A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday […]
Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National […]
The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was […]
Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer […]
An alert to help financial institutions identify fraud schemes targeting them and that are associated with the use of deepfake media created with generative artificial intelligence (GenAI) tools was issued Wednesday by Treasury’s financial crimes […]
Two long-time bank examiners – Robert Barnes and Kevin Greenfield – were promoted to the posts of deputy comptrollers for large bank supervision, the Office of the Comptroller of the Currency (OCC) said Wednesday. The […]
A “consensus” on how to investigate allegations of alleged sexual harassment misconduct by executives of the federal insurer of bank deposits was reportedly reached by the agency’s board during a closed, non-public meeting Tuesday, a […]
Numerous states’ deference to federal law regarding consumer personal financial-data protections has left gaps in protections for financial data and financial products and services, according to a report released Tuesday by the Consumer Financial Protection […]
A record low 5.6 million households nationwide remain unbanked, the federal insurer of bank deposits said Tuesday, reporting that its latest survey shows nearly 96% of all households were, in fact, banked. According to the […]
When it comes to a central bank digital currency (CBDC), count Federal Reserve Board Gov. Christopher Waller – the payments chair at the Fed – as a continued skeptic, hearing “no satisfactory answer” to the […]
Copyright (c) 2022, RegReport.info; Contact: editor@regreport.info