Federal financial regulation – Page 438

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[ January 31, 2025 ] Utah bank faces penalty for ‘deceptive acts, unfair practices,’ including failure to disclose fees FDIC
[ January 31, 2025 ] Credit union worker prohibited after conviction in state court for embezzlement, forgery NCUA
[ January 31, 2025 ] Banking agencies set date for virtual public outreach to review regulations under EGRPRA FDIC
[ January 30, 2025 ] CFPB publishes annual list of consumer reporting companies, large and small CFPB
[ January 30, 2025 ] Military borrowers for cars pay more, longer, report asserts CFPB

‘Leveraged lending’ by business remains concern; Fed closely monitoring

October 30, 2019 0

In a press conference largely dominated by questions about the latest interest rate-cutting action by the Federal Reserve’s rate-setting committee (of 25 basis points), the chair of the agency’s board indicated Wednesday that high leverged […]

Fair lending, payday (‘PALs II’) rule, more discussed during Nov. 19 NCUA webinar

October 30, 2019 0

Registration is open now for a webinar scheduled Nov. 19 on consumer financial regulation and protection topics by the National Credit Union Administration (NCUA), according to an agency release Wednesday. The webinar, “Fair Lending and […]

Reg Z, M exemption thresholds increased to $58,300 for consumer credit, leases in 2020

October 29, 2019 0

Dollar thresholds have been set at $58,300 for determining exempt consumer credit and lease transactions in 2020 under rule changes issued jointly by the Federal Reserve and the Consumer Financial Protection Bureau (CFPB) and slated […]

TILA appraisal exemption for higher-priced mortgages increasing to $27,200 in January

October 29, 2019 0

The appraisal exemption threshold under Regulation Z (Truth in Lending Act) for higher-priced mortgage loans (HPMLs) is rising from $26,700 to $27,200 as of Jan. 1, 2020, according to a filing with the Federal Register. […]

‘Simplified,’ reduced capital framework for banks under $10 billion finalized

October 29, 2019 0

Community banks with less than $10 billion in assets (among other requirements) could qualify for simplified capital requirements under a rule finalized Tuesday by the federal banking regulators. The Federal Deposit Insurance Corp. (FDIC), the […]

Final ‘living will’ rule reduces requirements for smaller firms; only small firms may request changes

October 29, 2019 0

“Living will” (or resolution plan) requirements would be reduced for smaller financial firms that pose less risk to the financial system under a rule made final Monday by two federal banking regulators. The Federal Reserve […]

Credit union regulator plans $316 million budget for 2020, up about 4% from previous year

October 29, 2019 0

A $316 million operating budget – representing an increase of just under 4% from the 2019 spending plan – will be the subject of a Nov. 20 briefing by the federal credit union regulator, the […]

OIG finds FDIC info security program at a level not considered effective, but says improvements underway

October 28, 2019 0

The overall score earned by the information security program of the federal bank deposit insurer shows the agency’s program remains less than effective, according to the metrics used for the evaluation detailed Monday by the […]

Report pinpoints credit, market risks as key for banking industry going into new fiscal year

October 28, 2019 0

Credit risk in the areas of agriculture, commercial real estate, energy, housing, leveraged lending and corporate debt, and nonbank lending, and market risk in the areas of interest rate risk and deposit competition, and liquidity are […]

Agencies clear swap margin rule proposal for Federal Register; Brainard echoes concern about inter-affiliate swaps

October 28, 2019 0

A joint-agencies proposal to revise swap margin rules to remove the need for holding initial margin for uncleared swaps with affiliates is headed for publication soon in the Federal Register, after which comments will be […]

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Utah bank faces penalty for ‘deceptive acts, unfair practices,’ including failure to disclose fees

January 31, 2025 0

A Utah bank was ordered to pay a $650,000 civil money penalty (CMP) in December for engaging in “deceptive acts and unfair practices,” the federal bank deposit insurer said Friday. According to the Federal Deposit Insurance Corp. (FDIC), WEX Bank [...]
Credit union worker prohibited after conviction in state court for embezzlement, forgery

January 31, 2025 0

A former Michigan credit union worker – convicted last fall of embezzlement and forgery – has been served with a notice of prohibition by the federal regulator, the agency said Friday. It was the only such order issued by the [...]
Banking agencies set date for virtual public outreach to review regulations under EGRPRA

January 31, 2025 0

A virtual public outreach meeting for March 6, 2025, is set by federal banking agencies as part of their regular review of regulations – which is required by law, the agencies announced Friday. In joint releases, the agencies noted that [...]
CFPB publishes annual list of consumer reporting companies, large and small

January 30, 2025 0

An updated list identifying dozens of specialty consumer reporting companies as well as the three nationwide firms – Equifax, TransUnion, and Experian – was released Thursday by the Consumer Financial Protection Bureau (CFPB), along with information about steps consumers can [...]
Military borrowers for cars pay more, longer, report asserts

January 30, 2025 0

Military borrowers typically have larger loans, make smaller down payments, and ultimately shoulder higher monthly costs in the car-lending market, the federal consumer financial protection agency said Wednesday. In a report, the Consumer Financial Protection Bureau (CFPB) said that, while [...]
Order rescinding directives on ‘extremist settler violence’ in Middle East lessens bank SAR reporting requirements

January 30, 2025 0

Twin alerts on “Israeli Extremist Settler Violence Against Palestinians in the West Bank,” published last year, were rescinded Wednesday by the Treasury’s top financial crimes law enforcement unit, which effectively lessens reporting requirements on banks. The Financial Crimes Enforcement Network [...]