Banks’ net income declined $17 billion to $59.7 billion in the first quarter of 2022, a 22.2% drop from the same time a year ago, with growth in provision expense driving that 12-month decline, the […]
The first new minority depository institution (MDI) national bank created in 15 years was awarded late Monday by their federal regulator, the agency said, forming a woman-owned and led institution. According to the Office of […]
Spurring innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants is the aim of a new office created within the federal consumer financial protection agency (and replacing another), the […]
Jerome. H. (“Jay”) Powell and Lael Brainard were sworn in Monday to terms as chair and vice chair of the Federal Reserve Board Monday, the Fed announced, noting also the swearing in of Lisa D. […]
The president’s renomination of Todd M. Harper to a full term on the National Credit Union Administration (NCUA) Board appears to be nearing a Senate vote this week under a unanimous consent agreement – a […]
The federal consumer financial protection agency’s Consumer Advisory Board (CAB) is set to meet publicly June 8, according to a notice scheduled for publication Tuesday in the Federal Register. The CAB, which last met on […]
A debt collection enterprise based in upstate New York and charged two years ago for lying to and harassing consumers would be required to exit the debt collection market, pay $4 million in civil money […]
More than three in four (78%) of Americans reported either doing okay or living comfortably financially at the end of 2021, according to survey results released by the Federal Reserve Monday, which the agency called […]
Risks related to cybersecurity and illicit financial activity are among the top hazards facing banks in 2022, the federal bank deposit insurance agency said in report Friday. In its 2022 Risk Review, the Federal Deposit […]
A six-month report to Congress by the inspector general of the federal agency that charters and regulates credit unions gives a few details of the circumstances surrounding three credit union liquidations conducted from last December […]
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