The Fed – Page 34 – Regulatory Report

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[ May 17, 2024 ] Bureau, facing legal challenges, plans extending compliance date for small business lending rule CFPB
[ May 17, 2024 ] Fed Board denies requests for regulatory action on changes to CAMELS ratings, disclosure of ‘Black Lives Matter’ support The Fed
[ May 17, 2024 ] Arkansas bank with Michigan loan production office agrees to settlement of $1.5 million, worker enforcement actions FDIC
[ May 17, 2024 ] Credit union regulator sets report on savings insurance fund, with or without chairman’s attendance NCUA
[ May 16, 2024 ] ‘CFPB here to stay’ director vows following high court’s ruling that funding mechanism is constitutional CFPB

Rising housing costs – offset by bank reserves, strong household balance sheets – not a financial stability threat yet, Fed governor asserts

March 24, 2022 0

The sharp and ongoing recent increase in home prices poses less risk to financial stability than similar increases in the mid-2000s, a Federal Reserve Board governor indicated Thursday. In a speech to a conference titled […]

Former MO bank employee barred from future FI service

March 23, 2022 0

A former field marketing manager for Rabo AgriFinance LLC (Chesterfield, Mo.), a nonbank subsidiary of foreign financial holding company Cooperatieve Rabobank U.A., has been barred from future service in any federally insured financial institution under […]

Agencies propose to formalize rules allowing electronic means for admin proceedings

March 23, 2022 0

Updates intended to modernize policies and procedures for administrative proceedings at bank and credit union regulators were proposed Tuesday by the agencies. Specifically, the agencies said the proposal was intended to align the rules with […]

Fed reports $107.9 billion in 2021 earnings; Reserve Banks’ assets soar to $8.8 trillion

March 21, 2022 0

Sharp increases in Federal Reserve System earnings and Reserve Bank assets are reported in 2021 audited financial statements released Monday by the central bank. Highlights from the statements show an increase of $19.4 billion in […]

UPDATED: Biden signs bill ‘closing the book’ on LIBOR as reference rate; ‘tough’ legacy contracts addressed

March 16, 2022 0

Legislation that would address “tough legacy” contracts under a now-defunct interest rate reference was approved by the Senate 68-31 March 10 and signed into law by President Joe Biden (D) Tuesday. The legislation, part of […]

Raskin withdraws from consideration for Fed Board; Biden urges swift action on remaining Fed nominees

March 15, 2022 0

Lacking support of a key Democrat and moderate Republicans, Sarah Bloom Raskin on Tuesday withdrew as the president’s nominee to take the top supervision post at the Federal Reserve Board, reports said. President Joe Biden […]

Order seeks ‘coordinated approach’ to digital assets; outlines need for oversight, rules, CBDC exploration

March 9, 2022 0

A “coordinated and comprehensive approach” to digital asset policy is the aim of an executive order issued early Wednesday by President Joe Biden (D) that is widely viewed as a first step toward regulation of […]

Comments due April 22 on supplement to proposed Reserve Bank account access guidelines

March 8, 2022 0

A supplemental notice to the Federal Reserve’s May 2021 proposal on factors used by the Federal Reserve Banks when considering account and payment service requests is out for public comment until April 22. The supplemental […]

Guidelines for Evaluating Account and Services Requests

March 8, 2022 0

Title: Guidelines for Evaluating Account and Services Requests Subject: Reserve Bank account access Agency: Federal Reserve Status: Supplemental notice and request for comment Summary: The Board of Governors of the Federal Reserve System (Board) is […]

Fed Board names 6 new community advisory panel members

March 4, 2022 0

Six new members of the Federal Reserve Board’s Community Advisory Council (CAC), appointed to three-year terms, were announced by the Fed Friday. The CAC includes experts and representatives of consumer, workforce, and community development organizations […]

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Bureau, facing legal challenges, plans extending compliance date for small business lending rule

May 17, 2024 0

More time will be allowed to comply with a small business lending rule issued last year by the consumer financial protection agency, it said Friday, “in light of court orders in ongoing litigation.” The Consumer Financial Protection Bureau (CFPB) said [...]
Fed Board denies requests for regulatory action on changes to CAMELS ratings, disclosure of ‘Black Lives Matter’ support

May 17, 2024 0

Two requests for regulatory action – one on disclosure of financial commitments to corporate initiatives – including “Black Lives Matter” — the other on changes to the agency’s rating system for banks — were denied by the Federal Reserve Board, [...]
Arkansas bank with Michigan loan production office agrees to settlement of $1.5 million, worker enforcement actions

May 17, 2024 0

An Arkansas bank operating a loan production office in Michigan has agreed to a $1.5 million civil money penalty (CMP), and nine former employees of the bank have stipulated to individual enforcement actions, the federal bank deposit insurance agency said [...]
Credit union regulator sets report on savings insurance fund, with or without chairman’s attendance

May 17, 2024 0

A quarterly report on the federal insurance program for savings at credit unions is the only item appearing on the May meeting of the credit union regulator’s board, the agency said late Thursday. The National Credit Union Administration (NCUA) Board [...]
‘CFPB here to stay’ director vows following high court’s ruling that funding mechanism is constitutional

May 16, 2024 0

The funding mechanism of the federal consumer financial protection agency is neither novel nor unusual, but an “essential part of the nation’s financial regulatory system,” the director of the agency said in a statement Thursday following a U.S. Supreme Court [...]