A report that includes data on 22% of all residential mortgage debt outstanding – 12 million loans totaling $2.7 trillion in principal balances – in the U.S. shows that the performance of first-lien mortgages declined […]
Acting Comptroller of the Currency Michael Hsu has added a new role and title to his duties: chair of the umbrella group for the federal financial institution regulators, the group said Friday. Hsu was named […]
Two former workers at credit unions in Massachusetts and Pennsylvania, respectively, were prohibited from working in a credit union or any other federally insured depository institution this month, the federal credit union regulator said Friday. […]
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 […]
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 […]
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” […]
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 […]
Revised rules implementing anti-redlining statutes will “support more impactful bank lending, investing, and services in today’s banking environment,” the Federal Reserve’s top supervisor said Wednesday – but he gave no date for when those rules […]
Instructions and guidance for submitting first-quarter 2023 bank call report data are provided with a Financial Institution Letter (FIL) issued Wednesday by the Federal Deposit Insurance Corp. (FDIC). The call reports, covering the period from […]
A proposal issued Feb. 1 aimed at better ensuring that late fees charged on credit card accounts are “reasonable and proportional” – for example, capped at $8 for late credit card payments – has a […]
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