A “significant drop” last year in annual mortgage applications and originations– especially among refinancings – was prompted by higher mortgage interest rates, according to a report issued Friday by the federal consumer financial protection agency. […]
Trading revenue was up 1.6% – or $263 million – in the third quarter for banks and savings associations, the national bank regulator said Thursday, and up 25% from the same period one year ago. […]
Net income was down 8.6% at the nation’s banks in the third quarter, but that decrease came mostly from one-time gains on equity security transactions reported in the previous quarter, according to the federal insurer […]
A final rule on overdraft lending programs for large banks and credit unions was finalized Thursday that, the federal consumer financial protection agency said, gave the financial institutions “several options to manage their overdraft lending […]
Comments from the public on certain federal banking rules and regulations that are under review now, with regulators focusing on whether they are outdated or unnecessary, are due to regulators by March 11, according to […]
Raising the threshold of $10,000 for reporting large cash transactions – or expanding criteria to allow for further exemption from reporting – is among recommendations made in a report by the congressional watchdog, issued Wednesday. […]
The agency’s 2025 operating budget and two policy “discussion drafts” will be taken up by the Federal Deposit Insurance Corp. (FDIC) Board during its open meeting next Thursday, according to a notice announced late Tuesday. […]
There is a new federally chartered credit union in Atlanta, Ga., which will serve persons in Austell, Ga., a low-income community, the federal credit union regulator said Wednesday. Soul Community Federal Credit Union (FCU) in […]
Account access guidelines apply to excess balance accounts (EBAs), the Federal Reserve said late Monday in a “technical clarification.” The Fed said its account access guidelines establish “transparent, risk-based, and consistent factors for Reserve Banks […]
Overdraft or non-sufficient funds (NSF) fees that blindside members may expose credit unions to heightened reputational, consumer compliance, third-party, and litigation risk, their federal regulator warned in a letter issued Tuesday. In a Letter to […]
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