reverse mortgage – Regulatory Report

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[ March 17, 2025 ] ‘Unilateral’ decision on blocking credit union reporting of overdraft fees creates rift among regulator board members NCUA
[ March 14, 2025 ] Comments due April 10 on bank merger policy rescission; FDIC plans future revision FDIC
[ March 14, 2025 ] Michigan bank, after many enforcement actions for phony loan program, acquired by Florida banking firm OCC
[ March 14, 2025 ] First meeting of FSOC under new administration to be held entirely in executive session Other
[ March 12, 2025 ] Office hours focusing on topics of crypto, fintechs, innovation set for May by OCC OCC

CFPB imposes $140k penalty on reverse mortgage lender over deceptive advertising

April 27, 2021 0

Reverse mortgage lender Nationwide Equities Corporation of Mahway, N.J., must cease its deceptive advertising, ensure its future activities comply with federal law, and pay a $140,000 civil money penalty under a consent order announced Tuesday […]

Extension of interagency reverse mortgage guidance proposed by Fed

July 3, 2018 0

The Federal Reserve Board is considering a three-year extension of interagency guidance regarding reverse mortgage products and will accept comments from the public until Sept. 4, according to a notice in Tuesday’s Federal Register. The […]

‘Unilateral’ decision on blocking credit union reporting of overdraft fees creates rift among regulator board members

March 17, 2025 0

A decision to rescind a requirement that credit unions publicly disclose the fees they charge for overdrafts has caused a rift along partisan lines among members of the three-person board that oversees the federal credit union regulator. On March 12, [...]
Comments due April 10 on bank merger policy rescission; FDIC plans future revision

March 14, 2025 0

Public comments on a bank regulator’s proposal to rescind its September 2024 bank merger policy statement, and reinstate its prior policy statement on an interim basis, are due April 10, according to a notice in the Federal Register Friday. The [...]
Michigan bank, after many enforcement actions for phony loan program, acquired by Florida banking firm

March 14, 2025 0

A Southfield, Mich., bank that was the focus from 2022-24 of numerous enforcement actions, including prohibitions of employees associated with a risky loan program, will be acquired by a Florida banking company, the Federal Reserve said Friday. In a release, [...]
First meeting of FSOC under new administration to be held entirely in executive session

March 14, 2025 0

The first meeting of the financial stability oversight group chaired by the new Treasury secretary will be held March 20, the agency announced late Thursday. According to the agency, Treasury Secretary Scott Bessent will preside over the meeting of the [...]