Risk and Compliance Roundup
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?? In the News
Risk and Compliance Stories We're Following
FDIC-Insured Institutions Reported Return on Assets of 1.11 Percent and Net Income of $66.8 Billion in the Fourth Quarter
Source:?FDIC
Federal Deposit Insurance Corporation (FDIC) reported a return on assets (ROA) ratio of 1.11 percent and aggregate net income of $66.8 billion in fourth quarter 2024, an increase of $1.5 billion (2.3 percent) from the prior quarter.
Federal Reserve Board Begins 2025 Survey of Consumer Finances
Source:?Compliance Alliance
The Federal Reserve Board in March will begin its regular study of household finances, the Survey of Consumer Finances, which provides the public and policymakers with detailed and important insights into the economic condition of American families.
FinCEN Temporarily Pauses Enforcement of Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act
Source:?JD Supra
FinCEN announced that it will not impose fines, penalties, or other enforcement actions against companies for failing to file or update beneficial ownership information (BOI) reports under the Corporate Transparency Act (CTA) by current deadlines.
FDIC Issues Regulatory Relief Guidance for West Virginia
Source:?ABA
The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of West Virginia affected by severe storms, flooding and mudslides.
???FinTech Updates
Latest Financial Technology (FinTech) Trends
Federal Court Pauses Open Banking Rule Litigation
Source:?JD Supra
A federal judge in the United District Court for the Eastern District of Kentucky approved a joint motion between the CFPB and banking trade groups to pause litigation over the agency’s 1033 open banking rule.
7 FinTech and Payments Trends That Will Reshape Retail Banking in 2025
Source:?The Financial Brand
A new report offers a comprehensive look at key payments concepts that will impact retail banks, both in the near-term and longer. Here are seven that we think should be top of mind for payments leaders at U.S. institutions.
Fed Chair Powell Signals Cautious Approach Amid Economic Strength, Implications for FinTech and Banking
Source:?FinTech Weekly
Federal Reserve Chair Jerome Powell, in his testimony before the Senate Banking Committee, reaffirmed a patient stance on interest rate adjustments.
???Executive Moves
Key Risk and Compliance Hires
First Source Announces Executive Leadership Appointments
Pamela Goodison has been appointed Chief Financial/Chief Risk Officer. Pamela brings over 20 years of finance & accounting, and compliance & audit experience to the Credit Union.
Virginia Credit Union Enhances Leadership Team
Source:?Investors Hangout
Mike Brunson has been appointed to the newly established position of Executive Vice President and Chief Risk Officer.
F&G Annuities & Life Announces Chief Financial Officer Transition
Source:?PR Newswire
F&G Annuities & Life, Inc., a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, announced that Wendy Young will transition from her Chief Financial Officer role on April 1, 2025.
???What's Trending
Best of Social Media
FDIC Board of Directors Approves Proposal to Rescind 2024 Bank Merger Policy Statement
Source:?FDIC (Twitter)
The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a proposal to rescind the agency’s 2024 Statement of Policy on Bank Merger Transactions (PDF).
OCC Issues Second and Third Quarter 2025 CRA Evaluation Schedule
Source:?OCC (Twitter)
The Office of the Comptroller of the Currency (OCC) released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2025.
Share Insurance Fund Report Highlights Asset, Income Growth in Q4 2024
Source:?NCUA (Twitter)
The National Credit Union Administration Board held its second open meeting of 2025 and received a briefing (Opens new window) by the Chief Financial Officer on the performance of the National Credit Union Share Insurance Fund for the quarter ending on December 31, 2024.
The Right-Sized Risk and Issues Solution for U.S. Community Banks and Credit Unions
Source:?360factors (LinkedIn)
Great news for U.S. community banks and credit unions! Predict360 Essentials simplifies risk and compliance management for institutions under $3 billion in assets. With AI-powered automation and real-time insights, staying compliant has never been easier.
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