A civil money penalty of $9,500 was assessed against Farmers & Merchants Bank of Craig County (New Castle, Va.) this week over violations of federal flood insurance rules, according to a consent order announced Thursday […]
The “qualified mortgage” (QM) rule will be amended by moving away from the 43% debt-to-income (DTI) ratio requirement to a new threshold, according to a proposal outlined by the director of the federal consumer financial […]
Comment letters on the proposed “FedNow” digital payments system continue to be analyzed by the Federal Reserve, but the central bank governor overseeing the planned system gave no indication Wednesday when the results of that […]
A firm and its six subsidiaries that were affiliated with tribal lenders and was allegedly involved in the provision and collection on loans that violated interest rate caps and other state law requirements would pay […]
Federal Reserve Board Chair Jerome H. (“Jay”) Powell will give lawmakers an update on the central bank’s monetary policy activity during a Senate Banking Committee hearing next Wednesday, one day after giving similar testimony for […]
The cost-benefit analysis process of the federal insurer of bank deposits is “not consistent with widely recognized best practices,” and five recommendations are on the table to improve the procedures, according to a report issued […]
Seven banks whose latest Community Reinvestment Act (CRA) were made public in January received ratings of “outstanding,” and the remaining 21 were rated “satisfactory,” according to a release Wednesday by the Office of the Comptroller […]
Senior bank loan officers said they expect banks to tighten standards for most categories of business loans, credit card loans, and auto loans over the coming year, but they expect standards will be unchanged for […]
A new “coordination” agreement that provides for information sharing and the sharing of complaint data analysis, recommendations, and analytical tools regarding student loans was signed Jan. 31 by the Consumer Financial Protection Bureau (CFPB) and […]
A semiannual report of bureau activities from April 1 through Sept. 30, 2019, plus a look at areas of potential rule making was published Monday by the Consumer Financial Protection Bureau (CFPB) and is likely […]
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