Federal financial regulation – Page 46

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[ January 10, 2025 ] Eying changes ahead this month, FDIC Board vice chair outlines his agenda for new administration FDIC
[ January 10, 2025 ] Bureau seeks public comment on emerging payment mechanisms; proposes rule for how EFTA would cover Federal financial regulation
[ January 9, 2025 ] Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval CFPB
[ January 8, 2025 ] Banks in areas affected by California fires may close, OCC proclaims OCC
[ January 7, 2025 ] Final rule limiting use of medical information by creditors, including eligibility for credit, given green light CFPB

Congressional action, ‘trip wires’ urged for lessening of line blurring between banking, commerce

February 21, 2024 0

Financial instability is a possible result of the blurring of lines between banking and commerce in payments and private equity and credit, the leader of the national bank regulator said in remarks Wednesday. But the […]

New supervisory appeals process includes individual panels of CFPB managers to conduct review

February 16, 2024 0

A revised supervisory appeals process that includes the creation of a committee assigned to deal with each review was announced Friday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) described […]

Higher interest rates, tight operating margins leading to declining credit quality in some areas, report finds

February 16, 2024 0

Declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors are becoming clearer, a report from federal bank agencies indicated Friday. According […]

Latest OCC enforcements include prohibition and $50k civil money penalty

February 16, 2024 0

A former employee of a bank in Southfield, Mich., was barred from future work in any federally insured financial institution and ordered to pay a $50,000 civil money penalty, according to a consent order released […]

Large banks offer bad deals on credit cards, including rates and fees; smaller banks, credit union cards cost less, CFPB finds

February 16, 2024 0

Large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk, and the 25 largest credit card issuers charged interest rates eight to 10 percentage […]

CRE risk remains in crosshairs of Fed supervisors as anniversary of SVB failure approaches

February 16, 2024 0

Risk to banks from commercial real estate (CRE) investments continues to be of concern to federal banking supervisors, the Federal Reserve’s top supervisor indicated in a speech Friday. Federal Reserve Board Vice Chairman for Supervision […]

Fed adds ‘exploratory analysis’ of risks to banking system in ’24 stress tests for big banks

February 15, 2024 0

Hypothetical scenarios for annual stress tests this year of very large banks were released Thursday by the Federal Reserve, which also included new, “exploratory” elements designed to test different risks of the banking system. The […]

Review of sexual misconduct claims at FDIC could end in second quarter; agency waives restrictions on reporting conduct

February 15, 2024 0

A potential end period for the third-party review of sexual harassment claims within the Federal Deposit Insurance Corp. (FDIC), plus steps taken to ease the ability of individuals to report such activity, was announced in […]

OCC opens stress testing season, with returns due by April 5; results published by July 15

February 15, 2024 0

National banks with assets of more than $250 billion must file their 2024 stress tests results to their regulator by April 5, the agency said Thursday, with results expected to be published by July 15. […]

NCUA’s MDI preservation program updated; NCUSIF at 1.3%

February 15, 2024 0

Revisions to the agency’s written Minority and Depository Institution (MDI) Preservation Program policy were approved unanimously Thursday by the National Credit Union Administration (NCUA). The revised policy, among other things, reflects that administration of the […]

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Eying changes ahead this month, FDIC Board vice chair outlines his agenda for new administration

January 10, 2025 0

Work on a “new direction” for the federal bank deposit insurer will begin on Jan. 20, the likely next acting chairman of the agency’s board said Friday, including a lesser focus on process, an “open-minded approach” to innovation and technology, [...]
Bureau seeks public comment on emerging payment mechanisms; proposes rule for how EFTA would cover

January 10, 2025 0

Requirements that apply to emerging payment mechanisms – such as those used in video gaming platforms — are the subject of a proposed interpretive rule issued Friday by the federal consumer financial protection agency. The proposal looks at such payment [...]
Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval

January 9, 2025 0

A non-profit organization operating in the United States and Canada is the first to be recognized as a standard-setting body for open banking, the federal consumer financial protection agency said late Wednesday. The application by Financial Data Exchange (FDX) to [...]
Banks in areas affected by California fires may close, OCC proclaims

January 8, 2025 0

National banks and federal savings institutions may close in areas affected by the fires in the Los Angeles area, the national bank regulator said Wednesday. The Office of the Comptroller of the Currency (OCC) said, by its proclamation, it expects [...]
Final rule limiting use of medical information by creditors, including eligibility for credit, given green light

January 7, 2025 0

A regulatory exception that previously permitted a creditor to obtain or use medical information, including medical debt information, is removed under a new rule on medical debt collection issued Tuesday by the federal consumer financial protection agency. The Consumer Financial [...]
CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines

January 7, 2025 0

A lawsuit alleging that consumer reporting agency Experian unlawfully failed to properly investigate consumers’ disputes over information in their credit reports was filed Tuesday by the Consumer Financial Protection Bureau (CFPB). The CFPB said that Experian Information Solutions, Inc. – [...]
Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator

January 7, 2025 0

Credit risk, balance sheet management, and risk to earnings and net worth are among the top supervisory priorities for the federal credit union agency in the new year, it said in a letter to the institutions is supervises Tuesday. The [...]