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Summary of Deposits Survey and Filing for June 30, 2020
June 5, 2020 / Source: FDIC
Financial Institution Letters FIL-59-2020 June 3, 2020 Summary of Deposits Survey and Filing for June 30, 2020 FIL-59-2020 – PDF (PDF Help) Summary: The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices…
FDIC Issues List of Banks Examined for CRA Compliance June 4, 2020
June 4, 2020 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE June 4, 2020 David Barr (703) 622-4790 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned…
CFPB Takes Steps to Facilitate LIBOR Transition
June 4, 2020 / Source: CFPB
CFPB Takes Steps to Facilitate LIBOR Transition WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today took steps to facilitate the transition away from LIBOR for consumers and regulated entities. The Bureau released an updated Consumer Handbook on Adjustable Rate Mortgages (CHARM) to help consumers better understand adjustable rate mortgage loan products. The Bureau also…
OCC Requests Comment on Proposal to Update Activities and Operations Rules and its Rules on Digital Activities
June 4, 2020 / Source: OCC
News Release 2020-76 | June 4, 2020 OCC Requests Comment on Proposal to Update Activities and Operations Rules and its Rules on Digital Activities WASHINGTON–The Office of the Comptroller of the Currency (OCC) today released two issuances for public comment. The OCC published a Notice of Proposed Rulemaking (NPR) for public comment to update its rules for national…
Consumer Financial Protection Bureau Takes Action to Help Consumers Receive Relief from Credit Card Issuers
June 3, 2020 / Source: CFPB
Consumer Financial Protection Bureau Takes Action to Help Consumers Receive Relief from Credit Card Issuers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today took action to help consumers receive relief during the pandemic more quickly from their credit card issuer. Regulation Z requires that creditors provide written disclosures to consumers for account-opening and temporary…
FHFA Publishes Final Rule on the FHLBanks’ Housing Goals
June 3, 2020 / Source: FHFA
News Release FHFA Publishes Final Rule on the FHLBanks' Housing Goals Rule provides greater availability of mortgage financing for underserved borrowers FOR IMMEDIATE RELEASE 6/3/2020 Washington, D.C. – To help underserved borrowers, the Federal Housing Finance Agency (FHFA) today sent to the Federal Register for publication a final rule on the Federal Home Loan Banks’ (FHLBanks)…
Consumer Compliance Examination Manual May 2020 Update
June 3, 2020 / Source: FDIC
Consumer Compliance Examination Manual May 2020 Update The CEM provides supervisory information to FDIC examination staff that conduct consumer compliance examinations, Community Reinvestment Act performance evaluations, and other supervisory activities. It includes supervisory policies and examination procedures for evaluating financial institutions’ compliance with federal consumer protection laws and regulations. The CEM is designed to promote…
Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices
June 2, 2020 / Source: CFPB
Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices JUN 02, 2020 WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (Bureau) announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries—ACAC, Inc., which conducts business under the name Approved Cash Advance, and Quik Lend, Inc.—(collectively,…
OCC Releases CRA Evaluations for 17 National Banks and Federal Savings Associations June 2020
June 2, 2020 / Source: OCC
News Release 2020-74 | June 2, 2020 OCC Releases CRA Evaluations for 17 National Banks and Federal Savings Associations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2020 through May 31, 2020. The list contains only national…
FHFA Announces Public Webinar on Re-Proposed Capital Rule for the Enterprises
June 1, 2020 / Source: FHFA
News Release FHFA Announces Public Webinar on Re-Proposed Capital Rule for the Enterprises Transparency effort intended to inform public and housing finance market about re-proposal FOR IMMEDIATE RELEASE 6/1/2020 Washington, D.C. – To provide transparency and better inform public comment and the housing finance market, the Federal Housing Finance Agency (FHFA) will host a webinar on…
OCC Sounds Warning About Effects of COVID-19 ‘Lockdowns’ on Banking System
June 1, 2020 / Source: OCC
News Release 2020-73 | June 1, 2020 OCC Sounds Warning About Effects of COVID-19 'Lockdowns' on Banking System WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system. In letters to the National League of Cities, the U.S. Conference of Mayors,…
Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances Feb 2020
May 29, 2020 / Source: FRB
Press Release May 29, 2020 Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances For release at 2:00 p.m. EDT The Federal Reserve Board on Friday released results of a survey of senior financial officers at banks about their strategies and practices…
Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule
May 29, 2020 / Source: OCC
News Release 2020-72 | May 29, 2020 Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency’s (OCC) final rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers…
FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2020
May 29, 2020 / Source: FDIC
Press Releases FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2020 FOR IMMEDIATE RELEASE May 29, 2020 Media contact: Brian Sullivan (202) 898-6534 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third and fourth quarter 2020. CRA regulations…
FHFA Announces New Fannie Mae and Freddie Mac LIBOR Transition Resources
May 28, 2020 / Source: FHFA
News Release FHFA Announces New Fannie Mae and Freddie Mac LIBOR Transition Resources Joint Enterprise LIBOR Transition Playbook and Frequently Asked Questions Now Online FOR IMMEDIATE RELEASE 5/28/2020 Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) have launched new websites that provide key resources for…
CFPB Study Highlights Challenges Retirees Face to Meet Expenses in Early Years of Retirement
May 28, 2020 / Source: CFPB
CFPB Study Highlights Challenges Retirees Face to Meet Expenses in Early Years of Retirement MAY 27, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today released a first of its kind study examining the financial resources and expenses of retirees during the first five years of retirement among Americans who retired between 1992 and…
FDIC Extends Comment Period on Proposal to Ensure Safety and Soundness of Industrial Banks
May 28, 2020 / Source: FDIC
Press Releases FDIC Extends Comment Period on Proposal to Ensure Safety and Soundness of Industrial Banks FOR IMMEDIATE RELEASE May 27, 2020 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] WASHINGTON –The Federal Deposit Insurance Corporation (FDIC) has extended the public comment period for its proposed rule regarding industrial banks and industrial loan companies (industrial banks) by…
OCC Issues Third and Fourth Quarter 2020 CRA Evaluation Schedule
May 27, 2020 / Source: OCC
News Release 2020-68 | May 27, 2020 OCC Issues Third and Fourth Quarter 2020 CRA Evaluation Schedule WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third quarter and fourth quarter 2020. The OCC encourages public comment on the national banks and federal…
Sampling Methodologies: Revised Comptroller’s Handbook Booklet
May 27, 2020 / Source: OCC
OCC Bulletin 2020-56| May 26, 2020 Sampling Methodologies: Revised Comptroller’s Handbook Booklet To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) today issued the revised “Sampling Methodologies” booklet of the Comptroller’s…
Director, Shareholder, and Member Meetings: Interim Final Rule
May 26, 2020 / Source: OCC
Director, Shareholder, and Member Meetings: Interim Final Rule To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) is issuing an interim final rule that amends 12 CFR 5…
Freddie Mac Announces Online Resources to Help Consumers
May 26, 2020 / Source: Freddie Mac
Freddie Mac Announces Online Resources to Help Consumers PDF Version New digital tools help consumers know their options and get help MCLEAN, Va., May 26, 2020 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today announced a number of online resources available to help homeowners and renters navigate the relief and support the company has made…
Mortgage Rates Decrease May 21, 2020
May 22, 2020 / Source: Freddie Mac
Mortgage Rates Decrease Supporting Materials: Primary Mortgage Market Survey® PDF Version MCLEAN, Va., May 21, 2020 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.24 percent. “For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving…
Treasury Sanctions Senior Nicaraguan Government Officials, Increasing Pressure on President Ortega’s Regime
May 22, 2020 / Source: OFAC
PRESS RELEASES Treasury Sanctions Senior Nicaraguan Government Officials, Increasing Pressure on President Ortega’s Regime WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two senior Nicaraguan government officials, Julio Cesar Aviles Castillo and Ivan Adolfo Acosta Montalvan for supporting the corrupt Ortega regime. Since April 2018, the Ortega…
Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020
May 21, 2020 / Source: OCC
Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020 WASHINGTON—Comptroller of the Currency Joseph M. Otting today announced he will step down from office on May 29, 2020, and pursuant to 12 USC 4 as designated by Secretary of the Treasury…
Consumer Financial Protection Bureau Issues Consumer Complaint Bulletin
May 21, 2020 / Source: CFPB
Consumer Financial Protection Bureau Issues Consumer Complaint Bulletin MAY 21, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued a report analyzing the complaints received during the COVID-19 pandemic. The bulletin shows that mortgage and credit card complaints top the list of complaints the Bureau has received that mention coronavirus or related terms. In…