A judgment for redress of $18 million, and fines totaling $450,000, have been proposed for a California mortgage lender to pay for unlawfully obtaining consumer reports that led to deceptive marketing of services and charging […]
Financial conditions changed dramatically for people who experienced job loss or reduced hours during March 2020 as the spread of COVID-19 intensified in the United States, according to a report issued Thursday by the Federal […]
A Texas man has been charged with filing phony applications seeking loans of up to $13 million under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) – at least the second case in which […]
Creditors that take longer than required by Regulation Z to resolve an open-end credit account billing error notice will not be cited for a violation in an examination or face an enforcement action if it […]
The federal regulator of credit unions will consider three issues related to its rules and regulations at its next regularly scheduled meeting May 21, focusing on joint ownership of share accounts, overdraft policy, and prompt […]
The agency’s oversight of credit union service organizations (CUSOs) and other third-party providers is one of four areas currently under audit by the agency’s inspector general’s office and noted in the IG’s last semiannual report […]
Eligible low-income credit unions have until May 22 to apply for Community Development Revolving Loan Fund (CDRLF) grants to meet their needs and needs of their members during the COVID-19 pandemic, the federal credit union […]
Temporary reductions by 1% in the capital levels at which credit unions would qualify as adequately and well-capitalized, to provide the institutions a measure of relief during the pandemic, were among the recommendations made to […]
While the Federal Reserve has already taken “timely and appropriately large” responses to the economy’s free fall in the wake the coronavirus crisis, there may be more to come, the chair of the Federal Reserve […]
Title: Assessments, Mitigating the Deposit Insurance Assessment Effect of Participation in the Paycheck Protection Program (PPP), the PPP Lending Facility, and the Money Market Mutual Fund Liquidity Facility Subject: Deposit insurance Agency: FDIC Status: Proposed […]
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