A record amount of $11.4 billion in debt settlements 10 years ago during the Great Recession may provide a road map of what’s to come in 2020 as the financial impact of the coronavirus crisis […]
There are no material differences in accounting and capital standards applicable to the insured depository institutions they regulate and supervise, but there are some technical deviations, the federal banking agencies will say in their annual […]
The federal bank deposit insurer’s receivership of the defunct ShoreBank (Chicago) was terminated July 1, the agency said in a recent Federal Register notice. ShoreBank was closed by the Illinois Department of Financial and Professional […]
Two proposed rules aimed at addressing the pending expiration of the so-called “GSE patch” in the federal consumer financial protection agency’s qualified mortgage provisions of its Truth in Lending Act regulation are slated for publication […]
A consent order entered into in April 2011 between the Federal Reserve Board and The Leaders Group Inc. – a bank holding company that owns and controls The Leaders Bank (Oak Brook, Ill.) – was […]
The role of artificial intelligence (AI) and, within it, machine learning (ML), in the credit underwriting process is under review at the Consumer Financial Protection Bureau (CFPB), which highlighted in a blog post Wednesday the […]
Millions of dollars in fines against a Florida company for charging illegal fees to consumers to purportedly relieve them of their federal student loan payments will be reduced to just a fraction of that under […]
Thomas Pahl is the new deputy director of the federal consumer financial protection bureau, the third person to fill that position so far this year. The agency also announced a new division consolidating its external […]
A June legal opinion from the federal credit union regulatory agency notes that the “reasonable proximity” requirement under the Federal Credit Union Act doesn’t set a maximum distance between the location of a group that […]
Several false, misleading, and inaccurate marketing representations in advertising for a Delaware-based financial services company that took $15 million in deposits but was not a bank are alleged in lawsuit filed Monday the Consumer Financial […]
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