An independent auditor – Moss Adams, LLP – has been engaged to conduct a “full-scope” material loss review (MLR) of the failed Indianapolis’ Newspaper Federal Credit Union, according to a recent inspector general report to […]
The use of stablecoins deserves a look – and issuance should be broader than just that by banks and credit unions, the newest Federal Reserve Board governor indicated in a speech delivered Wednesday. Speaking via […]
There are no differences in accounting standards, and some technical differences among capital standards, among the federal banking agencies, the three regulators said in a report scheduled to be published Thursday in the Federal Register. […]
Monetary policy, inflation, and cyberattacks could heighten risk to the financial system, according to the annual report issued Wednesday by the Treasury office tasked with conducting financial research. The report also raised concerns about risks […]
An inspector general audit of the financial and award data provided to Treasury by the federal credit union regulator earned the agency an “excellent” rating for award-level data in the fourth quarter of 2020, up […]
If earlier agency communications have been interpreted as “tacit encouragement” for banks to engage in crypto activities, the next round of releases will clarify that “safety and soundness is paramount,” Acting Comptroller of the Currency […]
Enforcement actions against a Chinese bank and its New York branch, and against a former Maryland banker, were revealed Tuesday by the Federal Reserve. The Commercial Bank of China Ltd., of the People’s Republic of […]
The recently issued report on stablecoins, including recommendations that Congress address potential risks and that regulators take interim actions, was discussed Monday by federal financial institution regulators meeting as a group. Meeting virtually as the […]
A nomination confirmation hearing for Saule T. Omarova for a five-year term as comptroller of the currency – a somewhat controversial nominee – is set for Thursday by the Senate Banking Committee, according to a […]
The financial statements of the Consumer Financial Protection Bureau (CFPB) for fiscal years ending 2021 and 2020 were given an unmodified (or “clean”) audit opinion by the Government Accountability Office (GAO), according to a report […]
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