FDIC-insured banks and savings institutions earned $38.7 billion in the third quarter, 7.3 percent higher than the industry’s earnings a year ago, the FDIC said yesterday.
According to the schedule, the bureau’s controversial Home Mortgage Disclosure Act expansion is expected to be finalized by July 2015. Final rules are expected on appraisal management companies by next month, on Regulation CC by June 2015.
Comptroller of the Currency Thomas Curry on Friday highlighted the importance of banks proactively working to strengthen their “risk cultures,” including those that have shifted practices in advance of pending regulations.
The new terms take effect immediately and apply retroactively to loans sold since Jan. 1, 2013, that have not been subject to a buyback.