Three former credit union employees were prohibited in March from ever again working at a federally insured financial institution, the federal regulator of credit unions said Friday, for charges that ranged from making false entries […]
A busy February featured 15 orders issued by the federal deposit insurance agency, it said Friday – including five removals and prohibitions, one civil money penalty (CMP), one consent order, one restitution order (including a […]
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 […]
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