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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-02-21T15:59:00
It’s been nearly a year since Silicon Valley Bank (SVB) kicked off a run of U.S. bank failures, and the Federal Reserve Board has changed how it supervises mid-sized and large institutions as a result.
Since March 2023, the Fed has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks mid-sized and large banks aren’t taking seriously enough, according to Michael Barr, the agency’s vice chair for supervision.
In a speech delivered Friday to the Columbia Law School Banking Conference in New York City, Barr said the Fed has sought to address the supervisory issues that failed to properly manage the deficiencies that led to the collapse of SVB, Signature Bank, and First Republic Bank last year.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
2024-05-07T19:47:00Z By Aaron Nicodemus
Federal regulators adopted a notice of proposed rulemaking on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”
2024-03-22T17:14:00Z By Aaron Nicodemus
The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.
2024-03-04T19:24:00Z By Aaron Nicodemus
New York Community Bancorp, a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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