A company that sold a gap insurance product as an add-on to its auto loan products will pay restitution and a civil money penalty over deceptive practices in its product marketing and misrepresentation of the […]
A statutory requirement for inflation adjustments every five years of the funds-availability amounts under the Electronic Funds Availability (EFA) Act would be implemented for the first time under a proposal issued Tuesday by regulators. Issued […]
Aggregate net income of $62 billion was recorded by federally insured banks and thrifts in the third quarter, with return on average assets of 1.41%, the highest quarterly level reported by the industry since quarterly […]
The federal credit union regulator board will meet 11 times in the new year, and skip an August meeting, according to a scheduled released by the agency Tuesday. The National Credit Union Administration (NCUA) said […]
Policy issues related to the resolution of systemically important financial companies will be the focus of an advisory committee meeting Dec. 6 at the Federal Deposit Insurance Corp. (FDIC) in Washington. The FDIC Systemic Resolution […]
Three advisory councils representing consumer and community development interests, community banks, and credit unions will meet simultaneously Dec. 6 by conference call to discuss artificial intelligence in consumer financial services and consumer access to financial […]
A proposal to reduce applicability thresholds for regulatory capital requirements and liquidity requirements for banks was issued for comment Tuesday by the Federal Deposit Insurance Corp. (FDIC) Board, but only after a split vote that […]
Eight actions – including a notice of charges against a former credit union chief executive and the closing of the credit union that individual led – are cited as “highlights” by the federal credit union […]
Calling it a “threat to financial stability,” the Federal Reserve Bank of Minneapolis said in a comment letter that it opposes the Federal Reserve Board’s proposal to relax liquidity-related regulations for large banks. The letter […]
Financial institutions affected by the California wildfires are encouraged to contact their functional regulators as well as the Financial Crimes Enforcement Network (FinCEN) “as soon as practicable” to discuss any delays in their ability to […]
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