Pros and cons of a U.S. central bank digital currency (CBDC) are examined in a discussion paper released by the Federal Reserve Thursday, the agency said, which also seeks public comment. The Fed described the […]
Flagstar Bank, FSB, of Troy, Mich., was hit with a $3.62 million civil money penalty (CMP) by its federal regulator in December, which identified a “pattern or practice” of violations of federal flood insurance requirements […]
Three California financial firms have been told to hire qualified management, beef up their boards and hire an outside consultant to probe insider trading at one of the firms, a bank. Tuesday, the Fed announced […]
In-house lending programs at for-profit colleges and post-secondary schools will be under the microscope of the federal consumer financial protection agency, according to an update to the agency’s exam procedures published Thursday. The Consumer Financial […]
Banks serving areas affected by the severe storms and straight-line winds and tornadoes in Tennessee the first half of December are being extended regulatory relief, including the prospect of Community Reinvestment Act (CRA) consideration, by […]
Effective processes to acquire, analyze, disseminate, and use relevant and actionable threat information to guide the supervision of financial institutions were not established by the federal insurer of bank deposits, according to an audit report […]
A permanent ban from consumer financial products and industries and a civil money penalty (CMP) of $500,000 are being sought in a final judgment that alleges a Chicago-based firm knowingly processed payments for companies engaged […]
Nearly half of banks surveyed said they had taken actions to reduce either the level or growth of their reserve balances in the last six months, according to a report of the results of a […]
Credit risk management, cybersecurity, and payment systems are the three top supervisory priorities for the federal credit union regulator, the agency said Tuesday. Overall, the National Credit Union Administration (NCUA) said in its letter to […]
Three nominations to serve on the Federal Reserve Board, including one to fill the now-vacant vice chair of supervision seat, were sent by the White House Thursday to the full Senate and await further action. […]
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