Borrowing by businesses is historically high, with the most rapid increases in debt concentrated among the riskiest firms amid weak credit standards, the Federal Reserve reported in its latest “financial stability report” for 2019. The […]
Screening and training requirements for financial institutions which employ loan originators with temporary authority are clarified under a rule released Friday by the federal consumer financial protection agency. The interpretive rule issued by the Consumer […]
Financial statements at the federal consumer financial protection agency are presented fairly and internal controls are effective, the congressional watchdog reported Friday in its annual, statutorily required financial audit of the agency. The Government Accountability […]
Various effective date delays for accounting standards on current expected credit losses (CECL) were finalized Friday by the accounting industry’s standards-setting group, one of which pushes the date to January 2023 for smaller financial companies, […]
The shift in some lending from banks to nonbanks is addressed in one of three reports issued by the federal insurer of deposits in banks Thursday, a project the agency called “a multi-part analysis of […]
The federal credit union regulator will consider a final, new policy regarding statutory prohibitions of individuals from financial institution service – called the agency’s “second chance” proposal – and a proposal on residential real estate […]
The Business Continuity Management booklet within federal financial institution regulators’ Information Technology Examination Handbook has been revised to emphasize the importance of ensuring financial institutions’ preparedness to avoid disruptions in operations and to recover services. […]
The federal regulator of credit unions is revising its Credit Union Profile form to collect information helpful to examiners in determining federally insured credit unions’ (FICUs) exposure to LIBOR – the London Interbank Offered Rate […]
The regulator of national banks will release its proposal next month for reforming anti-redlining regulations, but the agency likely won’t be joined by at least one of the other two federal banking agencies in the […]
Average “financial well-being” scores for adults aged 18 and older, assigned state by state by the federal agency charged with consumer financial protection, ranged from 50 to 54 out of a possible 100 based on […]
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