Top headlines in today’s news …
Raising the threshold of $10,000 for reporting large cash transactions – or expanding criteria to allow for further exemption from reporting – is among recommendations made in a report by the congressional watchdog, issued Wednesday. […]
Overdraft or non-sufficient funds (NSF) fees that blindside members may expose credit unions to heightened reputational, consumer compliance, third-party, and litigation risk, their federal regulator warned in a letter issued Tuesday. In a Letter to […]
An $80 billion Texas bank has been sued for allegedly “systematically failing” 3.4 million primarily unbanked Americans receiving federal benefits, the federal consumer financial protection agency said Friday, which is seeking a stop to the […]
Return of $1.8 billion in illegal junk fees – allegedly charged in a credit repair scheme – from Salt Lake City firms to 4.3 million Americans was announced Thursday by the federal consumer financial protection […]
Federal banking agencies on Tuesday launched the third part of a four-part review of their regulations to identify those which are outdated “or otherwise unnecessary.” The review – by the Federal Deposit Insurance Corp. (FDIC), […]
Data brokers would be blocked from selling sensitive personal data to potential scammers, stalkers and “spies” (those conducting espionage) under a proposal issued Tuesday by the federal consumer financial protection agency. The Consumer Financial Protection […]
Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by […]
A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule […]
Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset […]
Count Federal Reserve Board Gov. Adriana Kugler as an advocate of continued agency independence, who Thursday said that condition is “fundamental” to the Fed achieving good policy. In remarks to a meeting of the Latin […]
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