Civil money penalties of $2 billion will be paid by a multi-national bank to resolve fraud claims over the sale of residential mortgage-backed securities (RMBS), the Department of Justice (DOJ) announced Thursday. In a release, […]
At least one state is responding to changes at the federal consumer financial protection agency by naming a new director to its own state-level agency designed to “protect consumers from financial fraudsters.” New Jersey Attorney […]
Provisions of a loan participation transaction at a credit union must meet regulatory requirements throughout the life of the loan, and each loan must be treated independently, according to a legal opinion letter issued by […]
“Guidance and implementation” support is the tenth in the series of “requests for information” (RFI) from the federal consumer financial protection agency as the bureau seeks input on effectiveness of the guidance it provides about […]
Although the exact amount of restitution has not yet been finally determined, $20 million to provide restitution to harmed consumers has been placed in a segregated account, and fines of more than $1 million have […]
Acknowledging he will soon be leaving his agency post, Federal Deposit Insurance Corp. (FDIC) Vice Chairman Thomas M. Hoenig on Wednesday promoted the continuation of strong prudential standards for banks – including strong capital requirements […]
When Jelena McWilliams is confirmed by the Senate to be the next chair of the board for the federal deposit insurance agency – likely next month, after the Senate returns from its spring state work […]
The chief of staff and chief operating officer of the federal deposit insurance agency is retiring, likely in tandem with the completion of the tenure of the chairman of the organization’s board of directors. Barbara […]
A three-judge panel has been appointed to hear the argument April 12 from the deputy director of the federal financial consumer protection agency that she is the rightful acting director of the agency, rather than […]
Major compliance and operational risks for national banks and federal savings associations – including compliance risks associated with the Bank Secrecy Act (BSA) and the Community Reinvestment Act (CRA), and operational risks associated with systems […]
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