Federal financial regulation – Page 139

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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

Comptroller sets CRA exam schedules for 4Q ’22, 1Q ‘23

August 31, 2022 0

Exams for compliance with rules implementing anti-redlining laws will be conducted in at least 70 national banks and federal savings and loan institutions during the last quarter of this year and the first quarter of […]

Reg Report taking September break; publication to resume Oct. 3

August 31, 2022 0

Regulatory Report is taking an extended break during September, as the editors take some time to refresh and retool. Today’s issue (Aug. 31) will be the last for several weeks, with daily publication to resume […]

Consumer bureau unveils HMDA quarterly graphs tool

August 30, 2022 0

A new graphs tool that utilizes quarterly Home Mortgage Disclosure Act (HMDA) data reported by certain financial institutions was unveiled Tuesday by the federal agency charged with consumer financial protection. Under 2015 revisions to the […]

Schedule for 4Q ’22 and 1Q ’23 CRA exams set by FDIC

August 30, 2022 0

Up to 370 banks will be examined for compliance with rules implementing anti-redlining laws in the fourth quarter of this year, and the first quarter of the next year, the federal insurer of bank deposits […]

FedNow slated for rollout from May to July 2023, Fed says; technical testing begins next month

August 29, 2022 0

Full-scale pilot testing of the Federal Reserve System’s instant payments service – FedNow – is set to launch in September, with the Federal Reserve Banks’ rollout of the FedNow Service now set to occur between […]

Mutual savings association panel to meet Sept. 20 at OCC offices

August 29, 2022 0

The panel that advises the Office of the Comptroller of the Currency (OCC) on matters related to mutual savings associations is set to hold a public meeting Sept. 20 at OCC headquarters in Washington, according […]

$400 million to be distributed among 1,500 credit unions as regulator continues wind-down of corporate resolution

August 29, 2022 0

Nearly $400 million will be distributed among 1,500 credit unions – with about 80% of the distribution going to about 400 of the institutions – by the end of next month, their federal regulator said […]

Hsu tours S.C. low country to appreciate banks’ role in expanding credit to rural areas

August 26, 2022 0

Understanding how banks can play a greater role in expanding access to capital and credit for rural, underserved, and economically distressed communities was a focus of a South Carolina low country tour conducted by the […]

Former teller prohibited for stealing $42k from NJ bank

August 26, 2022 0

A former teller at a New Jersey bank, charged with embezzling $42,000 from the institution, was prohibited last month from further service at a federally insured financial institution, the federal insurer of bank deposits said […]

Agency releases second part, on median family income, of three-part CRA data information

August 26, 2022 0

A flat file containing demographic median family income data for use in complying with anti-redlining laws was released Friday by the umbrella agency for federal financial institution regulators. The file, released by the Federal Financial […]

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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 [...]