Banks’ net income declined $17 billion to $59.7 billion in the first quarter of 2022, a 22.2% drop from the same time a year ago, with growth in provision expense driving that 12-month decline, the […]
Jerome. H. (“Jay”) Powell and Lael Brainard were sworn in Monday to terms as chair and vice chair of the Federal Reserve Board Monday, the Fed announced, noting also the swearing in of Lisa D. […]
The president’s renomination of Todd M. Harper to a full term on the National Credit Union Administration (NCUA) Board appears to be nearing a Senate vote this week under a unanimous consent agreement – a […]
The federal consumer financial protection agency’s Consumer Advisory Board (CAB) is set to meet publicly June 8, according to a notice scheduled for publication Tuesday in the Federal Register. The CAB, which last met on […]
A debt collection enterprise based in upstate New York and charged two years ago for lying to and harassing consumers would be required to exit the debt collection market, pay $4 million in civil money […]
A six-month report to Congress by the inspector general of the federal agency that charters and regulates credit unions gives a few details of the circumstances surrounding three credit union liquidations conducted from last December […]
Revised guidelines that restore the federal bank deposit insurer’s independent, intra-agency appeals process to review material supervisory determinations regarding supervised banks are out for public comment until June 21, according to a Federal Register notice […]
Title: Guidelines for Appeals of Material Supervisory Determinations Subject: Supervisory appeals Agency: FDIC Status: Notice and request for comment Summary: On May 17, 2022, the Federal Deposit Insurance Corporation (FDIC) adopted revised Guidelines for Appeals […]
A Financial Institution Letter (FIL) establishing the process for an insured banking institution or applicant for deposit insurance to request recognition by the federal bank deposit insurer as a minority depository institution (MDI) was announced […]
A final rule issued Thursday governing funds transfers over the Federal Reserve Banks’ FedNow℠ settlement service will take effect in the first quarter following its publication in the Federal Register, according to the draft notice. […]
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