The “normal operating level” (NOL) – or target equity ratio – for the federal fund that insures depositors’ money in credit unions will drop five basis points, from 1.38% to 1.33%, as of Jan. 1 […]
Regulators should take appropriate actions within their jurisdictions to address risks associated with digital assets like stablecoins, as outlined in a recent report, while continuing to coordinate and collaborate on issues of common interest, the […]
Three final rules were approved Thursday, by unanimous votes, to authorize federal credit unions’ (FCUs) purchase of mortgage servicing assets (MSAs) from other insured credit unions, create a complex credit union liquidity ratio (CCULR) framework, […]
The asset-size thresholds used to define a “small bank” and “intermediate small bank” under federal anti-redlining Community Reinvestment Act (CRA) regulations will rise for 2022 based on changes in the consumer price index. With the […]
A set of guidelines aimed at clarifying federally insured credit unions’ (FICUs) authority to establish relationships with third-party providers that offer digital asset services to their members – along with key safety and soundness considerations […]
Civil money penalties totaling $8 million are to be paid by CommunityBank of Texas, N.A., over violations of the Bank Secrecy Act (BSA) and implementing rules, according to consent orders announced Thursday by Treasury’s financial […]
The charter for the Federal Deposit Insurance Corp.’s (FDIC) Advisory Committee of State Regulators (ACSR), first established in 2019, has been renewed for another two years, according to the agency. The FDIC had a notice […]
Risks to financial stability in the current economy were downplayed by Federal Reserve Board Chair Jerome H. (“Jay”) Powell during a press conference Wednesday, as he asserted that the four components of stability were generally […]
Title: Review of Bank Secrecy Act Regulations and Guidance Subject: AML/CFT modernization Agency: FinCEN Status: Request for information and comment Summary: The Financial Crimes Enforcement Network (FinCEN) is issuing this request for information (RFI) to […]
An application released in October to facilitate credit unions’ self-testing of their cybersecurity preparedness costs nothing and can be downloaded via the agency’s website, the agency said in a letter Wednesday to insured credit unions. […]
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