A Louisiana farmer who lied to various banks and other agriculture-related credit firms in order to steal more than $18 million through phony loans received a 10-year prison sentence (among other things) by a federal […]
A former worker of a California bank has agreed to be prohibited from future employment at any other financial institution following charges the employee stole more than $100,000 from a bank customer, the Federal Reserve […]
Title: Permissible interest on loans that are sold, assigned, or otherwise transferred Subject: Valid when made Agency: OCC Status: Final rule Summary: Federal law establishes that national banks and savings associations (banks) may charge interest […]
Regulatory action on banks’ derivatives contracts exposures and the definition of high volatility commercial real estate (“HVCRE”) exposure, a final rule on credit union real estate appraisal requirements, and a public briefing on the federal […]
Of the bureau’s total staffing in fiscal 2019, approximately 44% was dedicated to supervision, enforcement and fair lending, the Consumer Financial Protection Bureau (CFPB) shows in its financial report for the period. The report, released […]
An interest rate on a consumer loan purchased from a bank by a nonbank would continue to be valid after the loan is transferred, essentially overturning the so-called “Madden decision,” the federal regulator of national […]
The Federal Reserve will continue to set monetary policy based on careful, objective and non-political analysis, the chair of the central bank told the president of the United States Monday, the Fed said. In their […]
Improvements in the timeliness and source linkages for community development award data reported to Treasury by the National Credit Union Administration (NCUA) are recommended in a Nov. 8 report of the credit union regulator’s Office […]
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 […]
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