Federal credit unions (FCUS) may continue to charge up to 18% interest on their loans, their federal regulator reminded them Wednesday in a letter, over the 18-month period that starts March 11. The National Credit […]
High fees through financial products that “chip away” at public benefits such as Social Security and unemployment compensation are highlighted by the federal consumer financial protection bureau in an Issue Spotlight made public Wednesday. The […]
Obtaining or attempting to obtain almost $2 million by fraud, including by stealing checks from the mail of churches and religious institutions, earned a Maryland man a conviction by a federal jury late last week, […]
Review of a “sandbox application” about consumer disclosures of a loan that finances both a construction phase and the permanent purchase of a home is in the final stages by the federal consumer financial protection […]
Net income for the nation’s banks declined in 2022 from the previous year but was still higher than the average posted by the institutions before the coronavirus crisis emerged in 2020, the federal bank deposit […]
Credit unions are facing increasing risks from rising interest rates, shallow liquidity, and threats to cybersecurity, the board chairman of their federal regulator said Monday as he outlined agency responses to assist the financial institutions […]
Calling attention to the growing use of check fraud schemes across the country, the Treasury’s top financial crimes unit Saturday issued an alert to all financial institutions warning them to be on the lookout for […]
Four new representatives of community groups and state government have joined the Federal Reserve’s council for advising the agency board on concerns of low- and moderate-income populations, the central bank said Friday. Joining the Fed’s […]
Credit quality associated with large loans originated by multiple banks improved last year, but that result does not fully reflect the impact on borrowers of rising interest rates and softening economic conditions in the second […]
Extending prohibited title loans to military families, and charging nearly three times over the 36% annual interest rate cap for some of those, has earned a Savannah, Ga., firm a $10 million penalty, and another […]
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