Consumer board – Regulatory Report

What's up

[ December 8, 2023 ] 9.5% increase for NCUA’s 2024 budget, funding mechanisms up for action next Thursday NCUA
[ December 8, 2023 ] Credit unions see rising delinquency rate at end of third quarter, but continue loan, savings, assets growth NCUA
[ December 7, 2023 ] No change in assessment for bank insurance fund, despite decrease in reserve ratio FDIC
[ December 7, 2023 ] VA bank to pay ‘no less than’ $5 million in consumer redress, $1.2 million fine for illegal overdraft practices CFPB
[ December 7, 2023 ] Inflation taking toll on financial stability – as well as raising chance of economic slowdown, report contends Other

CFPB Consumer Advisory Board

October 17, 2017 0

Federal Register summary: The Consumer Advisory Board of the CFPB will meet to discuss: Know Before You Owe: Reverse Mortgages; Financial well-being, trends and themes; payday, vehicle title, and certain high-cost installment loans. Meeting location: Hilton […]

9.5% increase for NCUA’s 2024 budget, funding mechanisms up for action next Thursday

December 8, 2023 0

The 2024-2025 budget of credit unions’ federal regulator, its liquidity facility for credit unions, and budgetary funding mechanisms make up the action agenda for the Dec. 14 meeting of the agency’s board. The National Credit Union Administration (NCUA) Board is [...]
Credit unions see rising delinquency rate at end of third quarter, but continue loan, savings, assets growth

December 8, 2023 0

Delinquency rates are up at credit unions as of the end of the third quarter, their federal regulator said late Thursday – while, at the same time, assets, savings and loans all increased, the agency said. In reporting on credit [...]
No change in assessment for bank insurance fund, despite decrease in reserve ratio

December 7, 2023 0

Despite the level of reserves in the fund insuring bank deposits falling relative to the savings covered by the insurance, there will be no change in assessment rates paid by banks, the agency overseeing the fund said Thursday. The Federal [...]
VA bank to pay ‘no less than’ $5 million in consumer redress, $1.2 million fine for illegal overdraft practices

December 7, 2023 0

Illegal overdraft practices are at the center of a consent order announced Thursday that requires Atlanta Union Bank (AUB), a subsidiary of Atlantic Union Bankshares Corporation (Richmond, Va.), to pay $5 million in redress to consumers and a $1.2 million [...]
Inflation taking toll on financial stability – as well as raising chance of economic slowdown, report contends

December 7, 2023 0

Inflation is elevating the threat to financial stability with “multiple indicators” signaling an upcoming economic slowdown, according to a report issued Thursday by the Treasury’s financial research arm. According to the 2023 annual report of the Treasury’s Office of Financial [...]
Credit risk on rise as interest rates balloon – for CRE in particular – OCC report finds

December 7, 2023 0

Higher interest rates are increasing credit risk to the nation’s banks, including in commercial real estate, the federal regulator of national banks said Thursday, noting that “key performance indicators are beginning to show signs of borrower stress across asset classes.” [...]