIC data.
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 Federal Deposit Insurance Corp. Chairman Jelena McWilliams saying that FDIC board members are attempting a “hostile takeover” of the FDIC.
