A final rule that simplifies regulatory capital rules for banks, providing for eased compliance for community banks and others, was issued jointly Tuesday by the three federal banking regulatory agencies. The final rule, issued by […]
Fraudsters using phony identification – but which has elements of real information within it – to develop “synthetic identities” for payments is documented as an increasing problem for financial institutions, government agencies and individuals in […]
Legislation that aims for more flexibility in fees charged for appraisals, establishes federal consumer financial protection agency oversight in development of credit scoring models, and that mandates the title of “chair” (rather than chairman) for […]
A settlement that orders $20 million in restitution to affected consumers, and a $5 million civil money penalty (CMP) has been reached between a large debt-settlement services company and the federal consumer financial protection agency, […]
Bank stress testing in the future will need to ensure that banks remain stable – which means the tests will need to “keep up” as the financial system evolves, the chairman of the Federal Reserve […]
Title: Availability of Funds and Collection of Checks (Regulation CC) Subject: Reg CC Agency: CFPB, Federal Reserve Status: Final rule Summary: The Board and the Bureau (Agencies) are amending Regulation CC, which implements the Expedited […]
Changes made recently to parts of Regulation CC, which implements the Expedited Funds Availability Act (EFAA), are highlighted for credit unions in a new Consumer Financial Protection Update issued Monday by the National Credit Union […]
A former general counsel of a New Orleans bank pleaded guilty June 29 to charges of conspiracy to defraud the financial institution he once worked for, the Department of Justice and the Federal Deposit Insurance […]
Reporting of agreements between insured depository institutions and non-governmental entities or persons (NGEPs) intended to fulfill community reinvestment requirements would be extended for another three years under a proposal by the Federal Reserve. The Office […]
Another Financial Institution Letter (FIL) regarding the reduced reporting explained in an earlier one Friday by the three federal banking agencies was issued by the Federal Deposit Insurance Corp. (FDIC) alone later in the day. […]
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