A “principles-based” overview of the federal bank deposit insurance agency’s administration of its responsibilities under the Bank Merger Act (BMA) is proposed in a new policy statement issued for comment on a split vote Thursday. […]
Two more top executives at a Southfield, Mich., bank received civil money penalties – totaling $270,000 – and were prohibited from future service at federally insured financial institutions, the regulator of national banks said in […]
Alleged false and misleading statements about federal bank deposit insurance coverage have earned three companies and others cease-and-desist demands from the insurance agency, it said Tuesday. PrizePool, Inc. (PrizePool), AmeriStar, LLC (AmeriStar), and HighLine Gold, […]
A broker-dealer must comply with certain requirements of customer identification program (CIP) and customer due diligence (CDD) regulations when distributing to a beneficiary of an individual retirement account (IRA) funds inherited as part of a […]
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 […]
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 […]
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