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[ November 15, 2024 ] Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds The Fed
[ November 15, 2024 ] CLF’s 2025-26 budget, share insurance fund update slated next Thursday NCUA
[ November 15, 2024 ] Farmer Mac stock a permissible investment for some FCUs, agency opinion states NCUA
[ November 14, 2024 ] Fed’s Kugler becomes latest board member to advocate for continued agency independence The Fed
[ November 14, 2024 ] VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs CFPB

Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications

November 20, 2023 0

Title: Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications Subject: Digital payments; larger market participants Agency: CFPB Status: Proposed rule Summary: The Consumer Financial Protection Bureau (CFPB) proposes a rule to […]

Debit Card Interchange Fees and Routing

November 14, 2023 0

Title: Debit Card Interchange Fees and Routing Subject: Debit interchange Agency: Federal Reserve Status: Proposed rule Summary: Regulation II implements a provision of the Dodd-Frank Act that requires the Board to establish standards for assessing […]

Fair Hiring in Banking

November 14, 2023 0

Title: Fair Hiring in Banking Subject: ‘Second chance’ hiring Agency: FDIC Status: Proposed rule Summary: The Federal Deposit Insurance Corporation (FDIC) proposes to revise its regulations to conform with the Fair Hiring in Banking Act […]

Fair Hiring in Banking

November 7, 2023 0

Title: Fair Hiring in Banking Subject: ‘Second chance’ hiring Agency: NCUA Status: Proposed rule Summary: The NCUA Board (Board) proposes to incorporate its “Second Chance” Interpretive Ruling and Policy Statement 19–1 (IRPS 19–1) and the […]

The NCUA Staff Draft 2024-2025 Budget Justification

November 2, 2023 0

Title: The NCUA Staff Draft 2024-2025 Budget Justification Subject: Agency funding Agency: NCUA Status: Notice Summary: The NCUA’s staff draft “detailed business-type budget” is being made available for public review as required by federal statute. […]

Required Rulemaking on Personal Financial Data Rights

October 31, 2023 0

Title: Required Rulemaking on Personal Financial Data Rights Subject: Consumer access to data Agency: CFPB Status: Proposed rule Summary: The Consumer Financial Protection Bureau (CFPB) is proposing a rule to implement personal financial data rights […]

Regulatory Capital Rule: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies; Systemic Risk Report (FR Y-15)

October 27, 2023 0

Title: Regulatory Capital Rule: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies; Systemic Risk Report (FR Y-15) Subject: G-SIB surcharge, systemic risk Agency: Federal Reserve Status: Proposed rule Summary: The Board of Governors […]

Simplification of Share Insurance Rules

October 25, 2023 0

Title: Simplification of Share Insurance Rules Subject: Share insurance; trust accounts, MSAs Agency: NCUA Status: Proposed rule Summary: The NCUA Board (Board) is seeking comment on proposed amendments to its regulations governing share insurance coverage. […]

Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern

October 23, 2023 0

Title: Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern Subject: AML; convertible virtual currency mixing Agency: FinCEN Status: Proposed rule Summary: FinCEN is issuing […]

Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More

October 13, 2023 0

Title: Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More Subject: Corporate governance, risk management Agency: FDIC Status: Proposed rule and issuance of […]

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Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

November 15, 2024 0

Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset quality, according to a supervision [...]
CLF’s 2025-26 budget, share insurance fund update slated next Thursday

November 15, 2024 0

The budget for the agency’s liquidity facility for credit unions is slated for action during the Nov. 21 open meeting of the National Credit Union Administration (NCUA) Board, which will also receive a credit union share (deposit) insurance fund briefing. [...]
Farmer Mac stock a permissible investment for some FCUs, agency opinion states

November 15, 2024 0

Federal credit unions (FCUs) may invest in common stock of the Federal Agricultural Mortgage Corporation, or Farmer Mac, to the extent they must in order to serve as loan originators or sellers in the program, the federal credit union regulator [...]
Fed’s Kugler becomes latest board member to advocate for continued agency independence

November 14, 2024 0

Count Federal Reserve Board Gov. Adriana Kugler as an advocate of continued agency independence, who Thursday said that condition is “fundamental” to the Fed achieving good policy. In remarks to a meeting of the Latin American and Caribbean Economic Association [...]
VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

November 14, 2024 0

A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday by the federal consumer financial [...]
OIG sets 4 recommendations for NCUA’s federal chartering process

November 14, 2024 0

Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National Credit Union Administration (NCUA) Office [...]
Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was provided in the NCUA’s evening [...]
PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

November 13, 2024 0

Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer of bank deposits. The report, [...]
Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

November 13, 2024 0

An alert to help financial institutions identify fraud schemes targeting them and that are associated with the use of deepfake media created with generative artificial intelligence (GenAI) tools was issued Wednesday by Treasury’s financial crimes enforcement arm. The Financial Crimes [...]