Codifying the attributes that standard-setting organizations must demonstrate to be recognized under a proposed, final “open banking” rule would be accomplished before the final rule is issued, likely this fall, the head of the federal […]
Fines of nearly $350 million were assessed against JPMorgan Chase Bank, N.A. (JPMC) Thursday related to deficiencies in the company’s trade surveillance program, including inadequacies in monitoring trading activities for market misconduct, two regulators announced […]
An “Office Hours” by the national bank regulator’s financial technology office will be held May 21-22 in San Francisco, the regulator announced Thursday. The Office of the Comptroller of the Currency (OCC) said the two-day […]
Total assets in credit unions reached $2.26 trillion at year-end 2023, their federal regulator reported Tuesday, which represented a 4.1% increase over the previous year’s growth. However, according to the National Credit Union Administration (NCUA), […]
Weak banks can – and often do – survive a financial challenge, but only if someone along the line of supervision use restraint to avoid an “unnecessary bank failure,” the vice chairman of the federal […]
Risk management requirements for certain systemically important financial market utilities (FMUs) are updated in a final rule issued by the Federal Reserve Friday. The Fed said the rule affects FMUs that are supervised by the […]
Three census products – on family income, state/county track crosswalk and a new “county to MSA” within the crosswalk – were released Thursday by the umbrella group for federal financial institution regulators. The Federal Financial […]
A delay in enforcement actions for two failed banks in 2023 by the Federal Reserve may have been caused by the agency’s procedures for moving from a “lower-level concern” to the actions, according to a […]
Note: An earlier version of this story focused on the Fed’s January Beige Book report, not the February report released Wednesday. Noting a slight increase in economic activity since January, the Federal Reserve’s February Beige […]
“Large card issuers” are now subject to a much lower safe harbor amount for penalty fees and restrictions on fees for subsequent violations to ensure that late fees they charge are “reasonable and proportional” as […]
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