FEDERAL GOVERNMENT RELATIONS
FDIC updates rules on reciprocal deposits
The Federal Deposit Insurance Corp. issued a final interim rule to update its regulations on reciprocal deposits to conform with housing legislation recently passed by Congress.
FDIC, OCC formally define unsafe and unsound practices
The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency finalized a rule to formally define “unsafe and unsound practices,” which they said would bring more certainty to bank supervision.
FDIC’s Hill says agency would welcome Fed participation in CRA rulemaking
The Federal Deposit Insurance Corp. has held conversations with the Federal Reserve about a proposed series of amendments to Community Reinvestment Act regulations and would welcome the central bank’s participation, FDIC Chairman Travis Hill said.
Federal agencies rescind guidance on special-purpose credit programs
Federal housing and banking regulators are rescinding 2022 guidance on special-purpose credit programs, saying the document conflicts with fair lending law.