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What's up
  • [ May 26, 2023 ] Directors from failed NOLA bank prohibited from further service or fined – or both FDIC
  • [ May 26, 2023 ] NCUA OIG: Loan and share account manipulation, BSA violations among reasons for recent small-credit union failures NCUA
  • [ May 26, 2023 ] Eight new members join FDIC’s advisory committee on community banking FDIC
  • [ May 25, 2023 ] NCUA staff project 1.25% share insurance fund ratio by June 30 NCUA
  • [ May 25, 2023 ] ‘Liquidity’ handbook gets updated, reflecting risks, changes in regulations OCC
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COVID-19 actions

Powell indicates no political pressure in cutting rates in response to economic impact of coronavirus

March 3, 2020 0

Cutting interest rates by half a percentage point was not action taken after political pressure was applied, the chair of the Federal Reserve Board indicated Tuesday, but was based on what the agency’s rate-setters believed […]

NCUA

Credit union regulator lectured on agency independence from White House during Senate hearing

December 5, 2019 0

A brief, but exacting, lecture on financial regulator independence was delivered by the top Democrat of the Senate Banking Committee to the top federal credit union regulator at a hearing Thursday in Washington. Sen. Sherrod […]

The Fed

Powell: Congress granted Fed ‘significant protections’ from short-term political pressures

October 9, 2019 0

Congress has granted the nation’s central bank “significant protections” from short-term political pressures – and the bank, in return, owes the public clear explanations about what, and why, it does what it does, the chair […]

The Fed

In memorializing predecessor, Powell lauds efforts to keep Fed free from political pressure

October 7, 2019 0

Calling one of his predecessors “responsible more than any other person” for an independent and non-politically pressured central bank, today’s chairman of the Federal Reserve referred to that predecessor’s view Monday in underscoring the Fed’s […]

The Fed

Powell: No political interference, negative interest rates ‘not at the top of our list’ of tools for economy

September 18, 2019 0

The independence of the nation’s central bank has served the public well, and the chairman of the bank’s board expects to continue his press conferences following meetings of interest rate policy-setting committees, he said Wednesday. […]

The Fed

UPDATED: Powell says if president calls, orders him to step down, ‘of course, I would not do that’

July 10, 2019 0

The chairman of the Federal Reserve Board said he would not step down if President Donald Trump ordered him to do so or declared he was fired from his position, the central bank leader told […]

The Fed

Powell: Fed independence serves country well; ‘bad things happen’ to countries with direct political control

June 25, 2019 0

Independence of the nation’s central bank from direct political control is an important feature that has served the country well, the chairman of the bank’s board said Tuesday. Speaking during a question and answer session […]

The Fed

Fending off Trump criticisms, Powell says political considerations ‘play no role’ in rate discussions

December 19, 2018 0

The Federal Reserve will continue to go about its business and not be distracted by political considerations, the chairman of the central bank’s board said Wednesday in backing the independence of his agency. He also […]

Today

  • Directors from failed NOLA bank prohibited from further service or fined – or both

    May 26, 2023 0
    Nine directors of a failed New Orleans bank were either prohibited from ever serving again at a federally insured financial institution, assessed a civil money penalty (CMP) – or both, in one case – in enforcement actions taken by the [...]
  • NCUA OIG: Loan and share account manipulation, BSA violations among reasons for recent small-credit union failures

    May 26, 2023 0
    The four small federal credit unions liquidated during the period covered by their regulator’s most recent inspector general report to Congress were closed for reasons including loan and share account manipulation, failure to address Bank Secrecy Act deficiencies, and generally [...]
  • Eight new members join FDIC’s advisory committee on community banking

    May 26, 2023 0
    Eight new members of a committee on community banking will take their seats for a June 1 meeting next week, the federal bank deposit insurance agency said Friday. The eight new members of the Advisory Committee on Community Banking (which [...]
  • NCUA staff project 1.25% share insurance fund ratio by June 30

    May 25, 2023 0
    The federal fund that insures credit union members’ shares (deposits) is expected to dip to 1.25% by June 30, down from the fund’s 1.3% ratio at year-end 2022, according to information released Thursday by the National Credit Union Administration (NCUA). [...]
  • ‘Liquidity’ handbook gets updated, reflecting risks, changes in regulations

    May 25, 2023 0
    The “liquidity” booklet of the national bank regulator’s handbook has been updated, reflecting risks associated with liquidity and changes in regulations since the booklet was last updated, among other things, the regulator said Thursday. According to the Office of the [...]
  • Three bankers join MDI subcommittee just in time for May 31 meeting

    May 25, 2023 0
    Three bankers from Wisconsin, the District of Columbia and Georgia are joining a subcommittee on minority depository institutions for the federal bank deposit insurance agency, it was announced Thursday. The Federal Deposit Insurance Corp. (FDIC) said the three bankers named [...]
  • Proposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

    May 25, 2023 0
    Federal credit unions would be authorized to contribute to qualified war veterans organizations through the use of charitable donation accounts (CDAs) under proposed rule issued Thursday by the National Credit Union Administration (NCUA) Board. The proposed rule would revise Part [...]
  • Bank enforcement manual revision targets larger, complex banks with ‘persistent weaknesses’

    May 25, 2023 0
    How the national bank regulator determines if a larger, more complex bank has persistent weaknesses, and possible additional actions the agency may take to address those, are reflected in revisions to the manual on bank enforcement released by the agency [...]

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