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What's up
  • [ June 19, 2026 ] Former OK bank leader earns prohibition, $125k fine for ‘imprudent’ lending that led to millions in losses The Fed
  • [ June 18, 2026 ] Agencies jointly issue proposal for ‘effective’ customer ID program used by permitted stablecoin issuers FDIC
  • [ June 17, 2026 ] Want your filing approved? OCC attempts to clarify how that happens (and how it doesn’t) OCC
  • [ June 18, 2026 ] OCC bars 2 from banking work; terminates 3 previous orders of enforcement OCC
  • [ June 17, 2026 ] GAO: Fed’s COVID-era ‘Main Street’ loan program shows 70% of loans repaid; more Other
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NCUA

Credit union regulator to strive for 15 underserved area expansions in 2024

January 23, 2024 0

Will the coming year bring more credit union expansion into underserved areas? Maybe, if credit unions’ federal regulator succeeds in satisfying a particular performance indicator it set for itself for 2024. The National Credit Union […]

FDIC

Crisis readiness, cybersecurity and underserved support top three challenges for FDIC, report asserts

February 18, 2022 0

Readiness for crises, cybersecurity for banks and third-party service providers, and support for underserved communities in banking are the three top challenges for the federal deposit insurance agency, according to report issued Thursday by its […]

OCC

OCC’s Project REACh focuses financial system barrier-busting effort on Detroit

February 15, 2022 0

Efforts to open up economic and financial system access for Detroit’s underserved communities were launched Tuesday by the Office of the Comptroller of the Currency (OCC). The agency said Acting Comptroller of the Currency Michael […]

Other

FinCEN virtual ‘Innovation Hours’ June 10 will allow underserved-related groups to present their AML/CFT tech innovations

April 12, 2021 0

An Innovation Hours Program slated June 10 by the Financial Crimes Enforcement Network (FinCEN) will allow participating firms that are founded, owned, or managed by underserved groups to present their innovative products, services, and approaches designed […]

COVID-19 actions

NCUA has $1.5 million for grants to low-income credit unions in 2021 focused on digital/cyber efforts, MDIs, underserved

April 6, 2021 0

Approximately $1.5 million in awards to support digital services and cybersecurity, mentoring of small minority depository institution (MDI) credit unions, and service to underserved communities will be available to low-income-designated credit unions during 2021, the […]

CFPB

Interpretive rule outlines how ‘underserved’ areas are determined, reflecting changes in HMDA regs

June 23, 2020 0

The way in which the federal consumer financial protection agency determines which counties qualify as “underserved” for a given calendar year for purposes of mortgage origination are outlined in an interpretive rule issued Tuesday. The […]

FDIC

FDIC’s 2019 Household Survey questionnaire out for comment

November 6, 2018 0

A survey form to be used next year to measure and track economic inclusion among U.S. households is being reviewed by the Federal Deposit Insurance Corp. (FDIC), which is accepting comments on the survey and […]

FDIC

Guide offers pathway to collaboration for lending, investment in underserved communities

December 22, 2017 0

Noting that collaboration with Minority Depository Institutions (MDIs) provides “viable options for sound and profitable lending and investments” in underserved communities, the Federal Deposit Insurance Corp. (FDIC) Friday released a guide for banks and others […]

NCUA

Agency awards more than $500k in grants for outreach to underserved credit union members

November 29, 2017 0

More than half a million dollars in grants to support outreach to underserved members have been awarded to 23 credit unions in 17 states, the National Credit Union Administration (NCUA) announced Wednesday. According to the […]

Today

  • Former OK bank leader earns prohibition, $125k fine for ‘imprudent’ lending that led to millions in losses

    June 19, 2026 0
    “Imprudent” loans made to the relatives of an Oklahoma bank CEO have led to his prohibition from future bank employment and a fine of $125,000, the Federal Reserve said Thursday. According to the Fed, it has prohibited Thomas Engelbrecht from [...]
  • Agencies jointly issue proposal for ‘effective’ customer ID program used by permitted stablecoin issuers

    June 18, 2026 0
    Establishing and maintaining “an effective” customer identification program (CIP) for permitted payment stablecoin issuers (PPSIs) was proposed Thursday by federal banking and credit union regulators, and the Treasury’s financial crimes enforcement unit. The proposal, issued under the auspices of the [...]
  • Want your filing approved? OCC attempts to clarify how that happens (and how it doesn’t)

    June 17, 2026 0
    A filing is inconsistent with law or regulation if it does not meet the applicable statutory or regulatory criteria for that filing type, the national bank regulator said Wednesday in a bulletin focusing on the agency’s filing decision process. The [...]
  • OCC bars 2 from banking work; terminates 3 previous orders of enforcement

    June 18, 2026 0
    Two banking executives were barred from any future work in federally insured financial institutions in consent prohibition orders announced Thursday by the Office of the Comptroller of the Currency (OCC). The agency’s prohibition orders noted that: Steven Ho, former vice president [...]
  • GAO: Fed’s COVID-era ‘Main Street’ loan program shows 70% of loans repaid; more

    June 17, 2026 0
    An annual review of the Federal Reserve’s Main Street Lending Program — created with other programs to ensure credit availability amid the COVID-19 pandemic — has seen 70% of the 1,830 loans made fully repaid, with 16% generating losses and about [...]
  • Credit union regulator’s Hauptman to receive three briefings at meeting set for June 24

    June 17, 2026 0
    A mid-year budget update is on the agenda for the federal credit union regulator’s one-man board when he gavels in the meeting June 24, at 10 a.m. ET. According to the National Credit Union Administration (NCUA) Kyle Hauptman, chairman of [...]
  • OCC drops language from MDI rules designating what groups qualify as ‘socially, economically disadvantaged’

    June 16, 2026 0
    As there is no specified group of individuals presumed to be socially and economically disadvantaged under the statute creating minority depository institutions (MDIs), the national bank regulator is dropping portions of its rules that outline who those groups are, the [...]
  • UPDATED: Credit union regulator loosens rules on records preservation requirements

    June 15, 2026 0
    Guidance on records preservation for credit unions concerning the length of time credit unions should retain various types of operational records was removed from the federal regulator’s regulations under a final rule adopted Monday. According to the one-man board of [...]
  • FinCEN updates guidance on banks’ USA PATRIOT Act info sharing with others

    June 15, 2026 0
    Updated guidance on how financial institutions are permitted to share information with each other regarding suspected fraud was issued by Treasury’s financial crimes enforcement arm under the USA PATRIOT Act. The Financial Crimes Enforcement Network (FinCEN) on Friday released a [...]

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