Five of the 15 banks whose Community Reinvestment Act (CRA) ratings were made public in October received the rating of “outstanding,” according to information posted Wednesday by the national bank regulator. The Office of the […]
Background screeners that use “name-only matching” to verify the identity of job or housing applicants are violating federal law, according to an advisory opinion announced Thursday by the Consumer Financial Protection Bureau (CFPB). “Regulators are […]
Two banks received “outstanding” ratings for compliance with anti-redlining rules, while one received a rating of “significant non-compliance” in recent evaluations by the federal insurer of bank deposits. The Federal Deposit Insurance Corp. (FDIC) said […]
Climate change poses “significant challenges” to the safety and soundness of financial institutions and the stability of the financial sector more broadly, the Federal Reserve said in a statement issued Wednesday. The Fed assertion was […]
Credit unions are encouraged to participate in the free program that helps members address their federal income taxes; credit unions have until Nov. 15 to contact the IRS about their interest in participating, the federal […]
If you live in a Black or Hispanic neighborhood, or are young with a low credit score, you are “far more likely” to have a dispute appear on your credit report, according to new research […]
A closed meeting of the National Credit Union Administration (NCUA) Board is slated for 10 a.m. Thursday to address a supervisory action, according to a scheduled Federal Register notice. The meeting is closed from public […]
A new Office of Minority and Community Development Banking to support the agency’s ongoing engagement with minority depository institutions (MDIs), community development financial institutions (CDFIs), and other “mission-driven” banks was announced Tuesday by the chairman […]
Credit unions should advance diversity, equity, inclusion, and belonging by embracing those concepts across their institutions – members, employees, and other credit unions, the board chairman for the federal credit union regulator said Tuesday. In […]
The overall information security program at the Federal Deposit Insurance Corp. (FDIC) was deemed to be operating at a “maturity level” 4 (out of a possible 5) in an audit report released recently by the […]
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