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What's up
  • [ July 1, 2025 ] NCUA shutters small IL credit union after 12-day conservatorship; third to close in two weeks NCUA
  • [ July 1, 2025 ] Seven banks – including Bank of China branches – earn top ratings for CRA compliance OCC
  • [ June 30, 2025 ] Fed: 2025 stress test shows banks ‘well positioned’ to withstand severe recession The Fed
  • [ June 30, 2025 ] Risk on rise for banks in three key areas, OCC reports, as economic uncertainty increases OCC
  • [ June 30, 2025 ] Citing imminent insolvency, credit union regulator closes doors of OH cooperative; members, accounts transferred to another NCUA
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20mar09

CFPB

In joint statement, regulators urge financials to work constructively with customers in areas affected by coronavirus

March 9, 2020 0

Financial institutions should work constructively with borrowers and other customers in communities affected by coronavirus outbreaks, federal financial regulators and their state counterparts said in a joint statement issued Monday. The five federal financial regulatory […]

CFPB

Charges allege big bank took actions with consumers’ accounts – but left them in the dark

March 9, 2020 0

Taking actions on accounts without consumers’ knowledge or consent – including opening deposit and credit-card accounts in their names, transferring funds from their existing accounts to improperly opened accounts, and enrolling them in unauthorized online-banking […]

CFPB

THIS WEEK: Kraninger before Senate Banking; Wells Fargo testimony; CFPB council meetings; NCUA meeting agenda

March 9, 2020 0

This week “springs forward” on the financial regulatory front, with consumer bureau director Kathleen Kraninger testifying before the Senate Banking Committee, Wells Fargo officials getting grilled in the House Financial Services Committee, a webinar on […]

OCC

OCC pulls the plug on more than 200 ‘issuances’ for savings institutions from defunct OTS

March 9, 2020 0

Rescission of more than 200 advisory letters, circulars, bulletins, and other documents or issuances affecting federal savings institutions formerly regulated by the former Office of Thrift Supervision (OTS) was announced Friday by the institutions’ latest […]

OCC

Otting tours Memphis to continue promotion of proposed CRA rule changes

March 9, 2020 0

The comptroller of the currency toured Memphis last week to highlight successful examples of community reinvestment and promote the current proposed rule to update anti-redlining rules, according to a release with an issue date of […]

COVID-19 actions

Fed reduces primary credit rate, Reg D reserves interest rates to meet fed funds rate cut

March 9, 2020 0

Last week’s emergency 0.5% reduction in the federal funds rate target was followed by corresponding reductions in the rate that Federal Reserve Banks will charge on primary and secondary credit and the rate paid on […]

FDIC

Fed, FDIC seek comments on resolution plan guidance for foreign banks

March 9, 2020 0

Proposed changes to guidance for resolution plans (or “living wills”) submitted by large foreign banks – including plans due July 1, 2021 – were announced Friday by the Federal Reserve Board and the Federal Deposit […]

NCUA

UPDATED: Six weeks later, proposed credit union subordinated debt rule finally to begin four-month comment period

March 9, 2020 0

A proposed rule on subordinated debt for credit unions was published Tuesday in the Federal Register, officially opening the four-month-long comment period on the proposal, six weeks after the regulator board voted to issue it […]

COVID-19 actions

Council issues guidance on pandemic preparedness just days before markets feel latest, severe impact

March 9, 2020 0

With a spreading coronavirus, cratering stock market, and new fears about a global recession emerging as background Monday, regulators began applying updated guidance that financial institutions should follow to minimize potential adverse effects of a […]

NCUA

Workday strip-club visits, alcohol use, consumption of pot ‘edibles’ cited in OIG report on NCUA’s former top lawyer, deputy

March 6, 2020 0

The former general counsel of the National Credit Union Administration (NCUA), then also the agency’s designated ethics official, retired from the agency a day after his interview with the agency inspector general’s office over allegations […]

Today

  • NCUA shutters small IL credit union after 12-day conservatorship; third to close in two weeks

    July 1, 2025 0
    A tiny credit union that was placed into conservatorship June 18 was closed by its federal regulator July 1, the agency said in a release that alleged violations of federal law and rules. It is the third credit union the [...]
  • Seven banks – including Bank of China branches – earn top ratings for CRA compliance

    July 1, 2025 0
    Seven banks – including two branches of the Bank of China – received the highest ratings for compliance with rules implementing anti-redlining laws, according to scores released Tuesday by the national bank regulator. The ratings for compliance with Community Reinvestment [...]
  • Fed: 2025 stress test shows banks ‘well positioned’ to withstand severe recession

    June 30, 2025 0
    The 22 large banks subjected to the Federal Reserve Board’s 2025 stress test reportedly are “well positioned” to withstand a hypothetical, severe recession while remaining above their minimum capital requirements and continuing to lend to households and businesses, the Fed [...]
  • Risk on rise for banks in three key areas, OCC reports, as economic uncertainty increases

    June 30, 2025 0
    Economic uncertainty has increased as consumer sentiment, geopolitical risk, sustained higher interest rates, and downward movement in some macroeconomic indicators have all had their impact on threats to the banking system, the national bank regulator said Monday. In its Semiannual [...]
  • Citing imminent insolvency, credit union regulator closes doors of OH cooperative; members, accounts transferred to another

    June 30, 2025 0
    A Middletown, Ohio, credit union has been closed and its members and their accounts moved to a Cincinnati, Ohio, credit union, the federal regulator said Monday. Butler Heritage Federal Credit Union (FCU) of Middletown was liquidated by the National Credit [...]
  • 2 former credit union employees barred from future work in insured FIs

    June 30, 2025 0
    A former employee of a Kansas credit union and one from a credit union in Pennsylvania are barred from participating in the affairs of any federally insured depository institution, the federal credit union regulator said Monday. The National Credit Union [...]
  • Texas bank became second to fail so far this year

    June 30, 2025 0
    A Santa Anna, Texas, bank was closed late Friday by the national bank regulator, becoming the second bank to fail so far this year. Santa Anna National Bank was closed by the Office of the Comptroller of the Currency (OCC), [...]

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