Following an independent assessment by the Federal Reserve, bank-specific results will be released before year’s end from a second round of bank stress tests that start next month aimed at gauging the financial impact of […]
The portion of first-lien mortgages that were current and performing declined 5 percentage points in the second quarter of 2020, year over year, according to a report released Wednesday by the Office of the Comptroller […]
Costs to financial institutions for complying with Bank Secrecy Act/anti-money laundering (BSA/AML) requirements generally tend to be proportionally greater for smaller banks than for larger banks, the congressional watchdog said in a report issued Tuesday. […]
An interpretive letter released this week gives the nod to federally chartered banks and savings associations holding reserves on behalf of customers who issue stablecoins that are backed by an asset such as U.S. dollars […]
The “Main Street Lending” (MSL) program has attracted involvement from financial institutions representing more than half of all banking assets – but fewer than 600 banks total – and has so far issued loans amounting […]
Time to accommodate the Yom Kippur Jewish holiday is being allocated to collect comments on a new category of qualified mortgages, the federal consumer financial protection agency said Monday, with the new comments due date […]
The acting head of the Office of the Comptroller of the Currency (OCC) on Monday welcomed the Federal Reserve’s “joining us” in recognizing the need to “improve upon a system that was not working” through […]
Consumer redress of more than $1.3 million to 4,000 harmed consumers – and a $100,000 civil money penalty (CMP) – are portions of a settlement reached with an auto-loan servicer charged with engaging in unfair […]
Settlements with a trio of former senior executives of Wells Fargo Bank for their roles in systemic sales practices misconduct by the banks – totaling nearly $1.7 million in civil money penalties (CMPs) – were […]
An advance notice of proposed rulemaking for an “approach” to modernization of rules implementing the anti-redlining Community Reinvestment Act (CRA) was released by the Federal Reserve Board during its open meeting Monday by unanimous vote […]
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