The regulator has dropped its proposed “public interest” test, but will take certain aspects of its proposals forwards. By Andrea Monks, Rob Moulton, Nell Perks, Anna James, and Charlotte Collins On 3 June 2025, the FCA published its final policy (PS25/5) on announcing enforcement investigations, along with its updated Enforcement Guide, ending a rather turbulent...

Federal Reserve announces Wells Fargo is no longer subject to the asset growth restriction from the Board’s 2018 enforcement action against the bank

Minutes of the Board's discount rate meetings on April 7, April 28, and May 7, 2025

Federal Reserve Board announces approval of application by Crown Agents Bank Limited

The Securities and Exchange Commission today announced that Natalia Díez Riggin has been named Senior Advisor and Director of the agency’s Office of Legislative and Intergovernmental Affairs. Ms. Riggin has been serving as Acting Director since joining…

PRESS RELEASE | MAY 30, 2025 FDIC Announces Retirement of Patrick Mitchell, Director of the Division of Insurance and Research WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today announced the retirement of Patrick (Pat) Mitchell, Director of the Division of Insurance and Research (DIR).  “Pat’s intellectual prowess, wide-ranging expertise, and deep understanding of economic, banking, and policy issues has been a tremendous resource for our agency,” said FDIC Acting Chairman Travis Hill. “Whether he was analyzing risks in the banking sector or managing the FDIC’s Deposit Insurance Fund (DIF), Pat always approached his work thoughtfully and proficiently.” Mr. Mitchell joined the FDIC in 2010 as a financial analyst and served in several other management roles before being named division director in May 2022. He oversaw the FDIC’s work monitoring existing and emerging risks to the DIF, and led DIR’s response to the 2023 regional bank failures. During his 15 years at the FDIC, Mr. Mitchell also served as Deputy Director for Risk Analysis and Pricing, Associate Director of Asset Management in the Division of Resolutions and Receiverships (DRR), and Chief of DIR’s Large Bank Pricing section. Mr. Mitchell is a Chartered Financial Analyst and earned a Master of Business Administration degree from the University of North Carolina at Chapel Hill and a Bachelor of Science degree in economics from the United States Military Academy.  He also attended the Senior Managers in Government program at the Harvard Kennedy School. # # # MEDIA CONTACT:  mediarequests@fdic.gov The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. STAY CONNECTED

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

PRESS RELEASE | MAY 30, 2025 FDIC Issues CRA Examination Schedules for Third Quarter 2025 and Fourth Quarter 2025 WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter 2025 and fourth quarter 2025.  CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter.  The Community Reinvestment Act is a 1977 law that requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.  CRA examinations allow federal regulators to assess an institution's record of helping to meet those needs. CRA examinations are scheduled based on an institution’s asset size and CRA rating.  Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of Satisfactory can be subject to a CRA examination no more frequently than once every 48 months.  Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of Outstanding can be subject to a CRA examination no more frequently than once every 60 months.   The schedules of institutions to be examined July 1, 2025, through September 30, 2025, and October 1, 2025, through December 31, 2025, are based on the best information now available and are subject to change.  For example, a regulated financial institution not otherwise scheduled for an examination may be examined in connection with the application for a deposit facility.  Alternatively, some institutions may require more time and resources than originally allotted, thus delaying other scheduled examinations.  If an institution is rescheduled for a different quarter, that information will be included on a later list.  Federal bank and thrift regulators encourage public comment on the institutions to be examined under the CRA. Comments about FDIC-supervised institutions should be directed to the institutions themselves or to the Deputy Regional Director of the appropriate FDIC regional office (attached).  All public comments received prior to completion of a CRA examination will be considered. The CRA examination schedules for the third quarter of 2025 and fourth quarter of 2025 are attached.  Schedules also can be obtained by calling (703) 562-2200 or (877) 275-3342, faxing a request to (703) 562-2296, or writing to: FDIC Public Information Center 3501 Fairfax Drive Room E-1002 Arlington, VA 22226 ATTACHMENTS: CRA Exam Schedule Listings for Third Quarter 2025 and Fourth Quarter 2025 FDIC CRA Regional Office Contacts # # # MEDIA CONTACT:  LaJuan Williams-Young lwilliams-young@FDIC.gov The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. STAY CONNECTED

PRESS RELEASE | MAY 30, 2025 FDIC Publishes Enforcement Orders for April 2025  WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today published a list of administrative enforcement orders taken against banks and individuals, including two decisions and orders that were inadvertently omitted previously. There are no administrative hearings scheduled for June 2025. Amended and Restated Consent Order, Order for Restitution and Order to Pay: Discover Bank; Wilmington, DE (Docket No.: FDIC-23-0014b, FDIC-24-0130b, FDIC-24-0102k) Order of Prohibition from Further Participation and Order for Restitution: Truist Bank; Charlotte, NC (Docket Nos.: FDIC-24-0088e, FDIC-24-0089b) Orders of Prohibition from Further Participation: EvaBank; Eva, AL (Docket No.: FDIC-24-0085e) First Financial Bank in Winnebago; Winnebago, MN (Docket No.: FDIC-24-0114e) Consent Orders: Hatch Bank; San Marcos, CA (Docket No.: FDIC-24-0062b) Cheyenne State Bank; Cheyenne, WY (Docket No.: FDIC-25-0048b) Orders Terminating Consent Order: Forbright Bank; Potomac, MD (Docket No.: FDIC-22-0152b) Herring Bank; Amarillo, TX (Docket No.: FDIC-23-0036b) Forbright Bank; Potomac, MD (Docket No.: FDIC-23-0125b) Orders to Pay Civil Money Penalties: Waterman Bank; Waterman, IL (Docket No.: FDIC-24-0092k) Oakwood Bank; Pigeon Falls, WI (Docket No.: FDIC-24-0123k) Forbright Bank; Potomac, MD (Docket No.: FDIC-25-0034k) Decisions and Orders on Denying Motion for Interlocutory Review: Independence Bank; East Greenwich, RI (Docket Nos.: FDIC-22-0109e, et al):  August 15, 2024 Independence Bank; East Greenwich, RI (Docket Nos.: FDIC-22-0109e, et al):  October 10, 2024 April 2025 Enforcement Decisions and Orders ### MEDIA CONTACT:  LaJuan Williams-Young lwilliams-young@FDIC.gov The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. STAY CONNECTED

The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington D.C. on June 5, 2025, at 10 a.m. ET. The meeting will also be webcast on the SEC website. The committee will host two…