The federal regulator of credit unions said it signed a memorandum of understanding (MOU) Wednesday with Puerto Rico’s financial institutions supervisor describing how the two plan to cooperate in areas of staff training, supervision and […]
U.S. dollar (USD) London Inter-Bank Offered Rate (LIBOR) panels end June 30, and banks and credit unions are expected to complete their transition of remaining LIBOR contracts as soon as practicable, the federal banking, credit […]
A debt collector who brings or threatens to bring a state court foreclosure action on a mortgage that is past the statute of limitations may violate the Fair Debt Collection Practices Act (FDCPA) and implementing […]
Minimizing consumer compliance risk with overdraft programs is the subject of separate guidance issued Wednesday by two federal banking regulators, particularly with programs that assess an overdraft fee on a transaction that was authorized against […]
Protecting consumers from unlawful discrimination created by automated systems using artificial intelligence (AI) and other emerging automated systems is the aim of a pledge made Tuesday by the federal consumer financial protection agency and three […]
A new federal credit union headquartered in New York City to serve primarily employees and members of the United Church of Christ – with 4,700 churches and about 745,230 members – is expected to begin […]
The National Credit Union Administration’s request for information (RFI) on climate-related financial risks to the credit union system was published in the Federal Register Tuesday with a comment deadline of June 26. The RFI, released […]
Title: Climate-Related Financial Risk Subject: Climate risk Agency: NCUA Status: Request for information and comment Summary: The NCUA is seeking public input on current and future climate and natural disaster risks to federally insured […]
Restitution of at least $4 million, and a civil money penalty of $1 million, is being sought from a former credit union leader for causing a substantial loss to his institution, the federal credit union […]
The federal bank deposit insurer has activated disaster-related regulatory relief measures for banks in areas of Indiana affected by severe storms, straight-line winds, and tornadoes. The Federal Deposit Insurance Corp. (FDIC) issued a Financial Institution […]
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