The Fed – Page 51 – Regulatory Report

What's up

[ 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
[ January 7, 2025 ] CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines CFPB
[ January 7, 2025 ] Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator NCUA
[ January 6, 2025 ] Fed’s top supervisor announces resignation effective next month in advance of new president The Fed

Exam council broadens focus in authentication, access guidance on digital banking services and systems

August 11, 2021 0

Revised guidance on effective authentication and access risk management principles and practices related to digital banking services and information systems was issued Wednesday by the umbrella Federal Financial Institutions Examination Council (FFIEC). The guidance replaces […]

2015 action with JPMorgan Chase over FX operations terminated by Fed

August 6, 2021 0

A 2015 cease-and-desist order detailing unsafe and unsound practices in the foreign exchange (FX) operations of JPMorgan Chase & Co. (New York), and for which the firm was assessed a $342 million civil money penalty, […]

Fed outlines $1 trillion in capital requirements for big banks following stress test results

August 6, 2021 0

Individual capital requirements for large banks that will ensure $1 trillion in “high quality capital” – enough for the banks to weather a deep recession and keep lending – were announced Thursday by the Federal […]

Waller: ‘I am highly skeptical’ about need for Fed-issued CBDC

August 5, 2021 0

When it comes to central bank digital currencies (CBDCs), count as another skeptic Federal Reserve Board Member Christopher Waller, who Thursday expressed his doubts it would “solve any major problem confronting the U.S. payment system.” […]

Clarida: No change yet in pace of Fed purchases of Treasuries, MBS

August 4, 2021 0

While pointing to a strengthening economy, the Fed’s vice chair on Wednesday indicated no plans for the present to slow the Fed’s purchases of Treasury and mortgage-backed securities, adding that any change in purchases will […]

Fed extends comment period on FedNow rules to Sept. 9

August 3, 2021 0

The public comment period on a proposed rule adding provisions governing funds transfers handled through the coming new FedNow Service of the Federal Reserve Banks was extended from Aug. 10 to Sept. 9 Tuesday by […]

TN bank fined $26.5k over flood insurance violations; former AL bank employee barred

August 3, 2021 0

A prohibition of a former bank employee and a civil money penalty assessment against a bank over federal flood insurance violations were announced Tuesday by the Federal Reserve Board. The Fed, in a July 30 […]

Banks kept standards lower for most loan categories, survey shows

August 2, 2021 0

Standards were eased for nearly all types of loans in the second quarter of the year, according to a survey of senior loan officers released Monday. The Federal Reserve said results of its July 2021 […]

Fed seeks candidates for Insurance Policy Advisory Committee

July 30, 2021 0

People who are insurance experts and want to serve on the Federal Reserve Board’s Insurance Policy Advisory Committee (IPAC) have from Aug. 2 to Oct. 4 to submit their “statements of interest” in being considered, […]

Fed opens two standing domestic, foreign repo facilities with 25bp minimum bid rate

July 29, 2021 0

Two new standing repurchase agreement (repo) facilities – a domestic standing repo facility (SRF) and a repo facility for foreign and international monetary authorities (FIMA repo facility) – were created by the Federal Reserve’s monetary […]

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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 [...]
Fed’s top supervisor announces resignation effective next month in advance of new president

January 6, 2025 0

The top regulatory supervisor for the Federal Reserve will step down from his post in late February but will remain on the board of the agency as he continues to fill his board term which runs to the next decade, [...]
CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans

January 6, 2025 0

A suit filed Monday by the federal consumer financial protection agency says that a financing unit of Clayton Homes, Inc. – the largest manufactured home builder in the U.S. and a wholly owned subsidiary of Berkshire Hathaway, Inc. – provided [...]
Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings

January 3, 2025 0

Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to results for October released Friday [...]