The Fed – Page 3 – Regulatory Report

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[ September 20, 2019 ] WEEK AHEAD: Faster payments thoughts, insights from the Fed, ‘2nd chances’ on the agenda The Fed
[ September 20, 2019 ] Federal credit union agency board sets closed meeting for appeal NCUA
[ September 19, 2019 ] NCUA approves ‘PALs II’ allowing payday-alt loans up to $2,000 for 12 months NCUA
[ September 19, 2019 ] Accuracy of credit, background screening reports up for discussion in December CFPB
[ September 19, 2019 ] Kraninger gives outline of philosophy for bureau at opening of symposia session CFPB

Senate nears action on Fed Gov. Bowman’s next term

August 12, 2019 0

The president’s reappointment of Federal Reserve Board Gov. Michelle (“Miki”) Bowman to a full, 14-year term on the board could clear a routine procedural vote in the Senate shortly after that body resumes work Sept. […]

Regulation D: Reserve Requirements of Depository Institutions

August 12, 2019 0

Title: Regulation D: Reserve Requirements of Depository Institutions Subject: Interest on reserves Agency: Federal Reserve Status: Final rule Summary: The Board of Governors of the Federal Reserve System (“Board”) is amending Regulation D (Reserve Requirements […]

Regulation A: Extensions of Credit by Federal Reserve Banks

August 12, 2019 0

Title: Regulation A: Extensions of Credit by Federal Reserve Banks Subject: Primary, secondary credit Agency: Federal Reserve Status: Final rule Summary: The Board of Governors of the Federal Reserve System (“Board”) has adopted final amendments […]

Debit interchange transaction fee survey revisions proposed by Fed

August 9, 2019 0

(Updated Aug. 12, 2019) An interchange transaction fee survey that is completed annually by debit card issuers and payment card networks and submitted to the Federal Reserve would be renewed for three years with revisions […]

Fed reduces rates paid to Reserve Banks on primary, secondary credit

August 9, 2019 0

The rates depository institutions must pay the Federal Reserve Banks for primary and secondary credit extensions were both reduced by a quarter percentage point in July and were applicable Aug. 1, according to a Federal […]

Fed publishes cut in interest paid on Reg D reserves

August 9, 2019 0

Interest rates paid to banks are reduced by 25 basis points for reserve balance requirements and excess balances under a final rule by the Federal Reserve, according to a notice filed with the Federal Register […]

Federal Reserve Actions to Support Interbank Settlement of Faster Payments

August 9, 2019 0

Title: Federal Reserve Actions to Support Interbank Settlement of Faster Payments Subject: Faster payments Agency: Federal Reserve Status: Notice and request for comment Summary: The Board of Governors of the Federal Reserve System (Board) has […]

Fed faster-payments proposal in Federal Register Friday, out for 90-day comment period

August 8, 2019 0

The Federal Reserve’s plan to develop a round-the-clock, real-time payment settlement service – FedNow – is explained in detail in a notice for comment slated for publication in the Federal Register Friday, with a 90-day public […]

For first time in five months, Powell calendar draws a blank on meeting with Trump

August 7, 2019 0

Taking an apparent break from what had been (at least) a monthly exchange for four straight months, the June calendar for the chair of the Federal Reserve, released Wednesday, showed no meetings or conversations with […]

Fed proposes renewal, additions to SLHC registration statement

August 7, 2019 0

The form used by savings and loan holding companies (SLHCs) to register with the Federal Reserve Board is up for renewal, and the Fed is proposing to add a several items to this information collection […]

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WEEK AHEAD: Faster payments thoughts, insights from the Fed, ‘2nd chances’ on the agenda

September 20, 2019 0

Faster payments and speeches from Federal Reserve Board governors highlight the week ahead – along with some credit union comments due for “second chances.” Federal Reserve Board Vice Chairmen Richard H. Clarida and Randal Quarles speak on successive days about [...]
Federal credit union agency board sets closed meeting for appeal

September 20, 2019 0

A board appeal is the single agenda item slated for consideration by the National Credit Union Administration (NCUA) Board during a closed meeting Tuesday (Sept. 24) at 10 a.m. ET. NCUA says the meeting is closed under exemption (8) of [...]
NCUA approves ‘PALs II’ allowing payday-alt loans up to $2,000 for 12 months

September 19, 2019 0

Federally chartered credit unions will be permitted to provide their members “payday alternative loans” (PALs) of any amount up to $2,000, fully amortized over a term of one to 12 months, under a final rule approved Thursday on a 2-1 [...]
Accuracy of credit, background screening reports up for discussion in December

September 19, 2019 0

Issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports will be under discussion at an “accuracy in consumer reporting” workshop set for the second week of December, sponsored by two federal agencies that [...]
Kraninger gives outline of philosophy for bureau at opening of symposia session

September 19, 2019 0

Given its discretion to create rules for consumer protection in a new space outside of what Congress allows, the federal consumer financial protection agency should approach that responsibility “judiciously cognizant of unintended consequences,” the director of the agency said Thursday. [...]
Four prohibitions (and one pending) among comptroller’s August enforcement actions

September 19, 2019 0

A notice of charges for an order of prohibition and four consent orders for prohibition were issued last month by the Office of the Comptroller of the Currency (OCC), according to a release Thursday by the agency. According to the [...]
FDIC ombudsman office takes over post-exam survey process; one aim is to boost response

September 19, 2019 0

The federal regulatory agency charged with insuring bank deposits has shifted its post-examination process for federally insured institutions to its ombudsman office, according to a Financial Institution Letter (FIL) issued Thursday. The survey was previously administered by the Division of [...]
Fed terminates enforcement action with FL bank holding company

September 19, 2019 0

A 2010 enforcement action with Optimumbank Holdings, Inc., of Fort Lauderdale, Fla., was terminated Sept. 11 by the Federal Reserve Board, the Fed said in a release Thursday. The Fed said Optimumbank Holdings is a registered bank holding company that [...]
Powell: No political interference, negative interest rates ‘not at the top of our list’ of tools for economy

September 18, 2019 0

The independence of the nation’s central bank has served the public well, and the chairman of the bank’s board expects to continue his press conferences following meetings of interest rate policy-setting committees, he said Wednesday. He also said that negative [...]