COVID-19 actions – Page 26 – Regulatory Report

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

Banking agencies jointly encourage use of discount window in support of households, businesses in warding off coronavirus impact

March 16, 2020 0

Use of the Federal Reserve’s discount window to continue supporting households and businesses in the face of the spreading coronavirus was encouraged in a statement issued Monday by all three of the federal banking agencies, […]

Powell: Banks plan to take up Fed’s offer on capital buffers by extending credit to stanch financial impact of coronavirus

March 15, 2020 0

Banks have every intention of using their capital buffers to provide more credit, and to work with borrowers, in the face of the coronavirus financial crisis, the chair of the Federal Reserve said Sunday.’ In […]

Fed sets 0% reserve requirement ratio, urges banks to use capital, liquidity buffers to bolster lending in face of coronavirus

March 15, 2020 0

Reserve requirement ratios will drop to 0% effective March 26, the Federal Reserve said Sunday, as it announced a series of actions to encourage financial institutions to step up the availability of credit in the […]

Fed, other central banks announce moves to bolster liquidity; FOMC cuts fed funds to range of 0-0.25%

March 15, 2020 0

The U.S. joined central banks of Canada, England, Japan, Europe, and Switzerland Sunday to announce coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. Under this action, […]

UPDATED: House committee chair seeks info from Treasury, financial regulators, trade groups about coronavirus response

March 12, 2020 0

House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and the panel’s task force and subcommittee chairs are is pushing Treasury, financial regulators, financial trades and consumer reporting agencies for action and information on the steps […]

FDIC, OCC post special web pages with coronavirus info

March 12, 2020 0

The federal agencies that charter and insure the nation’s banks and savings institutions have both created website pages with links to federal guidance issued so far to financial institutions, and more, regarding the coronavirus known […]

FDIC holds open meeting Tuesday, but coronavirus concerns mean public to view online only

March 11, 2020 0

An open meeting of the Federal Deposit Insurance Corp. (FDIC) Board next Tuesday will include board action on a proposal related to parent companies of industrial banks and industrial loan companies – the only topic to […]

Report: Travel restrictions due to coronavirus push bureau to cancel series of advisory group meetings

March 11, 2020 0

Advisory council and board meetings previously scheduled to begin Wednesday have been canceled by the federal consumer financial protection agency, the agency said on its website. According to reports, the Consumer Financial Protection Bureau (CFPB) […]

Regulators’ group gathers for rare call to discuss impact on markets, economy of coronavirus

March 10, 2020 0

Federal financial regulators joined in a conference call Tuesday with the Treasury secretary to discuss recent market conditions and activity related to the economic impact of the spread of the coronavirus, the Treasury Department said. […]

In joint statement, regulators urge financials to work constructively with customers in areas affected by coronavirus

March 9, 2020 0

Financial institutions should work constructively with borrowers and other customers in communities affected by coronavirus outbreaks, federal financial regulators and their state counterparts said in a joint statement issued Monday. The five federal financial regulatory […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

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 agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]