American Honda Finance Corporation was ordered Friday to pay $10.3 million in consumer redress plus a $2.5 million civil money penalty over findings of credit report furnishing inaccuracies and dispute investigation failures during the COVID-19 […]
Echoing a stance taken by another regulator earlier this week, the Federal Reserve Friday said it has withdrawn from an international group of regulatory agencies focused on climate-change policy. The Fed said that it has […]
Equifax, one of three nationwide consumer reporting agencies, was ordered Friday to pay a $15 million civil money penalty for failing to conduct proper investigations of consumer disputes. The Consumer Financial Protection Bureau (CFPB) – […]
Up to $120 million in consumer redress plus a $55 million civil money penalty (CMP) must be paid by Block, the owner of peer-to-peer payments app Cash App, under a consent order announced Thursday by […]
Credit unions are not offsetting income from overdraft (OD) and non-sufficient funds (NSF) fees through reduced fees for other services or lower interest rates, according to a “research note” issued Thursday by the institutions’ federal […]
A 2025 performance plan was adopted by the federal credit union regulator’s board Thursday, outlining specific methods and targets about how the agency will measure its performance. The agency board adopted the plan unanimously at […]
Modest growth in lending was reported across Federal Reserve districts in late November and December, tracking what most districts called “moderate” or “modest” economic growth, according to the latest Beige Book released Wednesday by the […]
The national bank regulator on Tuesday ordered three former Wells Fargo, N.A., executives to pay a combined $18.5 million in civil money penalties (CMPs) for sales practices misconduct, concluding action initiated in 2020 against 11 […]
The proliferation of activities of non-bank financial institutions – including their risk to financial stability – are of particular concern to the outgoing board chairman of the bank deposit insurance agency, he said in remarks […]
A statement on supervisory practices affecting banks and credit unions in areas of California ravaged by wildfires was issued Tuesday by federal banking and credit union regulators, along with the California financial institution supervisor. The […]
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