Top headlines in today’s news …
A final rule on overdraft lending programs for large banks and credit unions was finalized Thursday that, the federal consumer financial protection agency said, gave the financial institutions “several options to manage their overdraft lending […]
Raising the threshold of $10,000 for reporting large cash transactions – or expanding criteria to allow for further exemption from reporting – is among recommendations made in a report by the congressional watchdog, issued Wednesday. […]
Overdraft or non-sufficient funds (NSF) fees that blindside members may expose credit unions to heightened reputational, consumer compliance, third-party, and litigation risk, their federal regulator warned in a letter issued Tuesday. In a Letter to […]
An $80 billion Texas bank has been sued for allegedly “systematically failing” 3.4 million primarily unbanked Americans receiving federal benefits, the federal consumer financial protection agency said Friday, which is seeking a stop to the […]
Return of $1.8 billion in illegal junk fees – allegedly charged in a credit repair scheme – from Salt Lake City firms to 4.3 million Americans was announced Thursday by the federal consumer financial protection […]
Federal banking agencies on Tuesday launched the third part of a four-part review of their regulations to identify those which are outdated “or otherwise unnecessary.” The review – by the Federal Deposit Insurance Corp. (FDIC), […]
Data brokers would be blocked from selling sensitive personal data to potential scammers, stalkers and “spies” (those conducting espionage) under a proposal issued Tuesday by the federal consumer financial protection agency. The Consumer Financial Protection […]
Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by […]
A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule […]
Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset […]
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