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[ April 3, 2020 ] W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis) FDIC
[ April 3, 2020 ] Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions FDIC
[ April 3, 2020 ] Banking agencies’ interim rule delaying CECL impact out for comment until May 15 FDIC
[ April 3, 2020 ] Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act CFPB
[ April 3, 2020 ] 30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows CFPB

W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis)

April 3, 2020 0

The second bank failure of the year was reported Friday by the federal insurer of bank deposits, as it announced a purchase and assumption for a West Virginia institution with another from the Mountain State. The First State Bank of [...]
Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions

April 3, 2020 0

The comment period on proposed rule changes on brokered deposits restrictions applicable to less-than-well-capitalized banks is extended 60 days to June 9, according to the Federal Deposit Insurance Corp. (FDIC), which pointed to the challenges associated with the coronavirus (COVID-19). [...]
Banking agencies’ interim rule delaying CECL impact out for comment until May 15

April 3, 2020 0

Federal banking agencies’ recent decision to delay the estimated impact on regulatory capital stemming from implementation of the accounting industry governing board’s current expected credit losses (CECL) standard took effect officially on March 31, and regulators are accepting comments from [...]
Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act

April 3, 2020 0

A video and a guide to “mortgage relief options” have been developed by the federal consumer financial protection agency with an eye, the agency says, toward explaining to consumers how they can score mortgage forbearance if their finances are affected [...]
30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows

April 3, 2020 0

Of total complaints received by the federal consumer financial protection agency in fiscal 2019 (Oct. 1, 2018, to Sept. 30, 2019), nearly one-third of them – 10,500, or 30% – were about credit or consumer reporting, according to a report [...]
Four banks ‘outstanding,’ 63 ‘satisfactory’ under CRA, FDIC reports

April 3, 2020 0

Of the 67 banks whose Community Reinvestment Act (CRA) ratings were assigned in April, none was found wanting, with four rated ‘outstanding’ and 63 rated ‘satisfactory,’ the federal bank deposit insurer reported Friday. In April, the Federal Deposit Insurance Corp. [...]
CFPB says supervision is ongoing, with adjustments due to coronavirus pandemic

April 2, 2020 0

The federal agency responsible for consumer financial protection on Thursday said it is continuing to conduct supervision with consumer protection in mind, but examinations and other supervisory work is being carried out remotely “for the time being” due to the [...]