A reprogramming of more than $5.3 million of the credit union regulator’s budget – paid for largely by lower-than-expected employee pay and benefits – was approved by the regulator’s board Thursday. Additionally, the board announced, […]
A final rule on fidelity bonds for credit unions and a proposed policy statement on treatment of prohibition actions for minor, past or youthful transgressions were approved by the credit union federal regulator Thursday. Meeting […]
A cease-and-desist order, a prohibition and some $54,000 in money penalties and restitution against a former loan officer of First Southern National Bank (Lancaster, Ky.) are among the enforcement actions executed in June by the […]
More than one-in-four consumers with a credit report have at least one debt in collection by the nation’s 9,330 third-party debt collectors and buyers, according to a report issued this week by the federal consumer […]
A final rule for credit unions that raises to $1 million the threshold for commercial real estate transactions subject to required appraisals from state-certified appraisers was approved Thursday by the National Credit Union Administration (NCUA) […]
Suspicion that an older adult is the target or victim of financial exploitation should be reported by financial institutions to local, state or federal authorities – including through use of a Suspicious Activity Report (SAR) […]
Lending was reported on the upswing – but with a level of intensity mostly described as “moderate” – among Federal Reserve Banks reporting economic activity in their districts in the latest Beige Book. In the […]
Federal financial institution regulators are likely to advise privately held banks, credit unions and others that they have one more year to comply with new “current expected credit loss” (CECL) accounting standards following a proposal […]
No action will be taken enforcing Volcker Rule restrictions for certain foreign funds by the federal banking agencies for an additional two years, the agencies said Wednesday. In a release, the Federal Deposit Insurance Corp. […]
In Tuesday’s meeting of the Federal Deposit Insurance Corp. (FDIC) Board, Chairman Jelena McWilliams and Board Member Martin Gruenberg – the only two appointed members of the board – stood on opposite sides of two […]
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