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- Regulators published Home Mortgage Disclosure Act (HMDA) data for approximately 5,400 financial institutions. This is the first year in which additional data reported by certain institutions under the 2015 HMDA rule will be available. The Modified Loan Application Registers contain loan-level information for 2018 on individual HMDA filers, modified to protect privacy. Additional information will be published later in 2019 related to HMDA, including a complete loan-level data-set and disclosure reports. These will be accompanied by an article highlighting key trends.
The FDIC Board approved proposals to amend two rules to simplify the process for making insurance determinations in the event a bank is placed into receivership. One, which applies only to institutions with more than 2 million deposit accounts, would facilitate the payment of insured deposits to customers if the institution were to fail. The second applies to all FDIC-insured institutions and provides an alternative method for separately insuring deposits in a joint account from deposits individually owned by the account’s co-owners. Current rules require each co-owner to have signed a signature card. The proposal would allow the signature card requirement to be satisfied by other information contained in an institution’s deposit account records.
- The Federal Reserve Board announced the appointment of Patrick McClanahan as Chief Operating Officer, effective April 29. McClanahan will be responsible for the operation of the board’s administrative and financial management functions, technology services, short- and long-term strategic planning, and data management.
- Small Business Administration Administrator Linda McMahon announced she will step down April 12 after two years at the SBA. She plans to return to the private sector helm, and will chair the President’s 2020 America First Action super PAC supporting his re-election.
- The OCC recently reminded national banks that they are prohibited by regulation from disclosing nonpublic OCC information. Any unauthorized disclosure or use of OCC exam reports and CAMELS ratings, supervisory correspondence, investigatory files and other nonpublic information without the OCC’s permission may be subject to criminal penalties under federal law.