A Financial Institution Letter (FIL) establishing the process for an insured banking institution or applicant for deposit insurance to request recognition by the federal bank deposit insurer as a minority depository institution (MDI) was announced […]
Oversight of third-party vendors would be granted to the federal credit union regulator under legislation approved by a House committee Wednesday, spurring the leader of the agency to praise the move. The House Financial Services […]
A final rule issued Thursday governing funds transfers over the Federal Reserve Banks’ FedNow℠ settlement service will take effect in the first quarter following its publication in the Federal Register, according to the draft notice. […]
A cease-and-desist (C&D) order first imposed in 2012 against Citibank for deficiencies in its anti-money laundering/Bank Secrecy Act (AML/BSA) compliance has been terminated, the regulator of national banks said Thursday. In a press release, the […]
States’ broad authorities to enforce federal consumer financial protections are affirmed in an interpretive rule issued Thursday by the federal Consumer Financial Protection Bureau (CFPB) and set to take effect upon publication in the Federal […]
A joint public meeting on a proposal by Bank of Montreal, Montreal, Canada, and BMO Harris Bank National Association, Chicago, Ill., to acquire BancWest Holding Inc. and Bank of the West, both of San Francisco, […]
The acquisition of a Tennessee bank by a Toronto institution will be the subject of a virtual joint hearing Aug. 28 by the regulator of national banks and the Federal Reserve, the agencies said Tuesday. […]
Title: Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements Subject: ECOA; unfavorable changes to credit terms Agency: CFPB Status: Advisory opinion Summary: The Consumer Financial Protection Bureau […]
A Hawaiian banker is joining the minority depository institution advisory panel for the federal insurer of bank deposits, the agency said Wednesday. Russell Lau, chairman and chief executive officer of Finance Factors Ltd. in Honolulu, […]
A compliance guide related to a rule designed to simplify federal bank deposit insurance rules for trust and mortgage service accounts at small entities was released Wednesday by the federal agency that provides the insurance. […]
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