A call for legislation creating a framework providing for issuance of stablecoins by federally insured depository institutions only – both to help preserve financial system stability and close an avenue for illicit finance – was […]
Red flags to assist in identification of suspected evasion of sanctions implemented in connection with the Russian invasion of Ukraine are highlighted in an alert issued Monday by the Treasury Department’s top financial law enforcement […]
Regulators’ efforts aimed at increasing banking access to low-income, less-educated, and minority households should include performance measures to determine their effectiveness, the congressional watchdog recommended Monday. In a report, the Government Accountability Office (GAO) said […]
Credit unions posted solid financial results for 2021 with return on average assets (ROAA) and net worth both exceeding the numbers posted the previous year, the federal credit union regulator said Monday. In releasing fourth-quarter […]
Empire Financial Federal Credit Union (FCU) of New York, N.Y., a tiny credit union that last reported about $5.12 million in assets and 270 members, on Friday became the first federally insured credit union liquidated […]
The federal regulator of national banks has selected Amanda Freedle to be its next deputy comptroller and chief accountant, effective March 28, the agency announced Friday. Freedle, in her new role, will lead the Office […]
Six new members of the Federal Reserve Board’s Community Advisory Council (CAC), appointed to three-year terms, were announced by the Fed Friday. The CAC includes experts and representatives of consumer, workforce, and community development organizations […]
Five banks earned “outstanding” Community Reinvestment Act (CRA) ratings – but one bank earned a “needs improvement” score – in evaluation ratings issued Friday by the federal insurer of bank deposits. The Federal Deposit Insurance Corp. […]
Title: Bulletin 2022-04: Mitigating Harm From Repossession of Automobiles Subject: Auto repos Agency: CFPB Status: Compliance Bulletin 2022-04 Summary: The Consumer Financial Protection Bureau (Bureau or CFPB) is issuing this Compliance Bulletin regarding repossession of […]
A proposal raising from $10 billion to $15 billion the asset size of certain federally insured credit unions (FICUs) whose supervision is handled by an office assigned to large, complex institutions is out for public […]
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