Federally insured credit unions (FICUs) will be able to phase in over a three-year period the day-one adverse impacts on net worth of the current-expected-credit-loss (CECL) accounting standard under a final rule approved Thursday by […]
The loan interest rate ceiling for loans by federal credit unions will remain at 18% through March 10, 2023, under action taken by unanimous vote Thursday by the National Credit Union Administration (NCUA) Board – […]
An initiative of the nation’s central bank to glean feedback from groups and communities that has informed its policy discussions will continue in 2021, focusing on input from individuals, households, and communities about the economic […]
Title: Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents Subject: MLA examinations Agency: CFPB Status: Interpretive ruleProposed rule Summary: The Bureau of Consumer Financial Protection (Bureau) has statutory authority to conduct examinations, at […]
An interpretive rule explaining the consumer financial protection agency’s authority to examine financial institutions for compliance with the Military Lending Act (MLA), which confers specific consumer financial protections for active-duty military servicemembers and their families, […]
A notice of prohibition, four consent prohibition orders and an $18,000 civil money penalty (CMP) assessment were executed in May and early June by the Office of the Comptroller of the Currency (OCC), according to […]
The agency’s second-ever Diversity, Equity, and Inclusion (DEI) Summit for credit union leaders, trade and support organizations and professionals in the field will be held virtually on Nov. 2-4, the National Credit Union Administration (NCUA) […]
Updates to four sections of the Bank Secrecy Act/anti-money laundering (BSA/AML) examination manual for financial institution examiners were announced Monday by the federal financial institution regulators’ umbrella examination council. The manual, published by the Federal […]
Final rules on the current expected credit loss methodology and capitalization of interest, and action on the federal credit union (FCU) loan interest rate ceiling, are on the agenda for the June 24 open meeting […]
New delinquencies for auto loans and credit cards began to rise somewhat in the second half of 2020 but remained at or below pre-pandemic levels as of March 2021, the consumer financial protection agency said […]
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