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Federal Reserve payments study finds growth in card and automated clearinghouse payments
December 19, 2019 / Source: FRB
Press Release December 19, 2019 Federal Reserve payments study finds growth in card and automated clearinghouse payments For release at 12:00 p.m. EST Share The growth of payments using debit and credit cards and the automated clearinghouse (ACH) system continued to accelerate from 2015 to 2018, while check payments continued their long-run decline, according to…
News Release 2019-151: OCC Enforcement Actions and Terminations
December 19, 2019 / Source: OCC
News Release 2019-151 | December 19, 2019 OCC Enforcement Actions and Terminations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. All Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition…
OCC Reports Mortgage Performance Improves Slightly
December 19, 2019 / Source: OCC
News Release 2019-150 | December 19, 2019 OCC Reports Mortgage Performance Improves Slightly WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2019. The OCC Mortgage Metrics Report, Third Quarter 2019 showed 96.4 percent of mortgages included in the report…
Agencies Find No Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms
December 18, 2019 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 4:30 p.m. EST December 17, 2019 Agencies Find No Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms The Federal Reserve Board and Federal Deposit Insurance Corporation announced Tuesday that they did…
Federal Reserve Board announces series of “fintech innovation office hours” across the country to meet with banks and companies engaged in emerging financial technologies
December 18, 2019 / Source: FRB
Press Release December 17, 2019 Federal Reserve Board announces series of “fintech innovation office hours” across the country to meet with banks and companies engaged in emerging financial technologies For release at 3:30 p.m. EST Share The Federal Reserve Board on Tuesday announced that it will hold a series of “fintech innovation office hours” across…
FDIC Announces Departure of Chief Information Officer Howard Whyte
December 17, 2019 / Source: FDIC
Press Releases FDIC Announces Departure of Chief Information Officer Howard Whyte FOR IMMEDIATE RELEASE December 17, 2019 Media Contact: Amy C. Thompson 202-898-7124 [email protected] WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today announced that Howard Whyte, Chief Information Officer (CIO) and Chief Privacy Officer, has resigned his position to pursue an opportunity in the private sector….
Federal Reserve Board announces approval of application by First Citizens BancShares, Inc.
December 17, 2019 / Source: FRB
Press Release December 16, 2019 Federal Reserve Board announces approval of application by First Citizens BancShares, Inc. For release at 1:00 p.m. EST Share The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by First Citizens BancShares, Inc., Raleigh, North Carolina,…
Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data
December 16, 2019 / Source: OCC
News Release 2019-148 | December 16, 2019 Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data SHARE THIS PAGE: oint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency The three federal banking agency members of the Federal Financial Institutions…
Federal Reserve Board announces it will extend until January 22, 2020, comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Bo
December 16, 2019 / Source: FRB
Press Release December 13, 2019 Federal Reserve Board announces it will extend until January 22, 2020, comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Board For release at 2:00 p.m. EST Share The Federal Reserve Board announced on Friday that it will extend until January 22,…
FDIC and OCC Propose to Modernize Community Reinvestment Act Regulations
December 13, 2019 / Source: OCC
News Release 2019-147 | December 12, 2019 FDIC and OCC Propose to Modernize Community Reinvestment Act Regulations SHARE THIS PAGE: Joint Release Federal Deposit Insurance Corporation Office of Comptroller of the Currency WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under…
Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I
December 13, 2019 / Source: FRB
Press Release December 12, 2019 Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I For release at 2:00 p.m. EST Share The Federal Reserve Board on Thursday announced the annual adjustment to the asset-size threshold in Regulation I that determines the dividend rate paid to banks that are members of the…
Federal Reserve Board announces termination of enforcement actions with JPMorgan Chase & Co., Spirit BankCorp, Inc., U.S. Bancorp, and USB Americas Holdings Company
December 12, 2019 / Source: FRB
