🏦Change in Bank Control Notices
The Federal Reserve System issued a notice regarding applications under the Change in Bank Control Act for acquisitions of bank shares. It emphasizes the need for public comments on these applications and outlines the inspection process for related filings, signifying key compliance and regulatory requirements for stakeholders.
Learn More📜OFAC Extends Recordkeeping to 10 Years for Businesses
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing this final rule to adopt, without change, an interim final rule to amend the Reporting, Procedures and Penalties Regulations (the "Regulations"), extending certain recordkeeping requirements from five to 10 years, consistent with the statute of limitations for violations of certain sanctions administered by OFAC.
Learn More🏦FDIC Withdraws Proposed Banking Regulations Affecting Corporations
The Federal Deposit Insurance Corporation (FDIC) is withdrawing notices of proposed rulemaking relating to brokered deposit restrictions, corporate governance and risk management, and the Change in Bank Control Act. If the FDIC decides to pursue future regulatory action in any of these areas, it will issue a new proposed rule.
Learn More🏦Change in Bank Control Notices and Share Acquisitions Overview
The Federal Reserve System issued a notice regarding applications under the Change in Bank Control Act, detailing factors for acquisition of bank shares. The public can comment on these applications, which will be disclosed without modifications to personal information. Interested parties must submit comments by the specified deadline for each Federal Reserve Bank.
Learn More🏦Regulatory Notice
The Federal Reserve System has issued a notice regarding applications for acquiring shares of banks or bank holding companies under the Change in Bank Control Act. The public can comment on applications, which must be received by a specified date. Furthermore, applications and related filings are available for public inspection.
Learn More🏦FDIC Delays Compliance Dates for Sign and Advertising Requirements
On December 20, 2023, the FDIC adopted a final rule that, among other things, amended the FDIC's sign and advertisement of membership requirements for insured depository institutions (IDIs). The amendments made by the final rule took effect on April 1, 2024; however, full compliance with the amendments was delayed to January 1, 2025. On October 22, 2024, full compliance with the amendments to the sign and advertisement of membership requirements contained in the final rule was delayed to May 1, 2025. The FDIC is further postponing the compliance date for the requirement to display the FDIC official digital sign on an IDI's digital channels, as well as on the screen of an IDI's automated teller machine (ATM) and like devices, to March 1, 2026. During this time, the FDIC will continue to review the feedback received regarding implementation issues and potential consumer confusion that may result from requirements related to the display of the digital sign. After completing its review, the FDIC expects to propose changes to the regulation to address implementation concerns and potential sources of confusion.
Learn More🏦Change in Bank Control Notices for Business Acquisitions Overview
The Federal Reserve System issued a notice regarding applications under the Change in Bank Control Act for acquiring shares of banks or bank holding companies. The public can comment on these applications, which will be subject to disclosure, impacting potential investors and stakeholders in the banking sector.
Learn More🏦FDIC Information Collection Activities
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below (OMB Control No. 3064-0117; -0145 and -0161).
Learn More🏦FDIC Notice
The Federal Deposit Insurance Corporation (FDIC) has issued a notice regarding the intent to terminate the receivership of New City Bank in Chicago, Illinois. Following the completion of asset liquidation, the FDIC will make final dividend payments to proven creditors. Comments regarding the termination must be submitted within 30 days of the notice.
Learn More🔒OCC Seeks Comments on Minimum Security and Reporting Requirements
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, "Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program."
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