Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to […]
Three banks earned “outstanding” ratings in December for their efforts to make loans in low- and moderate-income (LMI) areas, the regulator of national banks said Thursday. The banks are The First National Bank of Sparta […]
Two former credit union workers in Virginia and Georgia were the subjects of prohibition actions in December, the federal regulator said Tuesday. The actions permanently prohibit both from participating in the affairs of any federally […]
Up to 30 complex federal credit unions (FCUs) will be allowed to engage in investment activities prohibited under portions of federal rules – but permitted by statute – under a pilot program approved Monday by the […]
Once again, federal banking agencies said no action will be taken against banks or other firms that sponsor, manage, or advise investment funds and institutional accounts that become principal shareholders of banks. The agencies made […]
One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” […]
Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures […]
Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made […]
Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, […]
Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection […]
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