Other – Page 38 – Regulatory Report

What's up

[ January 23, 2025 ] New credit union regulator’s board chairman outlines priorities, with budgeting at top of list NCUA
[ January 21, 2025 ] Change comes from new administration with new leadership for FDIC, NCUA Boards FDIC
[ January 21, 2025 ] Another freeze on regulations ordered by Trump, pending rule review by his appointees CFPB
[ January 21, 2025 ] FDIC: Fraud suspected in connection with failed Pulaski Savings Bank, closed Friday FDIC
[ January 21, 2025 ] CFPB: TransUnion subsidiary agrees to not seek any bureau contracts for 3 years CFPB

FASB proposal moves CECL compliance deadline for privately held banks, credit unions, other smaller entities to 2023, providing 1-year extension

July 17, 2019 0

Federal financial institution regulators are likely to advise privately held banks, credit unions and others that they have one more year to comply with new “current expected credit loss” (CECL) accounting standards following a proposal […]

North Korea, Iran remain at top of list of countries with big flaws in anti-money laundering, combatting terrorism financing

July 15, 2019 0

An updated list of jurisdictions with strategic anti-money laundering (AML) and combatting financing of terrorism (CFT) deficiencies – which may affect financial institutions’ risk-based approaches and obligations – is available from the Treasury’s arm for […]

North Dakota secures one-year waiver on appraisals, with option for second year, from appraisal subcommittee

July 12, 2019 0

A one-year waiver from appraiser credentialing requirements – with an option for continuing the waiver a second year – was approved for North Dakota earlier this week, in a nod to the state’s continuing shortage […]

Final rule excludes community banks from Volcker Rule, agencies announce

July 9, 2019 0

Federal banking regulators and others on Tuesday announced a final rule – unchanged from its proposed form – that excludes community banks from Volcker Rule prohibitions and restrictions on proprietary trading and certain relationships in […]

Committee to consider bills on appraisal fees, credit scoring models, diversity at Fed Reserve banks (and the chairman’s title)

July 9, 2019 0

Legislation that aims for more flexibility in fees charged for appraisals, establishes federal consumer financial protection agency oversight in development of credit scoring models, and that mandates the title of “chair” (rather than chairman) for […]

Financial research advisory panel sets meeting to discuss LIBOR-SOFR transition, leveraged lending

June 27, 2019 0

With a new director of the Office of Financial Research (OFR) now in place (after confirmation by the Senate last week), the Treasury’s Financial Research Advisory Committee is scheduling a meeting for next month in […]

Senate says the word for new financial research director: ‘aye’ to confirmation

June 20, 2019 0

Dino Falaschetti is (finally) the next director of Treasury’s Office of Financial Research, after a voice vote by the Senate Thursday. His nomination to the post has been pending since last year. Falaschetti succeeds Richard […]

Did you say that? ‘Unprecedented’ survey seeks info on who said what in federal rule comments

June 20, 2019 0

The congressional watchdog is taking a close look at the federal rulemaking process, including by sending a first-ever survey to more than 10,000 rule commenters, the agency said Thursday. In a release, the Government Accountability […]

OFAC blocks Russian firm’s property, interests in U.S. for dealings with North Korea

June 19, 2019 0

A Russian financial organization has earned a “designation” from the U.S. government for assisting North Korea in evading sanctions to access the international financial system, the Treasury Department’s arm overseeing foreign operations announced Wednesday. The […]

Senate Banking votes Tuesday on Bowman’s renomination to new Fed Board term

June 17, 2019 0

The Senate Banking Committee is poised to vote on the president’s renomination of Michelle (“Miki”) Bowman to a new, 14-year term on the Federal Reserve Board Tuesday, just before the panel begins a hearing on […]

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New credit union regulator’s board chairman outlines priorities, with budgeting at top of list

January 23, 2025 0

Re-examining the current budgeting process for the federal credit union regulator is the top priority of the agency’s new board chairman as outlined late Wednesday in a press release. Kyle S. Hauptman, a Republican appointee who was named chairman of [...]
Change comes from new administration with new leadership for FDIC, NCUA Boards

January 21, 2025 0

Change came rapidly Tuesday to federal financial institution regulatory agencies with the new Trump administration, as at least two new leaders were named at two agencies. More changes could be coming in the days ahead. At the Federal Deposit Insurance [...]
Another freeze on regulations ordered by Trump, pending rule review by his appointees

January 21, 2025 0

No new rules – “in any manner” – may be proposed or adopted by federal regulators, including those overseeing financial institutions until those rules are reviewed and approved by an agency head appointed or designated by the new president, the [...]
FDIC: Fraud suspected in connection with failed Pulaski Savings Bank, closed Friday

January 21, 2025 0

All deposits of Pulaski Savings Bank of Chicago, Ill., were assumed by Millennium Bank of Des Plaines, Ill., under a purchase-and-assumption agreement entered into Friday by the federal bank deposit insurer to protect depositors, the agency said. “The FDIC [Federal [...]
CFPB: TransUnion subsidiary agrees to not seek any bureau contracts for 3 years

January 21, 2025 0

Argus Information and Advisory Services, a subsidiary of the nationwide consumer reporting agency TransUnion, has agreed in writing to not seek any government contract with the Consumer Financial Protection Bureau (CFPB) for three years, the bureau said Tuesday. The bureau [...]
New FDIC leader issues extensive, 15-item list of ‘matters’ he expects for agency’s focus

January 21, 2025 0

A list of 15 “matters” focusing on a range of issues that the new chairman of the Federal Deposit Insurance Corp. (FDIC) Board expects “to focus on in the coming weeks and months” was issued Tuesday by the new leader. [...]
FDIC makes good on now-acting chairman promise to resign from international regulator group focusing on climate-change policy

January 21, 2025 0

True to the word of the now-acting board chairman, the federal bank deposit insurance agency Tuesday withdrew from an international regulators’ group promoting the “greening” of the financial system. In a brief (one paragraph, two-sentence) statement, the Federal Deposit Insurance [...]