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[ January 17, 2025 ] Echoing FDIC appointee, Fed withdraws from international regulator group focusing on climate-change policy The Fed
[ January 17, 2025 ] Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic CFPB
[ January 17, 2025 ] Equifax hit with $15 million penalty over poor dispute handling CFPB
[ January 16, 2025 ] Cash App owner Block ordered to pay up to $175 million combined in redress, penalty CFPB
[ January 16, 2025 ] Credit union overdraft, non-sufficient funds fees not offset by reduced fees, lower rates, research finds NCUA

Regulator seeks up to $5 million restitution, penalty from former CEO of Texas credit union

April 24, 2023 0

Restitution of at least $4 million, and a civil money penalty of $1 million, is being sought from a former credit union leader for causing a substantial loss to his institution, the federal credit union […]

Agencies move to be consistent with GAAP for recognizing, measuring TDRs by creditors

April 21, 2023 0

The elimination under revised accounting rules of recognition and measurement of troubled debt restructurings (TDRs) by creditors, and removal of references to TDRs, led to issuance Friday of an interagency policy statement by the three […]

On vote of 2-1, NCUA Board issues climate-change RFI

April 21, 2023 0

A request for information (RFI) on climate-related financial risk to insured credit unions, related entities, their members, and the National Credit Union Share Insurance Fund (NCUSIF) was released by the federal credit union regulator’s board […]

Credit unions’ exposure to climate-change impacts identified in agency ‘research note’

April 19, 2023 0

A “research note” that illustrates credit unions’ exposure to climate-related physical risks – with about one-fourth of insured credit unions reportedly found to be in areas with high or very high risk of negative impacts […]

Webinar set for May 3 on simplified CECL tool for small credit unions

April 18, 2023 0

An hour-long webinar on a simplified tool to help small credit unions implement the current-expected-credit-losses (CECL) accounting standard is slated for May 3 and open for registration now, the National Credit Union Administration (NCUA) said […]

Credit union regulator to take up climate risk in Thursday’s open board meeting; briefings also slated on cybersecurity, loan-rate ceiling

April 17, 2023 0

Briefings on cybersecurity and the federal credit union (FCU) loan-rate ceiling bookend the one action item slated for Thursday’s open meeting of the federal credit union regulator’s board: a request for information and comment on […]

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Echoing FDIC appointee, Fed withdraws from international regulator group focusing on climate-change policy

January 17, 2025 0

Echoing a stance taken by another regulator earlier this week, the Federal Reserve Friday said it has withdrawn from an international group of regulatory agencies focused on climate-change policy. The Fed said that it has withdrawn from the Network of [...]
Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic

January 17, 2025 0

American Honda Finance Corporation was ordered Friday to pay $10.3 million in consumer redress plus a $2.5 million civil money penalty over findings of credit report furnishing inaccuracies and dispute investigation failures during the COVID-19 pandemic, the Consumer Financial Protection [...]
Equifax hit with $15 million penalty over poor dispute handling

January 17, 2025 0

Equifax, one of three nationwide consumer reporting agencies, was ordered Friday to pay a $15 million civil money penalty for failing to conduct proper investigations of consumer disputes. The Consumer Financial Protection Bureau (CFPB) – in a release familiar in [...]
Cash App owner Block ordered to pay up to $175 million combined in redress, penalty

January 16, 2025 0

Up to $120 million in consumer redress plus a $55 million civil money penalty (CMP) must be paid by Block, the owner of peer-to-peer payments app Cash App, under a consent order announced Thursday by the federal consumer financial protection [...]
Credit union overdraft, non-sufficient funds fees not offset by reduced fees, lower rates, research finds

January 16, 2025 0

Credit unions are not offsetting income from overdraft (OD) and non-sufficient funds (NSF) fees through reduced fees for other services or lower interest rates, according to a “research note” issued Thursday by the institutions’ federal regulator. Those results, the agency [...]
Credit union regulator gives nod to ’25 performance plan

January 16, 2025 0

A 2025 performance plan was adopted by the federal credit union regulator’s board Thursday, outlining specific methods and targets about how the agency will measure its performance. The agency board adopted the plan unanimously at its regular monthly meeting. In [...]
‘Modest’ growth in lending reported as year ended; delinquencies still a concern

January 15, 2025 0

Modest growth in lending was reported across Federal Reserve districts in late November and December, tracking what most districts called “moderate” or “modest” economic growth, according to the latest Beige Book released Wednesday by the Federal Reserve. According to the [...]

Regulator seeks up to $5 million restitution, penalty from former CEO of Texas credit union

Agencies move to be consistent with GAAP for recognizing, measuring TDRs by creditors

On vote of 2-1, NCUA Board issues climate-change RFI

Credit unions’ exposure to climate-change impacts identified in agency ‘research note’

Webinar set for May 3 on simplified CECL tool for small credit unions

Credit union regulator to take up climate risk in Thursday’s open board meeting; briefings also slated on cybersecurity, loan-rate ceiling

Hood to host NCUA capital markets symposium Tuesday at NYSE

Credit union agency to open CDRLF grant round May 1; eligibility should be reviewed first

Conserved IN credit union merged with OH credit union, NCUA announces

OCC’s Hsu takes over as exam council chair, succeeding NCUA’s Harper

Echoing FDIC appointee, Fed withdraws from international regulator group focusing on climate-change policy

Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic

Equifax hit with $15 million penalty over poor dispute handling

Cash App owner Block ordered to pay up to $175 million combined in redress, penalty

Credit union overdraft, non-sufficient funds fees not offset by reduced fees, lower rates, research finds

Credit union regulator gives nod to ’25 performance plan

‘Modest’ growth in lending reported as year ended; delinquencies still a concern