The Federal Deposit Insurance Corporation’s Board of Directors approved the withdrawal of three outstanding proposed rules covering brokered deposits, corporate governance, and the Change in Bank Control Act, and also withdrew staff authority to publish a separate proposal on incentive-based compensation arrangements. The brokered deposits proposal, published on August 23, 2024, was described as potentially disrupting many aspects of the deposit landscape. The corporate governance proposal, published on October 11, 2023, would have imposed prescriptive, process-oriented expectations on management and boards of directors of FDIC-supervised institutions with USD 10 billion or more in total consolidated assets. The Change in Bank Control Act proposal, published on August 19, 2024, would have removed an exemption from the requirement to file a notice with the FDIC for certain acquisitions of voting securities of a depository institution holding company where the Federal Reserve reviews a Change in Bank Control Act notice. The incentive-based compensation proposal had been approved by the Board on May 3, 2024 but was never published in the Federal Register. If the FDIC pursues regulatory action on these topics in the future, it will do so through new proposals or other issuances consistent with the Administrative Procedure Act.
Federal Deposit Insurance Corporation 2025-03-03
Federal Deposit Insurance Corporation withdraws four pending rule proposals on brokered deposits, corporate governance, change in bank control and incentive compensation
The Federal Deposit Insurance Corporation's Board has withdrawn proposed rules on brokered deposits, corporate governance, the Change in Bank Control Act, and incentive-based compensation. These proposals included significant changes to deposits, governance expectations, and acquisition notice requirements. Future actions will adhere to the Administrative Procedure Act.