Fourteen banks were rated “outstanding” for their compliance with the anti-redlining Community Reinvestment Act (CRA), and 25 were deemed “satisfactory,” the Office of the Comptroller of the Currency (OCC) said in announcing CRA ratings made […]
Title: Assessments, Amendments To Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses Methodology Subject: Deposit insurance; CECL Agency: FDIC Status: Final rule Summary: […]
A proposed change to the federal deposit insurance assessment system for banks that would eliminate the double counting of some optional portions of capital related to the transition to the current expected credit losses (CECL) […]
Zero reserve requirements remain in effect for all depository institutions, but the Federal Reserve nevertheless on Monday announced the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2021 under […]
Nationstar Mortgage, LLC, would be required to pay about $73 million in redress and a civil money penalty of $1.5 million under a complaint and proposed stipulated order filed Monday by the Consumer Financial Protection […]
Following up on plans announced in the wake of reported ethics failings by former staffers, the National Credit Union Administration (NCUA) on Monday announced it has selected Elizabeth J. Fischmann as its first chief ethics […]
Of the 58 banks whose Community Reinvestment Act (CRA) ratings were assigned by the Federal Deposit Insurance Corp. (FDIC) in September, all received ratings of “satisfactory” except for four: one rated for “substantial noncompliance” and […]
An injunction, damages, redress to consumers, disgorgement of ill-gotten gains, and the imposition of civil money penalties against LendUp Loans LLC are sought in a suit filed Friday by the Consumer Financial Protection Bureau (CFPB) […]
Federally insured credit unions (FICUs) saw total assets grow $37.8 billion, or 2.2%, to a total of $1.79 trillion in the quarter ending Sept. 30 and reported $11 billion in net income, according to data […]
A pledge to develop partnerships with minority depository institutions is being promoted to all large and midsize banks by the agency that charters and supervises national banks and federal savings associations. The Office of the […]
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