The Federal Deposit Insurance Corp. (FDIC) is proposing changes to its stress-testing rules to conform to similar changes made previously by the Federal Reserve and the Office of the Comptroller of the Currency (OCC). The […]
Fraud and associated costs in the U.S. payments system, as well as causes and contributing factors to fraud, are the focus of a study the Federal Reserve is beginning this month with the goal of […]
Calculating and recording the distribution of nearly $736 million in equity from the federal insurance fund for credit unions is the aim of a new online resource offered by the insurance fund’s federal manager, the […]
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 […]
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