A $37.5 million fine for allegedly illegally exploiting customers’ personal data to open sham accounts for unsuspecting customers was announced Thursday against the fifth-largest U.S. bank by the federal consumer financial protection agency. The Consumer […]
Comments on a proposal to include modifications to borrowers experiencing financial difficulty – formerly called troubled debt restructurings (TDRs) by the accounting industry – in the underperforming assets ratio and higher-risk assets ratio for purposes […]
Title: Assessments, Amendments To Incorporate Troubled Debt Restructuring Accounting Standards Update Subject: Deposit insurance Agency: FDIC Status: Final rule Summary: The Federal Deposit Insurance Corporation is adopting a final rule that incorporates updated accounting standards […]
The rise of interest rates has, as yet, had little impact on financial stability, especially as the banking system remains well capitalized, the chair of the Federal Reserve Board indicated Wednesday. Speaking to reporters after […]
Consumer credit reporting companies’ changes to medical debt collection reporting, announced in March, will remove some but not all medical debt collections and will leave nearly half of consumers still seeing such collections on their […]
Increased interest from banks and other stakeholders in working with minority depository institutions (MDIs) has led the national bank regulator to update and streamline its policies, procedures and programs, the agency said in a statement […]
A fine of more than $22 million has been assessed against a Delaware mortgage company for alleged intentional discrimination against families living in mostly minority Philadelphia neighborhoods, the federal consumer financial protection agency said Wednesday. […]
A fine of $19 million has been ordered against a Korean auto manufacturer-owned finance company for “repeatedly providing inaccurate information to nationwide credit reporting companies” and failing to address the bad information once it was […]
Bank trust department policies and other areas are the subjects of an update to an examination risk management manual issued by the federal bank deposit insurer Tuesday. According to the Federal Deposit Insurance Corp. (FDIC), […]
Two chapters of an agency enforcement action manual that provides guidance to its staff on terminations of cease-and-desist (C&D) and consent orders have been updated by the Federal Deposit Insurance Corp. (FDIC), the agency announced […]
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