Facilitating the sharing of member-to-member (MTM) communications when a federally insured credit union is merging with another is addressed in a letter to credit unions (LTCU) published Monday by their federal regulator. The National Credit […]
The sixth 2018 liquidation of a federally insured credit union was announced Monday by the National Credit Union Administration (NCUA): LOMTO Federal Credit Union (Woodside, N.Y.) was closed Sunday, with its members, most shares, some […]
Changes to the Federal Reserve’s Regulation A reflecting an increase in the rate for primary credit to 2.75% at Federal Reserve Banks will be made under a notice filed for publication in the Federal Register, […]
An exemption from Bank Secrecy Act (BSA) customer identification program rules for loans made for the purchase of property and casualty insurance was approved by federal regulators Friday, effective as of Sept. 27, 2018. The […]
A text message to a bank branch manager and head teller ultimately led to the uncovering of a fraud of nearly $900,000 from a Tennessee bank, according to a report released Friday by the federal […]
Changes in bank call reports and others to address revised credit-loss accounting and changes required by this year’s financial regulatory relief measure are proposed by regulators in a joint notice published Friday in the Federal […]
The nomination of Jean Nellie Liang to be the next – and final – member of the Federal Reserve Board was sent to the Senate, the White House said Friday. If confirmed, she would serve […]
Guidelines and rescissions for “prompt corrective action” (PCA) for national banks and federal savings associations have been updated by the institutions’ federal regulator in a bulletin issued Friday – but it does not reflect changes […]
Five former credit union employees, one of whom was ordered to pay $1 million in restitution in addition to serving prison time for her crimes, have been barred from future involvement in the affairs of […]
The financial system today is much stronger today than 10 years ago, when the financial crisis began, and in better position to handle needs of both households and businesses – largely through efforts of the […]
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