11nov15 – Regulatory Report

What's up

[ April 21, 2025 ] Credit union regulator leader asserts he can lead agency alone, without two fired board members NCUA
[ April 18, 2025 ] 2 agencies OK Capital One-Discover Bank merger conditioned on Discover’s fixes to interchange fee practices, payment of $250 million in fines, $1.225 billion in restitution FDIC
[ April 18, 2025 ] Judge blocks firing of 90% of CFPB staff, at least for now, as she studies whether action violates previous order CFPB
[ April 18, 2025 ] Bridge bank, hypothetical failure scenario no longer required in resolution planning requirements for large banks FDIC
[ April 18, 2025 ] Fed proposes changes in stress tests, including by averaging results over two consecutive years The Fed

Credit union fidelity bond rule changes out for comment

November 15, 2018 0

Rules on fidelity bond requirements for corporate credit unions and natural-person credit unions would, among other things, codify authority for coverage of certain service organizations under a proposed rule issued for public comment Thursday by […]

Credit union regulator leader asserts he can lead agency alone, without two fired board members

April 21, 2025 0

“Precedent and standing delegations of authority” are in place to continue performing all operational and statutory requirements with only one board member for the federal credit union regulator, that sole panelist said in a message released publicly late Friday. However, [...]
2 agencies OK Capital One-Discover Bank merger conditioned on Discover’s fixes to interchange fee practices, payment of $250 million in fines, $1.225 billion in restitution

April 18, 2025 0

A merger of Discover Bank, Greenwood, Del., into Capital One, National Association, McLean, Va., was approved by two federal banking regulators Friday on condition that Discover Bank and its affiliates satisfy requirements of a consent order that cites “deficiencies” in [...]
Judge blocks firing of 90% of CFPB staff, at least for now, as she studies whether action violates previous order

April 18, 2025 0

A federal judge blocked the Trump administration’s plan to fire approximately 1,500 staff – about 90% — at the federal consumer financial protection agency Friday, saying she was considering whether the action violated a previous order she had issued. The [...]
Bridge bank, hypothetical failure scenario no longer required in resolution planning requirements for large banks

April 18, 2025 0

Resolution plans for large banks will no longer require the institutions to use a bridge bank strategy and a hypothetical failure scenario in the plan, the federal insurer of bank deposits said Friday. In a release, the Federal Deposit Insurance [...]
Fed proposes changes in stress tests, including by averaging results over two consecutive years

April 18, 2025 0

Changes in annual stress tests for large banks – including by averaging test results over two consecutive years – were issued for public comment late Thursday by the Federal Reserve. In a release, the agency said the proposed changes in [...]