Leadership
Month: September 2021
NCUA
4 former credit union employees barred from future FI service
Four former employees of credit unions in North Carolina, Pennsylvania, Florida, and New Jersey were barred from future service in any federally insured financial institution under orders announced Thursday by the federal regulator of credit […]
NCUA
Expanding credit union regulator board finds room for discussion at hearing
Should the board for the federal credit union regulator be expanded? At least one Republican senator thinks that’s a worthwhile idea – and the Democratic-nominated chairman of the agency board did not outright reject the […]
CFPB
Senate, voting 50-48, confirms Chopra to five-year term as CFPB director
The Senate on Thursday confirmed Rohit Chopra to a five-year term as director of the Consumer Financial Protection Bureau (CFPB) on a straight, party-line vote of 50-48. Chopra, nominated to the bureau post in February […]
CFPB
CFPB: Credit card debt dropped, digital engagement rose during pandemic; bureau looking to issuers for continued service improvements
Growth in the consumer credit card market in recent years reversed itself in 2020, with credit card debt falling to $811 billion by the second quarter of 2020 from a 2019 peak of $926 billion […]
NCUA
Alert puts credit unions on notice: submissions to CFPB’s ‘Collect’ website can be made now (and note those deadlines)
Credit unions may begin submitting data on credit card agreements with their members, and applying data submission requirements, to the federal consumer financial protection agency’s website for collecting credit card information, the National Credit Union […]
OCC
Mortgage performance up in second quarter, OCC reports
A report covering 23% of all residential mortgage debt outstanding showed that 95% of loans were current and performing at the end of the second quarter of this year, up from 91.1% at the end […]
The Fed
Cyber security is most significant, potential risk facing financial system, Powell tells panel
Cyber risk is the most significant threat to the banking industry, the leader of the Federal Reserve Board told a Senate committee Tuesday. In testimony over the impact of Federal Reserve and Treasury actions to […]
The Fed
Fed pursuing initiative on how changes in tech, analytics, customer preferences affect supervision
Changes in technology, analytical capabilities, and customer and workforce preferences are spurring an initiative at the Federal Reserve to investigate the implications of those changes for the agency’s supervision function, a governor of the Fed […]
NCUA
Subordinated Debt
Title: Subordinated Debt Subject: Subordinated debt; secondary capital Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending the Subordinated Debt rule, which the Board finalized in December 2020 with an effective date […]