The “Main Street Lending” (MSL) program has attracted involvement from financial institutions representing more than half of all banking assets – but fewer than 600 banks total – and has so far issued loans amounting […]
Time to accommodate the Yom Kippur Jewish holiday is being allocated to collect comments on a new category of qualified mortgages, the federal consumer financial protection agency said Monday, with the new comments due date […]
The acting head of the Office of the Comptroller of the Currency (OCC) on Monday welcomed the Federal Reserve’s “joining us” in recognizing the need to “improve upon a system that was not working” through […]
Consumer redress of more than $1.3 million to 4,000 harmed consumers – and a $100,000 civil money penalty (CMP) – are portions of a settlement reached with an auto-loan servicer charged with engaging in unfair […]
Settlements with a trio of former senior executives of Wells Fargo Bank for their roles in systemic sales practices misconduct by the banks – totaling nearly $1.7 million in civil money penalties (CMPs) – were […]
An advance notice of proposed rulemaking for an “approach” to modernization of rules implementing the anti-redlining Community Reinvestment Act (CRA) was released by the Federal Reserve Board during its open meeting Monday by unanimous vote […]
A Texas man was charged late last week with defrauding a bank and making false statements to a financial institution after allegedly lying about his movie company’s payroll expenses and obtaining $1.2 million in Paycheck […]
Building a foundation for convergence on a consistent approach to strengthening anti-redlining rules among the federal banking agencies is the intention of the Federal Reserve in issuing a notice of proposed rulemaking on the subject, […]
Banks are encouraged to work with struggling borrowers having difficulties because of wildfires and straight-line winds in areas of Oregon and can receive Community Reinvestment Act (CRA) credit for certain activities there, the Federal Deposit […]
Credit unions were encouraged by their federal regulator Friday to sign up for a BSA Coalition webinar slated next Thursday on potential regulatory changes and “status of initiatives in 2020.” The BSA Coalition describes itself […]
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