A new rule requiring lenders to collect and report information about the small business credit applications they receive, including geographic and demographic data, lending decisions, and the price of credit, was finalized Thursday by the […]
Fines of nearly $98 million were assessed against the holding company of Wells Fargo bank Thursday for its “historical inadequate oversight of sanctions compliance risks” which resulted in more than $530 million in prohibited transactions […]
All credit unions with more than $54 million in assets will be required to collect data associated with mortgage loan applications processed in 2023, the federal credit union regulator said Thursday. In a “regulatory alert” […]
A new Office of Financial Technology, as well as the leader of that new department, was announced Thursday by the regulator of national banks. The new office, which the Office of the Comptroller of the […]
Revised rules implementing anti-redlining statutes will “support more impactful bank lending, investing, and services in today’s banking environment,” the Federal Reserve’s top supervisor said Wednesday – but he gave no date for when those rules […]
Instructions and guidance for submitting first-quarter 2023 bank call report data are provided with a Financial Institution Letter (FIL) issued Wednesday by the Federal Deposit Insurance Corp. (FDIC). The call reports, covering the period from […]
A proposal issued Feb. 1 aimed at better ensuring that late fees charged on credit card accounts are “reasonable and proportional” – for example, capped at $8 for late credit card payments – has a […]
A final determination that business lending disclosure laws in up to four states are not preempted by federal law was issued Tuesday by the federal consumer financial protection bureau. According to the Consumer Financial Protection […]
How, and what, savings are federally insured at credit unions will be addressed at an April 13 webinar conducted by their federal regulator. The National Credit Union Administration (NCUA) said the hour-long session gets underway […]
A so-called “neobank” which says it provides access to the U.S. banking system has been ordered to stop making phony representations that its customers cryptocurrency is covered by federal bank deposit insurance, the agency that […]
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