The Fed – Page 67 – Regulatory Report

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[ April 18, 2024 ] Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank OCC
[ April 18, 2024 ] Credit union regulator seeks comments on how to improve, update records retention rules NCUA
[ April 18, 2024 ] Ombudsman’s report notes banker frustration over lack of communication with FDIC FDIC
[ April 18, 2024 ] OCC publishes semiannual interest rate risk report for midsize, community banks OCC
[ April 17, 2024 ] False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO CFPB

Federal financial regulators, separately but united, announce proposal codifying supervisory guidance

October 29, 2020 0

A proposal outlining and confirming federal financial institution regulators’ use of supervisory guidance for regulated institutions was issued for a 60-day comment period, the regulators announced Thursday. In individual press releases, the federal banking agencies, […]

Threshold for the Requirement To Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds That Begin or End Outside the United States, and Clarification of the Requirement To Collect, Retain, and Transmit Information on Transactions Involving Convertible Virtual Currencies and Digital Assets With Legal Tender Status

October 27, 2020 0

Title: Threshold for the Requirement To Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds That Begin or End Outside the United States, and Clarification of the Requirement To Collect, Retain, and […]

UPDATED: Reg capital, LCR provisions to neutralize effects of participation in certain COVID-19 emergency facilities adopted as final

October 27, 2020 0

Three interim final rules in place since the spring to mitigate the effects on capital and the liquidity coverage ratio (LCR) in banks making use of certain Federal Reserve emergency funding facilities have been adopted […]

Proposal would amend recordkeeping, travel rules under BSA, lowering international transaction base

October 23, 2020 0

Amending the recordkeeping and travel rule regulations under the Bank Secrecy Act is the focus of a proposed rule issued Friday by the Federal Reserve and the Treasury’s financial law enforcement arm. The Fed and […]

Goldman Sachs fined $154 million by Fed over failures that allowed scheme against 1MDB to proceed

October 22, 2020 0

Failures in oversight, internal controls, and risk management that prevented Goldman Sachs Group, Inc., from detecting a “far-reaching” fraud scheme among its own employees and others against its client 1Malaysia Development Berhad (1MDB) drew a […]

Although economic activity is on upswing, Beige Book finds ‘considerable uncertainty’ about the future remains prevalent

October 21, 2020 0

Economic activity is increasing across the country, but a “considerable degree of uncertainty” for the future outlook is prevalent in many areas, according to the latest snapshot of economic activity released Wednesday by the Federal […]

Brainard calls CRA modernization critical to addressing growing scarcity of affordable housing

October 20, 2020 0

Challenges facing low- to moderate-income (LMI) and minority renters and would-be homeowners underscore the importance of getting modernization of anti-redlining laws right, the point person for the Federal Reserve’s efforts on the issue said Tuesday. […]

Fed C&D order cites bank employee for unsafe, unsound practices

October 20, 2020 0

A consent order to cease and desist has been executed with a bank employee of First Savings Bank, Jefferson, Ind., related to that individual’s supervision of the bank’s loan production office in Louisville, Ky., according […]

Quarles: FSB report will identify policy goals to make nonbank sector more resilient

October 20, 2020 0

A Financial Stability Board (FSB) report to the G20 Summit next month will give a diagnosis of the financial stability shock related to the coronavirus (COVID-19) pandemic and identify areas for possible policy action, including […]

Clarida underscores MDI focus in Fed’s CRA proposal

October 19, 2020 0

The advance notice of proposed rulemaking intended to modernize the Federal Reserve’s Community Reinvestment Act (CRA) rules will also make provisions focused on minority depository institutions (MDIs) more prominent and clear, the Fed’s vice chair […]

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Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank

April 18, 2024 0

Another individual associated with a troubled lending program at a Southfield, Mich., bank has been ordered to pay a $400,000 civil money penalty (CMP), the national bank regulator said Thursday. The Office of the Comptroller of the Currency (OCC) said [...]
Credit union regulator seeks comments on how to improve, update records retention rules

April 18, 2024 0

Finding methods for improving and updating the records preservation program regulations and accompanying guidelines of the federal credit union regulator is the goal of an advance notice of proposed rulemaking (ANPR) issued Thursday by the agency’s board. The National Credit [...]
Ombudsman’s report notes banker frustration over lack of communication with FDIC

April 18, 2024 0

Challenges faced by the federal bank deposit insurance agency in its supervisory processes and the feedback received from regional ombudsmen and bankers are outlined in the agency ombudsman’s annual report, issued Thursday. The 2023 report from the Federal Deposit Insurance [...]
OCC publishes semiannual interest rate risk report for midsize, community banks

April 18, 2024 0

Interest rate risk (IRR) data gathered during examinations of midsize and community banks and federal savings associations (FSA) by the national bank regulator was published Thursday by the agency. The report, the Office of the Comptroller of the Currency’s (OCC) [...]
False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO

April 17, 2024 0

Deceiving students about the cost of loans and making false claims about graduates’ hiring rates have led to a consent order and a civil money penalty (CMP) against a San Francisco-based, for-profit vocational school and its CEO, the federal consumer [...]
‘Cautiously optimistic’ economic outlook noted in latest Beige report

April 17, 2024 0

Mixed results on consumer spending, “roughly flat” bank lending and some increases in residential construction and tourism were noted by the Federal Reserve in its April Beige Book report on economic conditions. The report is based on information collected on [...]