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Fed report: Interchange fees in 2017 grew by 5.9%; transaction volume rose too, but more slowly than previous period

March 21, 2019 0

Interchange fees across all debit and general-use prepaid cards (exempt and covered) totaled $20.73 billion in 2017, an increase of 5.9% since 2016, the Federal Reserve said Thursday. In its report, 2017 Interchange Fee Revenue, Covered […]

Asset growth cap on Wells Fargo will stay in place until bank puts forth, enacts plan, Powell says

March 20, 2019 0

The asset cap imposed on Wells Fargo Bank will remain in place, the chairman of the Federal Reserve Board said Wednesday, until the bank satisfies the Fed it has taken action to correct the environment […]

CFPB to propose debt collection rule this spring, Kraninger says

March 20, 2019 0

A notice of proposed rulemaking related to debt collection is planned for issuance in the spring of this year, the director of the Consumer Financial Protection Bureau (CFPB) stated in her message for the agency’s […]

Financial services complaints up 12% among servicemembers; credit, consumer reporting leads (again)

March 20, 2019 0

Complaints related to financial services were up 12% in 2018 among members of the U.S. armed services, veterans and their families, according to the latest “complaint snapshot” published Tuesday by the federal consumer financial protection […]

Waters’ House panel marks up CFPB, cannabis banking bills March 26

March 19, 2019 0

Two financial services bills – one targeting the consumer financial protection agency, the other addressing services to legitimate marijuana businesses – are slated for mark-up next Tuesday by the House Financial Services Committee, panel Chairwoman […]

Citibank assessed $25 million CMP over Fair Housing Act violations; will reimburse $24 million to customers

March 19, 2019 0

A civil money penalty (CMP) of $25 million for violating anti-discriminatory requirements of the Fair Housing Act (FHA) was assessed against Citibank, N.A., (Sioux Falls, S.D.) under a consent order executed Tuesday between the bank […]

Fed names 22 to fraud definitions workgroup in payment system project

March 18, 2019 0

Twenty-two payments industry leaders and subject matter specialists – from banks, credit unions, payments system vendors, Treasury and others – have been named to the Federal Reserve-sponsored Fraud Definitions Work Group, the latest initiative in […]

Fed report: Interchange fees in 2017 grew by 5.9%; transaction volume rose too, but more slowly than previous period

Asset growth cap on Wells Fargo will stay in place until bank puts forth, enacts plan, Powell says

CFPB to propose debt collection rule this spring, Kraninger says

Financial services complaints up 12% among servicemembers; credit, consumer reporting leads (again)

Waters’ House panel marks up CFPB, cannabis banking bills March 26

Citibank assessed $25 million CMP over Fair Housing Act violations; will reimburse $24 million to customers

Fed names 22 to fraud definitions workgroup in payment system project

Settlement of $335 million with big accounting firm leads to dissension at FDIC

Increasingly looming ‘Brexit’ forces bank regulators, other agencies, to issue rule for transferring swaps

Fed, FDIC set joint, public meetings on BB&T-SunTrust merger for April, May; comment period extended

Bowman, announcing nomination as supervision vice chair, pledges to leverage past experience

OIG suggests credit union agency consider whether to extend CLF stock adjustment payment due date beyond March 31

Fintech wins ‘conditional approval’ to buy bank, change its business model

‘Unilateral’ decision on blocking credit union reporting of overdraft fees creates rift among regulator board members

Comments due April 10 on bank merger policy rescission; FDIC plans future revision

Michigan bank, after many enforcement actions for phony loan program, acquired by Florida banking firm

First meeting of FSOC under new administration to be held entirely in executive session