Borrowers who use “Buy Now, Pay Later” (BNPL) programs are more likely to exhibit measures of financial distress than non-users, and they are also more likely to be active users of high interest products including […]
Talks over a possible central bank digital currency (CBDC) will be held in coming months among leaders from key federal offices, including the White House, banking regulators and economic analysts, the Treasury’s top regulator of […]
Federal credit unions (FCUS) may continue to charge up to 18% interest on their loans, their federal regulator reminded them Wednesday in a letter, over the 18-month period that starts March 11. The National Credit […]
High fees through financial products that “chip away” at public benefits such as Social Security and unemployment compensation are highlighted by the federal consumer financial protection bureau in an Issue Spotlight made public Wednesday. The […]
A set of proposed revisions to the federal credit union regulator’s chartering and field-of-membership manual is out for comment until May 30, according to a notice in Tuesday’s Federal Register. The proposed rule was issued […]
A total of 605 federally supervised banks and savings institutions are slated for evaluation under the anti-redlining Community Reinvestment Act (CRA) by the Federal Deposit Insurance Corp. (FDIC) and Office of the Comptroller of the […]
Obtaining or attempting to obtain almost $2 million by fraud, including by stealing checks from the mail of churches and religious institutions, earned a Maryland man a conviction by a federal jury late last week, […]
Review of a “sandbox application” about consumer disclosures of a loan that finances both a construction phase and the permanent purchase of a home is in the final stages by the federal consumer financial protection […]
Two former credit union employees who allegedly, respectively, carried out ATM fraud and misappropriated members’ and credit union funds at their institutions are no longer permitted to work in any federally insured financial institution as […]
Net income for the nation’s banks declined in 2022 from the previous year but was still higher than the average posted by the institutions before the coronavirus crisis emerged in 2020, the federal bank deposit […]
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