Stanley Fischer, vice chairman of the Federal Reserve Board of Governors, has resigned effective Oct. 13, the central bank announced Wednesday. He joined the board in May 2014; his term was scheduled to end in […]
The new “current expected credit loss” (CECL) accounting standard is addressed in updated “frequently asked questions” (FAQs) issued by federal financial institution regulatory agencies, focusing on the methodology for estimating credit loss allowances and related […]
Surveys about usage of pre-paid card usage would be continued under a proposal by the Federal Reserve, to be published Thursday. Under the proposal, both the mandatory and voluntary versions of the “Government-Administered, General-Use Prepaid […]
Comments on CFPB quarterly data collection on aggregated student loan servicing metrics and borrower outcomes from student loan servicers are due Oct. 10, under a notice published Wednesday in the Federal Register. The bureau, in […]
Revised guidelines for banks to use in appealing material supervisory determinations to the FDIC – which expand the circumstances for appeals and “enhance consistency” with procedures of other federal banking agencies — are outlined in […]
Federal financial institution regulators are gearing up for the approach of Hurricane Irma, which may strike Florida or parts of the Gulf Coast as soon as this weekend. The Office of the Comptroller of the […]
Improvements mandated by post-crisis financial reforms – particularly in capital, liquidity, and risk management – and put into place by financial institutions are fending off the emergence of threats to the financial system, a Federal […]
Nominations for a new Comptroller of the Currency, and top regulatory supervisor at the Federal Reserve, will be considered Thursday by the Senate Banking Committee. The committee has scheduled votes on the nominations of Joseph […]
Establishment of low-risk checking or prepaid accounts at banks and credit unions, and use of “alternative data” in building credit records, continue to be goals of the Consumer Financial Protection Bureau (CFPB) in battling financial […]
Arguing that the financial system is more resilient because of reforms adopted in the wake of the “Great Recession” of the last decade, Federal Reserve Board Chairman Janet L. Yellen advised that any adjustments made […]
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