A final rule that provides an exception allowing longer than the standard withdrawal period for certain bank- or savings association-administered collective investment funds (CIF) was made final Friday by the Office of the Comptroller of […]
A Chicago-based futures and options trading firm is recommended as the administrator for the Federal Reserve’s alternative to the London Interbank Offered Rate (LIBOR), which is scheduled to be discontinued at year’s end. The Fed’s […]
The firm 3rd Generation, Inc., doing business as California Auto Finance (California Auto), will repay a total of $565,813 to 5,782 consumers plus a $50,000 civil money penalty for illegally charging interest on its loss […]
Ratios used to determine whether a bank may establish or buy a branch (or branches) without triggering prohibitions on doing so primarily for producing deposits were released Friday by federal banking agencies. The “host state […]
A final rule to modernize and make its derivatives rule for federal credit unions more principles-based was approved on a vote of 3-0 by the National Credit Union Administration (NCUA) Board, which made three changes […]
The development and enablement of a central bank digital currency (CBDC) for use by the general public is among the technological advances being explored by the Federal Reserve, the agency’s board chair said in a […]
Credit unions continue to be spared a federal share insurance premium, for now. The equity ratio of the federal fund that insures savings in credit unions is projected to drop to 1.22% by this June […]
Giving his agency examination and enforcement authority over third-party vendors and making key changes to the structure of the federal savings insurance fund for credit unions were the top legislative requests made to a House […]
Four urgent problems – including digitalization of banking finance – face the banking system, the acting leader of the federal regulator of national banks told a House panel Wednesday. Acting Comptroller of the Currency Michael […]
While the supervisory framework of the Federal Reserve was tested – and found to work – in the face of the financial impact of the coronavirus crisis, there are other areas that were found to […]
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