Of the 19 banks whose Community Reinvestment Act (CRA) ratings became public in March, four received ratings of “outstanding” and two received ratings of “needs to improve,” the national bank regulator said Monday. The Office […]
A Mississippi bank was ordered to pay an $80,500 civil money penalty (CMP) for alleged violations of flood insurance requirements, the federal bank deposit insurance agency said Friday. In making public enforcement actions taken in […]
Three persons were prohibited by the federal credit union regulator in March from further service in a federally insured financial institution, the agency said Friday. According to the National Credit Union Administration (NCUA), the three […]
Violations of truth in lending and flood insurance regulations led the most frequently cited consumer compliance transgressions in 2023 for banks, according to a report issued Friday by the federal insurer of bank deposits. The […]
This article was updated April 1, 2024. Should banks be allowed to collect just a piece of an individual’s social security number prior to account opening to satisfy a key obligation under Bank Secrecy Act […]
Nearly half of all agency “reportable contracting dollars” in 2023 went to minority- or women-owned businesses, and nearly half of contract payments went to those vendors, according to a report to Congress published Thursday by […]
Remittance transfer providers that issue false advertising about the cost or speed of sending a remittance transfer can violate federal law, the federal consumer financial protection agency reminded in a circular issued Wednesday. The Consumer […]
Trading revenue was down by $2 billion in 2023, or 20.4%, from the year before at banks and savings associations, the national bank regulator said Wednesday. The Office of the Comptroller of the Currency (OCC) […]
Regulatory relief for financial institutions serving areas of Maine and Rhode Island affected by severe storms and flooding was announced Tuesday by the federal bank deposit insurer. The Federal Deposit Insurance Corp. (FDIC), in separate […]
Total assets dropped by $700 billion at the Federal Reserve Banks in 2023, according to annual audited financial statements issued by the Federal Reserve Tuesday, representing a decrease of 11.76% from the previous year. According […]
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