The first credit union to be shuttered in 2023 was a tiny institution in New York City after its federal regulator determined it was not operating safely and soundly, the agency said late Wednesday. Inter-American […]
Four new and seven returning members to serve in 2023 on the council that advises the Federal Reserve Board on the economy, lending conditions, and other matters of interest to community depository institutions were announced […]
Credit unions saw growth in assets, savings and – especially – loans last year, but also saw their return on average assets fall and experienced greater delinquencies and charge-offs from the year before, according to […]
Loan demand declined, credit standards tightened, and delinquency rates edged up at financial institutions in the second month of the year, according to the Federal Reserve’s district-by-district report of current economic conditions released Wednesday. According […]
The consumer financial protection agency on Wednesday suggested its work focusing on surprise overdraft fees has led to “at least 20” of the largest banks in the country to no longer charge such fees and […]
“Earned wage access” products need clarification as to whether they are subject to truth-in-lending disclosures, the congressional watchdog said in a report issued Wednesday. The Government Accountability Office (GAO) said its report found that the […]
An information-sharing agreement aimed at alleged practices that harm workers in the “gig economy” was announced Tuesday by the federal labor relations and consumer financial protection agencies. According to the Consumer Financial Protection Bureau (CFPB) […]
Registration is open now for a March 22 webinar hosted by the National Credit Union Administration, the agency said Tuesday. Titled “Loan Risks in a Changing Economy,” the 2 p.m. (Eastern) webinar will feature a […]
Risks remain on the horizon for the banking industry, the result of trends developed during the coronavirus, despite strong performance and the low number of problem banks and failures, the board chairman for the federal […]
It’s important that central banks and other regulators ensure that regulations and market oversight foster prudent financial institution behavior and resiliency in core financial markets, a Federal Reserve Board governor said Friday. In remarks before […]
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