Saying that the nation’s financial system is far stronger and more resilient than a decade ago, with banks holding “much higher” levels of capital and liquid assets, and more aware of and better able to […]
Enhancing the value of financial institution charters his agency issues, reducing “unnecessary burden,” and promoting economic opportunity while maintaining safety and soundness of the federal banking system were three goals outlined by Joseph M. Otting […]
A fine assessed on a bank for failure to obtain flood insurance on mortgage loans, and an order for another bank to establish an independent board and hire qualified management, were among the 14 actions […]
Mick Mulvaney, designated Friday as acting director of the Consumer Financial Protection Bureau (CFPB) while simultaneously continuing to serve as director of the Office of Management and Budget (OMB), took a seat at the bureau’s […]
Leandra English was tapped deputy director of the Consumer Financial Protection Bureau (CFPB) by outgoing Director Richard Cordray, the agency announced in a release Friday; English is now the agency’s chief of staff. As deputy director, […]
Consumer understanding of overdraft programs — including their perceptions of experiences, beliefs about advantages, and drawbacks to alternatives – are explored through “qualitative interviews” about the product issued in a report by the Consumer Financial […]
A dual fine totaling $6.5 million, and an order to “end these illegal servicing practices” was levied on Citybank, N.A. by the Consumer Financial Protection Bureau (CFPB) Tuesday over student loan servicing. According to the […]
A final rule extending the existing capital requirements for mortgage servicing assets and certain other items for some financial institutions was issued Tuesday by the federal banking agencies, with an effective date of Jan. 1. […]
Banks and savings institutions reported net income of nearly $50 billion in the third quarter of 2017 – up 5.2% ($2.4 billion) from the same period one year ago, and an accompanying increase in average […]
Data on small business, small farm, and community development lending reported by certain commercial banks and savings associations under the Community Reinvestment Act (CRA) is being made available by the three federal banking agencies, the […]
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