Minimizing consumer compliance risk with overdraft programs is the subject of separate guidance issued Wednesday by two federal banking regulators, particularly with programs that assess an overdraft fee on a transaction that was authorized against […]
Protecting consumers from unlawful discrimination created by automated systems using artificial intelligence (AI) and other emerging automated systems is the aim of a pledge made Tuesday by the federal consumer financial protection agency and three […]
A new federal credit union headquartered in New York City to serve primarily employees and members of the United Church of Christ – with 4,700 churches and about 745,230 members – is expected to begin […]
The National Credit Union Administration’s request for information (RFI) on climate-related financial risks to the credit union system was published in the Federal Register Tuesday with a comment deadline of June 26. The RFI, released […]
Title: Climate-Related Financial Risk Subject: Climate risk Agency: NCUA Status: Request for information and comment Summary: The NCUA is seeking public input on current and future climate and natural disaster risks to federally insured […]
Restitution of at least $4 million, and a civil money penalty of $1 million, is being sought from a former credit union leader for causing a substantial loss to his institution, the federal credit union […]
The federal bank deposit insurer has activated disaster-related regulatory relief measures for banks in areas of Indiana affected by severe storms, straight-line winds, and tornadoes. The Federal Deposit Insurance Corp. (FDIC) issued a Financial Institution […]
Proposed revisions to a framework for identifying risk from nonbank financial companies to financial stability that would, for the first time, publicly outline how financial stability is identified and assessed and how risks are mitigated […]
Average values of consumers’ and businesses’ ACH, check, and card payments increased substantially from 2018 to 2021, according to initial findings of the Federal Reserve’s 2022 triennial payments study, with ACH credited as the single-greatest […]
The elimination under revised accounting rules of recognition and measurement of troubled debt restructurings (TDRs) by creditors, and removal of references to TDRs, led to issuance Friday of an interagency policy statement by the three […]
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