Other – Regulatory Report

What's up

[ March 30, 2023 ] Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks OCC
[ March 30, 2023 ] New small business lending reporting rule finalized after 13 years in the making CFPB
[ March 30, 2023 ] Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks The Fed
[ March 30, 2023 ] Credit union regulator lists 2023 criteria for collecting mortgage loan application data NCUA
[ March 29, 2023 ] May 3 is comment deadline for CFPB credit card late-fee proposal CFPB

CRE, residential home markets no risk to financial system for now – but weaknesses would be tested in recession, agency reports

March 23, 2023 0

Neither the commercial real estate (CRE) nor the residential real estate markets pose a significant risk to the U.S. financial system in the foreseeable future, but growing weaknesses in both will be tested in a […]

Accounting, disclosure of crypto assets would be improved under standards update, FASB says

March 23, 2023 0

Improving the accounting for and disclosure of certain crypto assets is the aim of a proposed accounting standards update (ASU) announced Thursday by the accounting profession. The Financial Accounting Standards Board (FASB) said the proposed […]

Modified home loan application registers now available for HMDA reporting

March 23, 2023 0

A modified loan/application register (LAR) is now available for every financial institution that has completed a Home Mortgage Disclosure Act (HMDA) submission, the umbrella group for federal financial institution regulators said Thursday. According to the […]

UPDATED: Developments in wake of bank failures continue to ripen; timeline offers a look back

March 22, 2023 0

Developments related to the failure of two large banks two weeks ago continued to emerge this week, with regulators promising a complete review of regulation and supervision, and even action for smaller banks should the […]

Appraisal panel plans survey to advance PAVE Task Force’s fight against bias in home valuations

March 22, 2023 0

The federal panel that oversees states’ real estate appraiser and appraisal management company (AMC) requirements is seeking comments on a proposed “appraiser profession survey” that will focus in good part on barriers to entry to […]

OFR working paper notes potential benefits, risks of fully integrated digital currencies

March 22, 2023 0

Theoretically, digital currencies that are fully integrated into the financial system may lead to improvement in household welfare and decrease financial system volatility but could weaken banking-sector stability, according to a working paper published Wednesday […]

Banking system stabilizing in wake of failures, Yellen says – but notes need to reexamine bank rules, supervision

March 21, 2023 0

The situation in the banking system is stabilizing, and the U.S. system remains sound in the wake of bank failures last week, the secretary of the Treasury told a bankers’ group Tuesday. However, she added, […]

Good timing: Financial stability conference to look at ‘novel set of challenges’ for system at November event

March 21, 2023 0

“Financial Stability in Times of Macroeconomic Uncertainty” is the topic for the November 2023 Financial Stability Conference, the Treasury’s financial research arm said Tuesday. In a release, the Treasury’s Office of Financial Research (OFR) said […]

Fed’s Bowman: Banking system remains resilient in wake of SVB, Signature Bank closures

March 14, 2023 0

Noting the steps federal banking regulators have taken in recent days to limit the direct and indirect U.S. financial system risks of the closures of Silicon Valley Bank (SVB) and Signature Bank, the Federal Reserve […]

RegReport takes spring break

March 13, 2023 0

Regulatory Report is taking a “spring break” this week to take advantage of improving weather, the World Baseball Classic and the kickoff of the NCAA basketball tournaments. With the exception of any major developments in […]

1 2 3 … 52 »

Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks

March 30, 2023 0

A new Office of Financial Technology, as well as the leader of that new department, was announced Thursday by the regulator of national banks. The new office, which the Office of the Comptroller of the Currency (OCC) said last fall [...]
New small business lending reporting rule finalized after 13 years in the making

March 30, 2023 0

A new rule requiring lenders to collect and report information about the small business credit applications they receive, including geographic and demographic data, lending decisions, and the price of credit, was finalized Thursday by the federal consumer financial protection bureau. [...]
Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks

March 30, 2023 0

Fines of nearly $98 million were assessed against the holding company of Wells Fargo bank Thursday for its “historical inadequate oversight of sanctions compliance risks” which resulted in more than $530 million in prohibited transactions over a five-year period. The [...]
Credit union regulator lists 2023 criteria for collecting mortgage loan application data

March 30, 2023 0

All credit unions with more than $54 million in assets will be required to collect data associated with mortgage loan applications processed in 2023, the federal credit union regulator said Thursday. In a “regulatory alert” (23-RA-02), the National Credit Union [...]