A national data security standard and strong notification requirements when a data breach occurs were two top recommendations of most of the financial institution and data security experts testifying before a House subcommittee Wednesday. However, […]
An enforcement action has been terminated against Cornerstone Bancshares, Inc., of Overland Park, Kansas, the Federal Reserve said Tuesday. The action was first imposed in 2010. Under the consent agreement signed in 2010 by the […]
A former employee of an Alabama bank has been prohibited from working at a financial institution after embezzling money from bank customers for personal gain, the Federal Reserve said Tuesday. Eric Scott Darty, formerly of […]
Saying that the Federal Reserve will remain alert to any developing risks to financial stability, the agency’s new board chairman said Tuesday that the central bank would preserve regulatory changes made in the wake of […]
A pledge to commit to fulfill its statutory responsibilities, but to “go no further,” was made by the Consumer Financial Protection Bureau (CFPB) Monday in its five-year strategic plan, released after the White House proposed […]
The merger of Howard Bancorp with First Mariner Bank (FM), both of Maryland, was approved on a vote of 3-0 Monday by the Federal Reserve Board. The Federal Reserve, in its filings, noted that the […]
Reducing the vulnerabilities and impact of successful exploitation of the financial sector’s cybersecurity infrastructure, primarily by acceding to the private sector and trading compliance for a greater investment in security, are central tenets of the […]
Noting that it is committed to “rolling back the regulatory excesses” of financial institution rule reform adopted in the wake of the Great Recession, the Trump Administration’s 2019 proposed budget recommends subjecting funding for two […]
Five revisions to its rule on pre-paid accounts — including extending the overall effective date to April 1, 2019, and providing that financial institutions will not be required to resolve errors or limit consumers’ liability […]
A final rule for calculating pro-rata share distributions of National Credit Union Share Insurance Fund (NCUSIF) equity, and rebates from the now-closed fund to resolve “corporate credit unions,” will be considered by the NCUA Board […]
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