A final rule that raised to 0.15% the rate of interest the Federal Reserve Banks pay on depository institutions’ reserve balances was published in the Federal Register Wednesday. The rate 0.05 percentage point increase was […]
An Oakland, Calif.-based online lending firm faces a lawsuit – again – from the federal consumer financial protection agency for allegedly misrepresenting products and services and for failing to provide adverse-action notices to applicants, the […]
A proposal to rescind the agency’s 2020 Community Reinvestment Act (CRA) rule by Jan. 1 and replace it with rules based on the 1995 interagency rules was announced Wednesday by the Office of the Comptroller […]
Federally insured banks and savings institutions netted $70.4 billion in income during the second quarter of 2021, up $51.9 billion, or 281%, from the same quarter a year ago and due primarily to a $73 […]
Credit unions saw their net income rise by more than 77% in the first half of 2021, from year-end 2020, expanding it to $21.3 billion over the six-month period, the federal regulator of credit unions […]
Allegedly misleading borrowers about income share agreements (ISAs) has led a Virginia-based student lender to face action from the federal consumer financial protection agency – but no financial penalties, the agency said Tuesday. According to […]
Banking regulators rated eight banks “outstanding” for their efforts under the anti-redlining Community Reinvestment Act (CRA) and deemed one “needs to improve,” with the remaining institutions deemed satisfactory, the agencies said in releases last week […]
Mid-year banking performance statistics will be released Wednesday, the federal insurer of bank deposits said Tuesday. According to the Federal Deposit Insurance Corp. (FDIC), agency Board Chairman Jelena McWilliams will lead a virtual press briefing […]
More than 100 low-income credit unions were awarded grants totaling $1.5 million to expand their outreach to underserved communities and improve digital services and security, the federal credit union regulator said Sept. 1. The grants […]
Survey results of bank branch office deposits for all federally insured institutions as of mid-year 2021 are now available, the federal insurer of bank deposits said Friday. The summary, which provides deposit totals for each […]
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