McWilliams Resigns as FDIC Chairman in Surprise Move
Weeks after a conflict arose between the FDIC chairman and board members, FDIC Chairman Jelena McWilliams has announced her resignation. McWilliams sent a letter Friday to President Joe Biden saying that she would resign effective Feb. 4. The FDIC released a copy of...
Federal Regulators Modify Capital Rules for Banks with PPP Loans
To encourage more banks to participate in the Paycheck Protection Program, the three federal bank regulators have modified their capital rules to encourage banks to use a Federal Reserve lending facility. The Federal Reserve also took steps to provide more loans to...
Bank Regulators Clarify CECL Delays
The CARES Act and an interim final rule by bank regulators provided conflicting guidance on CECL implentation, prompting federal bank regulators to issue another joint statement clarifying the rule. According to the statement, banks subject this year to the new...This Week’s Paper: Digital Edition
