Frequently asked questions (FAQs) about escrow accounts in mortgage servicing were made public Thursday by the federal consumer financial protection agency, concerning compliance under Regulations X and Z (Real Estate Settlement Procedures Act [RESPA] and […]
Steps that should be taken now and through the rest of the year by those with exposure to soon-to-be-defunct LIBOR are outlined in a “roadmap” issued Wednesday by an international group of financial regulators. In […]
A “new and comprehensive” set of rules – but whose concepts are like existing regulations – to govern the Federal Reserve’s new round-the-clock instant payments service was proposed Tuesday by the agency. According to the […]
A single interest on reserve balances (IORB) rate will replace two former rates under a final rule amending Regulation D announced Tuesday by the Federal Reserve. The rule takes effect July 29; it contains no […]
Credit unions should ensure their policies, procedures, and training materials promote compliance with federal equal credit opportunity laws and Regulation B, which is administered by the federal consumer financial protection agency, in line with a […]
Use of alternative data at financial institutions, particularly with banks that have third-party relationships with financial technology (fintech) lenders, should be the focus of collaboration among federal financial institution regulators – with a focus on […]
Submissions are due by July 31 for summary of branch office deposits submissions, the annual survey of deposits for banks with branch offices, including insured foreign banks; no filing extensions are granted, the federal insurer […]
Violations of federal flood insurance requirements will cost a San Francisco-based bank $281,000 for failing to tell a borrower it needed the insurance for property it was purchasing through a loan from the bank, the […]
Modifying the policy on payment system risk (PSR) to expand access to collateralized capacity and clarifying terms for accessing and retaining uncollateralized capacity were proposed by the Federal Reserve Friday. The PSR governs the provision […]
Alleged deceptive deposit and loan products have caused a Florida lending company and its CEO to face a $1 million refund to depositors, the federal consumer financial protection agency said Thursday. The Consumer Financial Protection […]
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