The Fed – Page 101 – Regulatory Report

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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

2020 stress-test scenarios released by Fed; deadline for banks to submit self-test results is April 6

February 6, 2020 0

– UPDATE: 2020 stress test results out; share buybacks prohibited, dividends capped for 3rd quarter; see story – Hypothetical scenarios for 2020 stress test exercises to evaluate the ability of 34 large banks with more […]

Senate Banking to hear Fed nominees’ testimony Feb. 13

February 6, 2020 0

The president’s two nominees to the Federal Reserve Board – Judy Shelton and Christopher Waller – are scheduled to testify on their nominations Feb. 13 before the Senate Banking Committee. The Senate received the nominations […]

Farmers & Merchants Bank of Craig County (VA) assessed $9,500 fine for flood insurance violations

February 6, 2020 0

A civil money penalty of $9,500 was assessed against Farmers & Merchants Bank of Craig County (New Castle, Va.) this week over violations of federal flood insurance rules, according to a consent order announced Thursday […]

Fed continues to analyze ‘FedNow’ comments, but no indication when results released

February 6, 2020 0

Comment letters on the proposed “FedNow” digital payments system continue to be analyzed by the Federal Reserve, but the central bank governor overseeing the planned system gave no indication Wednesday when the results of that […]

Senate Banking slates Powell testimony on monetary policy Feb. 12

February 5, 2020 0

Federal Reserve Board Chair Jerome H. (“Jay”) Powell will give lawmakers an update on the central bank’s monetary policy activity during a Senate Banking Committee hearing next Wednesday, one day after giving similar testimony for […]

Banks see somewhat deteriorating loan performance in 2020, survey shows

February 4, 2020 0

Senior bank loan officers said they expect banks to tighten standards for most categories of business loans, credit card loans, and auto loans over the coming year, but they expect standards will be unchanged for […]

Fed bars former Farmers & Merchants Bank teller, assesses monies over embezzlement

February 4, 2020 0

A former teller and vault custodian of Farmers & Merchants Bank (Baldwin, Miss.) was barred from future work in banking and ordered to pay a combined $30,331.27 in restitution and fine over allegedly embezzling hundreds […]

Former Goldman Sachs exec barred permanently over financing of defrauded Malaysian sovereign wealth fund

February 4, 2020 0

A former senior executive of Goldman Sachs, Andrea Vella, has been barred under a consent order from any future involvement in the banking industry for his role in the firm’s financing of a defrauded Malaysian […]

Risk remains elevated in leveraged lending, report finds, with ‘weak structures’ for transactions

January 31, 2020 0

Credit risk associated with leveraged lending remains elevated, with lenders having have fewer protections and risks having increased in leveraged loan terms since the last recession, according to a report released jointly Friday by the […]

Bowman sworn in for second term on Fed Board; runs 14 years

January 30, 2020 0

Michelle W. (“Miki”) Bowman took the oath for a second term on the Federal Reserve Board Thursday – the day before her current term expired. Bowman – sworn in by Federal Reserve Board Chair Jerome […]

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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 [...]