A tiny new federal credit union, just chartered in December 2024, was closed Friday by the National Credit Union Administration (NCUA), which said it found the credit union to be insolvent and in violation of […]
The latest life-of-loan factors for credit unions are provided in the latest update of the federal regulator’s tool for calculating expected credit losses, the agency said Monday. The National Credit Union Administration (NCUA) said the […]
Annual stress tests results will be released June 27, the Federal Reserve said Friday, adding that the document providing details about the models used in the test are now public. This year’s stress tests covered […]
Eight recommendations for governance and process improvements and a discussion of the federal credit union regulator’s continuing need for third-party oversight authority are highlights of a new inspector general report on the agency’s cyber threat […]
Net worth of households nationwide fell by $1.6 trillion in the first quarter of the year, while households debt increased by a 1.9% annual rate in the same period, the Federal Reserve said Thursday. In […]
Lack of compliance with some of the federal bank deposit insurance agency’s acquisition policies and procedures thwarted its ability to ensure proper contract oversight management during the failure of three large regional banks in 2023, […]
Jonathan McKernan, previously nominated to be director of the Consumer Financial Protection Bureau (CFPB), is now instead nominated to succeed former Treasury Under Secretary for Domestic Finance Nellie Liang, who reportedly resigned from the post […]
Federal Reserve Board Gov. Michelle W. Bowman was sworn in Monday as the board’s vice chair for supervision, with Fed Chair Jerome H. (“Jay”) Powell administering the oath of office, the Fed announced. Bowman was […]
A demand to jettison regulations that pre-empt state consumer financial laws was denied Monday by the national bank regulator, who told a group of state supervisors that the national rule is compliant with federal law […]
Pragmatism, analysis and cost effectiveness are three key principles the new top supervisor at the Federal Reserve will use in her role, she told an audience in Washington Friday. Michelle W. Bowman, the new vice […]
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