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FDICEstablishing and maintaining “an effective” customer identification program (CIP) for permitted payment stablecoin issuers (PPSIs) was proposed Thursday by federal banking and credit union regulators, and the Treasury’s financial crimes enforcement unit. The proposal, issued [...]
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OCCA filing is inconsistent with law or regulation if it does not meet the applicable statutory or regulatory criteria for that filing type, the national bank regulator said Wednesday in a bulletin focusing on the [...] -
OCCTwo banking executives were barred from any future work in federally insured financial institutions in consent prohibition orders announced Thursday by the Office of the Comptroller of the Currency (OCC). The agency’s prohibition orders noted [...] -
OtherAn annual review of the Federal Reserve’s Main Street Lending Program — created with other programs to ensure credit availability amid the COVID-19 pandemic — has seen 70% of the 1,830 loans made fully repaid, with [...] -
NCUAA mid-year budget update is on the agenda for the federal credit union regulator’s one-man board when he gavels in the meeting June 24, at 10 a.m. ET. According to the National Credit Union Administration [...] -
OCCAs there is no specified group of individuals presumed to be socially and economically disadvantaged under the statute creating minority depository institutions (MDIs), the national bank regulator is dropping portions of its rules that outline [...] -
NCUAGuidance on records preservation for credit unions concerning the length of time credit unions should retain various types of operational records was removed from the federal regulator’s regulations under a final rule adopted Monday. According [...] -
OtherUpdated guidance on how financial institutions are permitted to share information with each other regarding suspected fraud was issued by Treasury’s financial crimes enforcement arm under the USA PATRIOT Act. The Financial Crimes Enforcement Network [...] -
FDICMore than $389 million in unlawful transactions allegedly conducted in a cryptocurrency money laundering service has led to the June 10 arrests of two Republic of Georgia residents, the inspector general for the federal bank [...] -
CFPBPromoting “interoperability” by the establishment of joint data standards for financial regulatory data is the aim of a final rule issued Thursday by the five federal financial regulatory agencies. The rule, which applies the Financial [...]
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