Top headlines in today’s news …
Capital and liquidity positions of the nation’s banking system remain “robust,” with bank profitability mostly rebounding to pre-pandemic levels, the Federal Reserve said Friday in its semiannual report on safety and soundness. However, the report […]
Compliance with a final rule on “qualified mortgages” (QMs) is delayed to Oct. 1, 2022, the federal consumer financial protection agency said Tuesday, asserting that the delay would allow lenders more time to offer the […]
Preliminary conditional approval for an application to charter Paxos National Trust, New York, which will be uninsured and focus on cryptocurrency services, was announced Friday by the Office of the Comptroller of the Currency (OCC). […]
A federal court Thursday was asked to declare as void the 2015 transfer by a former debt collection firm operator of a $1.6 million home to family members and to order the seizure and sale […]
The stand-up of the Mission-Driven Bank Fund by the federal agency that insures bank deposits has made some strides, with a financial advisor and two law firms now engaged to develop the fund’s framework, structure, […]
Tenants can hold debt collectors accountable for illegal evictions in the face of a moratorium on such actions outlined by federal health authorities, according to a rule issued Monday by the federal consumer financial protection […]
Federal legislation to mitigate risks related to legacy contracts that use a soon-to-be discontinued reference rate is needed, a top Federal Reserve official will tell a congressional hearing Thursday, according to testimony released Wednesday. In […]
A California-based, online debt settlement company would pay $646,000 in redress to consumers and a $750,000 civil money penalty related to allegations the firm violated the Consumer Financial Protection Act and the Telemarketing Sales Rule […]
Feedback on how much the principles in the 2017 interagency “Supervisory Guidance on Model Risk Management” support compliance by banks and credit unions with Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control […]
Preventing “avoidable foreclosures” as the emergency federal foreclosure protections expire is the aim of a set of rules proposed Monday by the federal consumer financial protection agency. In a release, t he Consumer Financial Protection […]
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