The federal financial institution regulatory agencies issued updated FAQs for the new accounting standard on credit losses. The newly issued FAQs include both changes to previously issued FAQs and new FAQs.
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In a speech earlier this year, FDIC Chair Jelena McWilliams provided some insights concerning her vision with regard to bank regulation.
Changing and advancing technology continues to impact the financial services industry. This influence is far reaching, and has implications not only related to consumer preferences but also to raise policy and regulatory questions.
The Office of Inspector General issued a report dated January 28, 2019 with recommendations designed to improve the Bureau Division of Supervision, Enforcement and Fair Lending’s (SEFL) Matters Requiring Attention (MRA) follow-up process.
As a New Orleans native, we are very proud of our cooking and food – and, for good reason. My grandmother had to be one of the best cooks that ever walked the face of the earth. No matter the dish, whatever she was serving up was unbelievably good.
After an uptick in the third quarter of 2018, the Mortgage Bankers Association reported delinquency rates on 1-4 family residential properties have fallen to an 18 year low. This is according to the Mortgage Bankers Association National Delinquency Survey.
The new CECL standard is presumably designed to enhance the stability of the financial sector by providing more accurate assessments of loan losses. It also requires a change from the current estimates of loan losses that are produced by most institutions today to projections or forecasts.
Speaking at the American Bar Association Banking Law Committee Annual Meeting, "Principles of Supervision"; in Washington, D.C., FDIC Chair McWilliams described her vision and priorities for the Corporation.
A regulatory examination of lending activity, whether fair lending related or safety and soundness, always focuses on data. Data integrity notwithstanding (which is another blog post entirely), such data is a function of (2) things: (1) policies and (2) actual practices. The interaction of these two forces creates the lending data that will be the subject of a regulatory examination. These data, in turn, will shape the ultimate outcome of the review.
