FDIC Proposes Rule to Increase Flexibility for Banks to Share Confidential Supervisory Information

The Federal Deposit Insurance Corporation (FDIC) Board of Directors has approved a notice of proposed rulemaking to amend its regulations, allowing insured depository institutions (IDIs) greater flexibility to share confidential supervisory information for legitimate business purposes. This includes sharing with affiliates, attorneys, auditors, and in the context of prospective mergers.