Fraudulently obtaining more than $2.5 million in Paycheck Protection Program (PPP) loans has earned a Virginia man an arrest on charges of bank fraud, law enforcement authorities said Tuesday. In a release, the U.S. Attorney […]
Economic activity is increasing across the country, but a “considerable degree of uncertainty” for the future outlook is prevalent in many areas, according to the latest snapshot of economic activity released Wednesday by the Federal […]
Challenges facing low- to moderate-income (LMI) and minority renters and would-be homeowners underscore the importance of getting modernization of anti-redlining laws right, the point person for the Federal Reserve’s efforts on the issue said Tuesday. […]
A consent order to cease and desist has been executed with a bank employee of First Savings Bank, Jefferson, Ind., related to that individual’s supervision of the bank’s loan production office in Louisville, Ky., according […]
A Financial Stability Board (FSB) report to the G20 Summit next month will give a diagnosis of the financial stability shock related to the coronavirus (COVID-19) pandemic and identify areas for possible policy action, including […]
The so-called government-sponsored enterprise (GSE) patch – giving mortgages guaranteed by Freddie Mac and Fannie Mae “qualified mortgage” (QM) status – will be extended until a final rule is approved amending the general QM loan […]
The board of the federal insurer of bank deposits on split votes issued two final rules, and also issued an interim final rule Tuesday, including a regulation on bank liquidity that aims to ensure that […]
A $60 million civil money penalty was assessed against the founder, administrator, and primary operator of Helix and Coin Ninja – convertible virtual currency “mixers” or “tumblers” – by the Financial Crimes Enforcement Network (FinCEN) […]
Longstanding capital and asset quality issues going back more than 10 years were the underlying reasons for a Florida bank becoming the third to fail so far in 2020, the federal insurer of bank deposits […]
The advance notice of proposed rulemaking intended to modernize the Federal Reserve’s Community Reinvestment Act (CRA) rules will also make provisions focused on minority depository institutions (MDIs) more prominent and clear, the Fed’s vice chair […]
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