The comment period on proposed rule changes on brokered deposits restrictions applicable to less-than-well-capitalized banks is extended 60 days to June 9, according to the Federal Deposit Insurance Corp. (FDIC), which pointed to the challenges […]
The federal agency responsible for consumer financial protection on Thursday said it is continuing to conduct supervision with consumer protection in mind, but examinations and other supervisory work is being carried out remotely “for the […]
The FDIC late Thursday (April 2) issued a revised FIL-33-2020 with corrected links to SBA and Treasury program info. Against the backdrop of record U.S. unemployment claims, the federal bank deposit insurer on Thursday urged supervised […]
A proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring “covered funds” will continue to be open to comment until May 1; Wednesday was the previous deadline. In a […]
The Federal Reserve Board on Wednesday announced a one-year easing in holding companies’ supplemental leverage ratio (SLR) requirements in an effort both to ease strains in the Treasury market resulting from the coronavirus and to […]
A company doing business under the name Cash Store has been ordered to pay a $1.1 million civil money penalty (CMP) and consumer redress of $286,675.64 in a settlement with the Consumer Financial Protection Bureau […]
Three former credit union workers were prohibited from work at any federal insured financial institution last month by the credit union federal regulator over individual actions related to embezzlement and troubled debt restructurings (TDRs). The […]
Compliance responsibilities of credit reporting agencies and furnishers of report information under the consumer and business relief provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) are outlined in a policy statement […]
Six banks received “outstanding ratings” – and none received less than “satisfactory” – among the 28 evaluations of banks for compliance with anti-redlining laws and rules made public last month, the federal regulator of national […]
Credit or consumer reporting made up 44% of all complaints received by the federal consumer financial protection agency in 2019 – a 23% increase from the previous year and the largest number of complaints in […]
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