Guidance for implementing a framework to supervise insurance organizations owned by banks and overseen by the Federal Reserve was proposed Friday by the agency. Comments will be accepted for 60 days. According to the Fed, […]
Three former Utah bankers were prohibited from future service in their former bank, or any other insured depository institution or company, and fined a total of $510,000 for reckless, unsafe, or unsound banking practices involving […]
Bankers and a credit union leader from across 12 individual states are 2022 members of the Federal Reserve’s Community Depository Institutions Advisory Council (CDIAC), the agency said Friday. Officers of the council were also named. […]
A former branch manager for Cecil Bank, Elkton, Md., who reportedly misappropriated nearly $45,000 in customer funds in 2017 was barred from future involvement in the affairs of any federally insured depository institution under a […]
Implementation of the current-expected-credit-loss (CECL) accounting standard kicks in next January for credit unions, and their federal regulator on Thursday noted plans to help them complete the first hurdle. During a briefing during Thursday’s open […]
On a bipartisan, 2-1 vote, the board of the federal agency that regulates credit unions issued a proposed rule Thursday that would require federal credit union (FCU) boards of directors to establish and adhere to […]
Wondering which consumer reporting companies can be held accountable by the public? Wonder no more: A list of “dozens of specialty reporting companies that collect and sell access to people’s data” was released Thursday by […]
Anthony Cappetta is the new president of the government-sponsored lending facility for credit unions experiencing unusual or unexpected liquidity shortfalls, the federal credit union regulator said Wednesday. His appointment is effective Monday (Jan. 30). A […]
Federal Reserve policymakers may be on the verge of raising interest rates to deal with rising inflation – by March, that is – but financial stability continues to be solid, the chairman of the agency […]
The top insurance executive for the federal fund that insures bank deposits is retiring, effective at the end of May, after a 34-year career, the agency announced Wednesday. Diane Ellis, director of the division of […]
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