More than $712 million in fines, restitution ordered, and other monetary recoveries were realized by the federal insurer of bank deposits between last fall and this spring, according to a report sent to Congress Tuesday. […]
Economic inclusion can be expanded when bank customers (or credit union members) open accounts to deposit their tax refunds by direct deposit, an outcome of involvement in the federal tax service’s volunteer tax assistance program, […]
A statement that the Electronic Fund Transfer Act (EFTA) and Regulation E protect consumers when funds are wired from their account without authorization was submitted by the federal consumer financial protection agency in an ongoing […]
Coordinating with other regulators to address risks posed by blockchain technology, and requiring use of alternative data in underwriting loans made by financial technology (fintech) lenders are two outstanding “priority recommendations” to the Federal Reserve […]
None of the 19 banks whose Community Reinvestment Act (CRA) evaluation ratings became public in May was rated “needs to improve” or “substantial noncompliance,” the Office of the Comptroller of the Currency (OCC) said Monday. […]
This story has been updated to include a link to a Federal Register notice of final rule, which has an effective date of Sept. 16. Implementation dates are phased in. Nonbank firms that are subject […]
Four former credit union employees – one of whom was sentenced in April after being charged then pleading guilty to numerous counts that included grand theft and forgery – are permanently barred from participating in […]
Annual summary of deposits (SOD) surveys will be due July 31, the federal insurer of bank deposits said Friday – noting that, after that date, no extensions will be granted for submitting the data. The […]
Action against a Harrisburg, Pa., student lender was taken Friday for a second time in a month by the federal consumer financial protection agency, this time for illegally collecting on student loans that have been […]
Host state-to-loan-deposit ratios of 98% were recorded by both Arizona and New Jersey in the year ending June 30, 2023, the highest ratios of all the states and territories, the federal banking agencies said Friday. […]
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