Representatives from two divisions of the federal consumer protection bureau are scheduled to testify July 12 during a Senate Banking Committee hearing, “An Overview of the Credit Bureaus and the Fair Credit Reporting Act.” Listed […]
Fourteen large banking firms received an extra year to file their living wills to allow more time for the federal banking agencies to provide feedback on the companies’ last submissions, and for the companies to […]
An analysis utilizing monthly consumer credit data shows the majority of student loan payoffs occur early and coincide with large payments and balance reductions on other student loans and revolving credit products, the Bureau of […]
The Federal Deposit Insurance Corp. (FDIC) on Friday announced an update to one chapter (IX-2.1) of its Compliance Examination Manual (CEM) regarding retail insurance sales. The update reflects changes to Part 343 of the FDIC […]
Louisville Metro Police Officers Credit Union of Louisville, Ky., became the third federally insured credit union of 2018 to be liquidated Friday, following actions earlier this year against credit unions in New Jersey and Illinois. […]
A 2018-19 cap of $20.3 trillion has been adopted by the Federal Reserve for use in limiting the consolidation of large banks and other financial companies, the central bank said in a release Friday. In […]
A savings bank in Illinois says at least five variations of counterfeit official bank checks using the bank’s correct routing number are being presented for payment nationwide in connection with various online employment opportunity scams, […]
One of the nation’s largest banks must pay $335 million in restitution for failing to reevaluate and reduce the annual percentage rates (APRs) for approximately 1.75 million consumer credit card accounts, the federal consumer financial […]
Revised resolution plan, or “living will,” guidance for the eight largest, most complex U.S. banks was released by the Federal Reserve Board and Federal Deposit Insurance Corp. (FDIC) Friday for a 60-day public comment period […]
Officials of a Moline, Ill., bank agreed to an assessment of a civil money penalty (CMP) and an order for restitution, according to the report of enforcement actions for May issued by the federal bank […]
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