The Consumer Compliance Examination Manual (CEM) of the federal insurer of bank deposits has been updated in at least seven areas, the agency said Thursday. Among the key areas the Federal Deposit Insurance Corp. (FDIC) […]
An official from the Office of the Comptroller of the Currency (OCC) on Thursday told Congress that legislation could help address systemic risks associated with the cessation of LIBOR (London Interbank Offered Rate) by encouraging […]
A new “Allowance for Credit Losses” (ACL) booklet of the agency’s supervision and examination handbook announced Thursday will be used in supervising community banks that have adopted the “current expected credit losses” (CECL) accounting methodology, […]
A Wisconsin man pleaded guilty to bank fraud this week for his role in fraudulently obtaining more than $600,000 in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus […]
Federal legislation to mitigate risks related to legacy contracts that use a soon-to-be discontinued reference rate is needed, a top Federal Reserve official will tell a congressional hearing Thursday, according to testimony released Wednesday. In […]
Two in five of new hires (42.1%) in 2020 were people of color, and gender diversity among senior executives achieved parity last year for the first time, the federal credit union regulator said Wednesday in […]
Modest to moderate increases in overall loan volumes were reported by bankers in most Federal Reserve districts from late February to early April, but high demand was seen in lending for single family homes, the […]
Four long-time examiners at the regulator of national banks – who hold a combined nearly 141 years of service at the agency – have been designated “senior national bank examiners,” the highest honor the agency […]
A California-based, online debt settlement company would pay $646,000 in redress to consumers and a $750,000 civil money penalty related to allegations the firm violated the Consumer Financial Protection Act and the Telemarketing Sales Rule […]
An Innovation Hours Program slated June 10 by the Financial Crimes Enforcement Network (FinCEN) will allow participating firms that are founded, owned, or managed by underserved groups to present their innovative products, services, and approaches designed […]
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