FDIC
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The Fed
Actions against 10 big banks terminated – but five pay penalties totaling $35 million
Penalties of $35 million were assessed against five big banking organizations for mortgage servicing deficiencies, the Federal Reserve said Friday, while at the same time the central bank terminated enforcement actions against those institutions and […]
The Fed
Senate Banking Committee sets new vote for Powell, another vote for Quarles
The Senate Banking Committee will vote Wednesday (Jan. 17 at 10 a.m.) on the nomination of Jerome H. Powell to be Federal Reserve Board chairman and on Randal Quarles for reappointment as a member of the board. […]
The Fed
Fed unveils new tools for visualizing household wealth, other key financial stats
New tools for accessing data about aggregate wealth of U.S. households and other economic sectors, using “data visualization,” were unveiled by the Federal Reserve Thursday. The three new tools, the Fed said, show at a […]
CFPB
Mulvaney remains on the job after court rejects latest challenge
Acting Director Mick Mulvaney will remain on post at the Consumer Financial Protection Bureau (CFPB), at least for the near future, following a court’s rejection Wednesday of a request to remove him. The White House […]
CFPB
Pre-Mulvaney bureau agenda cites proposed rules ahead on overdraft protection, debt collections
Rules on overdraft protection and communications in debt collections, as well as efforts to identify and relieve regulatory burden for financial services providers and small businesses, are all on the agenda prepared for the remainder […]
Legislation
Opinions vary in testimony for reforms, revisions to structure of central bank
Opinions were split on how the Federal Reserve can (or should) be reformed during testimony before a House subcommittee, in consideration of several bills proposing changes to the central bank. The hearing before the House […]
The Fed
Fed appoints four new chairs/deputies for Reserve Banks; retaps leaders in eight more
New leadership for four Federal Reserve banks was announced by the Fed Board for 2018 Wednesday, with leaders in eight other banks reappointed, the central bank said. The Fed Board each year designates the chair […]
The Fed
Proposed guidance would complement rating system for $50B and higher financial institutions
Core principles of effective senior management, board oversight, the management of business lines, and independent risk management and controls for banks and savings institutions with $50 billion or more in assets are outlined in guidance […]
Legislation
More ‘reg relief’ earns praise from banker, concern from consumer advocate
Proposed “regulatory relief” legislation in the House won ringing endorsements from a banker, while a consumer advocate took a less complimentary view of the proposals, during testimony Tuesday before a House subcommittee. The hearing in […]