An independent audit of the federal credit union regulatory agency’s schedule of investments and other taxes and receipts as of Sept. 30, 2023, presents information fairly under generally accepted accounting principles (GAAP), according to a […]
Three banks paid civil money penalties (CMPs) in October for a variety of shortcomings, including deceptive practices related to loan repayments, the federal insurer of bank deposits said Friday. In a release detailing enforcement orders […]
Called the “largest in history,” two settlements totaling $4.3 billion were announced late Tuesday against Binance Holdings Ltd. and its affiliates for violations of U.S. anti-money laundering laws, the Treasury Department said in a release. […]
Rising fraud associated with the COVID-19 Employee Retention Credit (ERC) is the subject of an alert to financial institutions by the Treasury’s financial crimes investigation unit, the agency said Wednesday in a release. The alert […]
An extended comment period for the long-term debt proposed rule was issued Wednesday by federal banking regulators, pushing the date Jan. 16, the agencies said in a release. The Federal Reserve, Federal Deposit Insurance Corp. […]
A former sales and service representative at a Fayetteville, Ark., branch of Arvest Bank who transferred money from an elderly customer’s account to her own has been barred by the Federal Reserve Board from future […]
The creation of a special committee to oversee an independent review of workplace culture at the Federal Deposit Insurance Corp. (FDIC) amid ongoing reporting on past allegations of sexual harassment and other misconduct at the […]
More than $30 million in relief was ordered Monday for student borrowers from a former Delaware company after the federal consumer financial protection agency and 11 states charged the firm with illegal loans and abusive […]
Public comments on a proposed rule subjecting larger nonbank companies that offer digital payment apps and wallets will be accepted by the Consumer Financial Protection Bureau (CFPB) through Jan. 8, according to a notice in […]
A $60 million payment for fines and consumer redress was ordered against a carmaker’s lending arm for allegedly directing customers to a dead-end cancellation hotline, withholding refunds, and “knowingly” tarnishing credit reports with false data, […]
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