21sept29 – Regulatory Report

What's up

[ October 1, 2026 ] Agency finally closes down troubled credit union after embezzlement charges; Alabama CU assumes members, savings, some assets NCUA
[ October 1, 2026 ] FDIC ends independent monitor brought on to ensure ‘workplace culture’ reforms after sexual harassment claims FDIC
[ October 1, 2026 ] ‘Living wills’ feedback letters published for 15 banking orgs; OCC votes against releasing one plan FDIC
[ October 1, 2026 ] Failed California bank will cost bank insurance fund $114 million FDIC
[ September 25, 2026 ] Former teller leader prohibited for allegedly misappropriating nearly a quarter million dollars from cash dispenser machines The Fed

CFPB: Credit card debt dropped, digital engagement rose during pandemic; bureau looking to issuers for continued service improvements

September 29, 2021 0

Growth in the consumer credit card market in recent years reversed itself in 2020, with credit card debt falling to $811 billion by the second quarter of 2020 from a 2019 peak of $926 billion […]

Alert puts credit unions on notice: submissions to CFPB’s ‘Collect’ website can be made now (and note those deadlines)

September 29, 2021 0

Credit unions may begin submitting data on credit card agreements with their members, and applying data submission requirements, to the federal consumer financial protection agency’s website for collecting credit card information, the National Credit Union […]

Agency finally closes down troubled credit union after embezzlement charges; Alabama CU assumes members, savings, some assets

October 1, 2026 0

A troubled Mississippi credit union was closed and its members and savings (shares) were assumed by an Alabama Credit Union, the federal regulator announced late Wednesday. Jackson Area Federal Credit Union (FCU), of Jackson Miss., was closed and its members [...]
FDIC ends independent monitor brought on to ensure ‘workplace culture’ reforms after sexual harassment claims

October 1, 2026 0

Workplace culture reforms spawned by allegations of sexual harassment at the federal bank deposit insurance agency will no longer be overseen by an independent monitor, the agency said late Wednesday, asserting that the monitor’s work had concluded. The Federal Deposit [...]
‘Living wills’ feedback letters published for 15 banking orgs; OCC votes against releasing one plan

October 1, 2026 0

Feedback letters from 15 banking organizations with more than $250 billion in assets on their resolution plans were published Sept. 29 by the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), the agencies said. However, the Office of the [...]
Failed California bank will cost bank insurance fund $114 million

October 1, 2026 0

A failed California bank that was closed Sept. 25 is estimated to cost the federal bank deposit insurance fund about $114 million, the insurance fund said agency. The bank reopened Sept. 28 as a branch of a Utah bank as [...]
Former teller leader prohibited for allegedly misappropriating nearly a quarter million dollars from cash dispenser machines

September 25, 2026 0

Misappropriation of about $246,000 from teller cash dispenser machines has led to the prohibition of a former teller supervisor of a bank in the Maryland suburbs of Washington, D.C., the Federal Reserve said Thursday. According to the agency, Renee Nicole [...]