Approval for a so-called “earned wage access” program was rescinded Thursday by the federal consumer financial protection agency after the firm that developed the program requested the rescission to make changes to its fee model, […]
Pre-examination planning and communications of exam findings are among the sections that have been updated in the consumer compliance examination manual (CEM) issued by the federal bank deposit insurance agency, the agency said Wednesday. According […]
Reducing so-called “junk fees” – specifically “pay to pay” charges by debt collectors – is the aim of an advisory opinion issued by the federal consumer financial protection agency, it said Wednesday. According to the […]
More than $1.7 billion is available for grants to credit unions and other financial institutions designated as community development financial institutions (CDFIs) to help communities recovering from the coronavirus pandemic if the institutions apply by […]
The implications for financial stability and asset prices – including that firms’ large cash holdings can lead to mismeasuring risk – are addressed in a working paper on cash-hedged stock returns, published Tuesday by the […]
Banks and other financial institutions should be “vigilant” against efforts by those attempting to evade export controls in connection with Russia’s further invasion of Ukraine, two federal agencies said in an alert issued Tuesday. In […]
States can protect residents through their own fair credit reporting laws by enacting laws that are stricter than the Fair Credit Reporting Act (FCRA), the federal consumer financial protection agency said Tuesday in issuing an […]
Thirty-five new and returning high school students from 11 Washington, D.C., high schools will be hosted this year through a high school scholar internship program, the regulator of national banks said Monday. The Office of […]
In just less than three years, the new message format for the Federal Reserve’s credit transfer service – Fedwire Funds Service – will take effect on a single day, not over three separate phases, the […]
Nearly 97% of mortgages were current and performing at the end of the first quarter of this year at federal banks and savings associations, up more than two percentage points from the same time a […]
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