Federally chartered credit unions may use a written narrative to meet requirements for expanding their membership scope in a community, as long as the narrative demonstrates the institution’s ability for serve the community and intent […]
A final rule that conforms provisions of the Swap Margin Rule with banking agency rules limiting certain qualified financial contracts (QFCs) has been adopted as proposed and is set to take effect Nov. 9. The […]
Regulators were on stage this past week, discussing initiatives, implementation of the new regulatory relief law, their roles and what they wanted from Congress – among other things – in different venues, but all on […]
A list of state nonmember banks whose Community Reinvestment Act (CRA) ratings were released Friday covers 66 banks across six regions, with all rated as “satisfactory” except for three. The list, released by the Federal […]
Civil money penalties (CMPs) ranging from a low of $150 to a high of $920, with a grand total of $4,133, are to be paid by 10 credit unions that filed late call reports for […]
The federal receiverships of three failed banks in Florida, North Carolina, and Illinois were terminated Oct. 1, and an additional receivership is scheduled to end about 30 days from now, according to notices Friday in […]
A consent order citing substantial delays in an online retailer’s forwarding of customers’ payments on debts already sold to debt buyers requires process improvements and imposes a civil money penalty of $200,000, the federal consumer […]
Chairman Jelena McWilliams will both open and close the Oct. 10 meeting of the Advisory Committee on Community Banking of the Federal Deposit Insurance Corp. (FDIC), the agency noted Thursday in releasing the agenda for […]
Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an advisory Thursday to alert U.S. financial institutions of the increasing risk that proceeds of political corruption from Nicaragua may enter or traverse the U.S. financial system. FinCEN says it […]
One of the tasks of central banks is to demonstrate that they are “appropriate institutions” in democratic societies, the vice chairman of the U.S. central bank said in remarks Thursday, supporting the continued independence of […]
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