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 […]
Flexibility for board meetings originally extended to federal credit unions during the height of the coronavirus crisis will be extended in the new year, the institutions’ regulator said Monday. In Letter to Credit Unions (LTCU) […]
The threshold adjusts to 200 open-end lines of credit for reporting mortgage disclosure data at the start of the new year, the federal consumer financial protection agency reminded Friday. In a publicly released letter, the […]
Allegations of Military Lending Act (MLA) violations by pawn lenders First Cash, Inc., and its wholly owned subsidiary Cash America West, Inc., are at the root of a lawsuit filed Friday by the Consumer Financial […]
A final rule on credit union membership eligibility requirements for shared facilities is among the items up for consideration during the Nov. 18 National Credit Union Administration (NCUA) open board meeting, according to the agenda […]
Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]
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