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Dodd-Frank and agency consolidation
Although the specific requirements and burdens of the almost 250 regulations and more than 2000 pages in the Dodd-Frank Act are yet to…
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FDIC can now step in regardless of primary regulator (part 2)
Further to the previous post, the memorandum requires the FDIC opinion to prevail in the event that an institutions’ PFR (primary federal regulator) CAMELS rating differs from the FDIC: If the FDIC’s CAMELS ratings for an institution differ from a PFR’s assigned ratings, the FDIC is required to provide the PFR with an explanation of…
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FDIC can now step in regardless of primary regulator (part 1)
According to a memorandum of understanding just signed by all the primary federal regulators (FDIC, OTS, OCC and Fed), the FDIC now has the authority to step in whenever they feel the DIF (deposit insurance fund) is in jeopardy. Although this is primarily targeted at larger (>$10b) institutions, it also applies to smaller (<$10b) institutions…