Supervision News Flash
While a singular complaint may not be indicative of a large or systemic problem, multiple complaints on the same issue can more clearly indicate a broader issue. The key to understanding which of these two scenarios you have is maintaining an effective complaints management process.
The Federal Reserve Board of Governors, the Federal Reserve Bank of Richmond and the Internet Policy Research Initiative at the Massachusetts Institute of Technology (MIT) are hosting the second Conference on Measuring Cyber Risk in the Financial Services Sector on January 16-17, 2024. The conference will convene experts from industry, government and academia to discuss efforts to measure and track cyber risk across the financial system.
We speak to trends in examination findings, offer resources like the Cyber Sim Lab to complement your risk and resilience practices, and update you on our District happenings through our banking outreach.
As the year comes to a close, now is a great time to start thinking about your year-end Call Report. Our Statistics team within Supervision, Regulation and Credit at the Richmond Fed would like to share some tips to ensure that your next submission goes smoothly.
It is no secret that commercial real estate (CRE) has bubbled up to the top of most lists of key risks facing the banking industry. Coming in September, Ask the Regulators will conduct a webinar on the latest guidance SR Letter 23-5: Prudent Commercial Real Estate Loan Accommodations and Workouts.
Learn more about implementation of Section 1071 of the Dodd-Frank Act amending the Equal Credit Opportunity Act (ECOA), which requires the collection and reporting of credit application data for small businesses lending, including women- and minority-owned businesses, and also about regulatory changes to Home Mortgage Disclosure Act thresholds.
Growth in the crypto-asset industry and recent events underscore the need for banks to have the appropriate systems, effective internal controls and risk management processes in place.
Third quarter 2022 loan growth was strong as Fifth District banks outpaced the nation in all loan categories even as rates continued to increase.
In 2020, some prosecutors described suspicious activity related to illicit use of pandemic relief as one of the largest frauds in U.S. history.
The Federal Reserve launched a new resource designed to help lenders understand the Metropolitan Statistical Area boundaries and demographics due to the 2020 Decennial Census update.