New Day Financial, also known as NewDay USA, was fined $2.25 million Thursday over deceptive activities targeting veterans seeking cash-out refinance loans, the federal agency charged with consumer financial protection said. The Consumer Financial Protection […]
A former teller of Magnifi Financial Credit Union, Melrose, Minn., who pled guilty to one count of felony theft this March has been prohibited from any future work in a federally insured financial institution, the […]
A booklet updating principles and practices that examiners review to assess a bank or other entity for managing development, acquisition, and maintenance (DA&M) of information technology was released Thursday by the umbrella group for federal […]
A plan for dealing with accountability over sexual harassment allegations at the federal bank deposit insurance agency was approved by a 3-2 vote of the agency’s board late Wednesday – leading to dueling statements from […]
The minimum capital requirement for large banks again will be 4.5%, with a stress capital buffer requirement of at least 2.5%, the Federal Reserve said late Wednesday. The requirements are effective Oct. 1. This the […]
A voluntary cybersecurity assessment tool will “sunset” in about one year after 10 years of use, the umbrella group for federal financial institution regulators said Thursday. The Federal Financial Institutions Examination Council (FFIEC) said it […]
A pair of rules intended to safeguard the residential real estate and investment adviser sectors from unlawful finance by addressing “critical vulnerabilities in the U.S. financial system and to protect national security” were announced Wednesday […]
The temporary interest rate ceiling of 18% for loans made by federal credit unions (FCUs) will run through March 10, 2026, the federal credit union regulator reminded in a letter issued Tuesday. The National Credit […]
Three out of the eight major retail chains included in a sample reviewed by the federal consumer financial protection agency were found to charge “cash back” fees at the register, a practice that the agency […]
A beta platform for testing the collection of small business data mandated by federal requirements was unveiled Monday by the federal consumer financial protection agency, which invited financial institutions and their technology service providers to […]
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