FDIC Seeking Comment on Proposed Guidance for Third-Party Lending marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
Financial Institutions Group attorneys Jeffrey Alberts, Pinchus D. Raice and Dustin N. Nofziger have published an article titled, "FDIC Significantly Revises Intra-Agency Appeals Guidelines".
Key Democratic senators in the banking policy realm are pressing the Federal Deposit Insurance Corp. on the exclusion of the term “underbanked” from an agency report, a decision they say makes it difficult to understand a group of financially vulnerable people, and may have been driven by “political considerations.”
In a letter sent to FDIC Chair Jelena McWilliams on Wednesday afternoon and provided exclusively to Morning Consult, Sens. Sherrod Brown (D-Ohio), Elizabeth Warren (D-Mass.) and Tina Smith (D-Minn.) criticized the “alarming move” to hand off a biennial report that studied the unbanked and underbanked to the Division of Insurance and Research instead of the Division of Depositor and Consumer Protection, which was created in the aftermath of the 2008 financial crisis.