The “latest life-of-loan,” or “Weighted Average Remaining Maturity,” and other enhancements are included in the updated tool to help credit unions comply with accounting rules designed to improve recognition of credit losses on loans and […]
No changes are necessary to Bank Secrecy Act/anti–money laundering (AML/BSA) compliance programs designed to follow the 2016 Customer Due Diligence (CDD) rule because of the Jan. 1 effective date for the new beneficial ownership information […]
Data on smallbusiness, small farm, and community development lending during 2022 was released Wednesday by the federal banking regulators, part of their annual obligation under federal anti-redlining laws. According to the fact sheet released by […]
A technical correction for calculating and reporting current expected credit loss (CECL) transition amounts on credit union call reports was issued Wednesday by the federal regulator of the cooperatives. “The transition to the CECL methodology […]
The final transaction of $1.1 billion has been completed following the marketing of the $33 billion commercial real estate (CRE) portfolio retained in receivership after the failure of Signature Bank, New York, N.Y., the Federal […]
Many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products according to a report issued Tuesday by the federal consumer financial protection agency. According to its 2023 student […]
More than a quarter of consumers say someone in their household was charged an overdraft fee or NSF fee within the past year, even though many banks and credit unions have dropped the fees, the […]
An Ohio bank holding company, and its bank, are under an enforcement order by the Federal Reserve after a recent examination found “certain deficiencies” at the bank, the agency said Tuesday. Marblehead Bancorp, which owns […]
Fines totaling $36 million were announced Tuesday against the fifth largest bank firm in the nation for “illegal conduct” during the coronavirus crisis related to access and payment of unemployment benefits, two regulators said. In […]
Banks with commercial real estate (CRE) concentrations should have strong capital, appropriate credit loss allowance levels, and robust credit risk-management practices, the federal bank deposit insurance agency said Monday in a letter to all banks. […]
Copyright (c) 2022, RegReport.info; Contact: editor@regreport.info