Press Release December 12, 2019 Federal Reserve Board announces termination of enforcement actions with JPMorgan Chase & Co., Spirit BankCorp, Inc., U.S. Bancorp, and USB Americas Holdings Company For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below: JPMorgan Chase & Co., New…
Listening Session on Supervisory Appeals and Dispute Resolution Processes: Webinar for Bank Officers and Other Interested Parties
December 12, 2019 / Source: FDIC
Financial Institution Letters FIL-80-2019 December 11, 2019 Listening Session on Supervisory Appeals and Dispute Resolution Processes: Webinar for Bank Officers and Other Interested Parties Printable Format: FIL-80-2019 – PDF (PDF Help) Summary: As part of the FDIC's “Trust Through Transparency” initiative, the agency will host a webinar to solicit feedback regarding its supervisory appeals and dispute…
December 11, 2019: Federal Reserve issues FOMC statement
December 12, 2019 / Source: FRB
Press Release PDF December 11, 2019 Federal Reserve issues FOMC statement For release at 2:00 p.m. EST Share Information received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average,…
Significant FCC Ruling Distinguishes Online Fax Services Not in Violation of TCPA
December 11, 2019 / Source: JD Supra
Significant FCC Ruling Distinguishes Online Fax Services Not in Violation of TCPA In a welcome win to defendants fighting TCPA fax class actions, the Consumer and Governmental Affairs Bureau of the Federal Communications Commission (the Bureau) issued a declaratory ruling finding that a facsimile sent to an online fax service (as opposed to a traditional…
Kraninger Marks First Year as Director of the Consumer Financial Protection Bureau
December 11, 2019 / Source: CFPB
Kraninger Marks First Year as Director of the Consumer Financial Protection Bureau DEC 10, 2019 WASHINGTON, D.C. – Today, Consumer Financial Protection Bureau Director Kathleen L. Kraninger made the following statement regarding her Dec. 11 one year anniversary leading the Bureau: “It is an honor and privilege to serve and protect American consumers,” said Director Kraninger….
Quarterly Consumer Credit Trends: Public records, credit scores, and credit performance
December 10, 2019 / Source: CFPB
Industry and markets Quarterly Consumer Credit Trends: Public records, credit scores, and credit performance DEC 10, 2019 This is part of a series of quarterly reports of consumer credit trends produced by the Consumer Financial Protection Bureau using a longitudinal, nationally representative sample of approximately five million de-identified credit records maintained by one of the…
Supervisory Highlights Consumer Reporting Special Edition, Issue No. 20 (Fall 2019)
December 10, 2019 / Source: CFPB
Supervisory Highlights Supervisory Highlights Consumer Reporting Special Edition, Issue No. 20 (Fall 2019) In this special issue of Supervisory Highlights, we report examination findings in the areas of consumer reporting and furnishing of information to consumer reporting companies, pursuant to the Fair Credit Reporting Act and Regulation V. The report does not impose any new or…
OCC Highlights Key Risks for Federal Banking System
December 9, 2019 / Source: OCC
News Release 2019-145 | December 9, 2019 OCC Highlights Key Risks for Federal Banking System SHARE THIS PAGE: · WASHINGTON — The Office of the Comptroller of the Currency (OCC) today reported operational, credit, and interest rate risks are among the key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2019. Highlights from…
Request for Information on a Framework for Analyzing the Effects of FDIC Regulatory Actions
December 9, 2019 / Source: FDIC
Financial Institution Letters FIL-79-2019 December 9, 2019 Request for Information on a Framework for Analyzing the Effects of FDIC Regulatory Actions Printable Format: FIL-79-2019 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation (FDIC) today issued a Request for Information (RFI) seeking comment on approaches it uses, or is considering using, to analyze the effects of its…
November 05, 2019: Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook
December 6, 2019 / Source: NACHA
Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook POSTED ON November 05, 2019 The inaugural version of the online educational and decisioning platform is designed to help banks and credit unions develop a faster payments strategy MIAMI, Nov. 5, 2019 – Today, Nacha and its Payments…
CFPB Ombudsman’s Office 2019 Annual Report
December 6, 2019 / Source: CFPB
CFPB Ombudsman's Office 2019 Annual Report By Wendy Kamenshine – DEC 05, 2019 Today, the Ombudsman’s Office’s annual report is available on our webpage. Each year our annual report, which I deliver to the Director, outlines our work process and summarizes our activities from the last fiscal year. The Ombudsman’s Office is an independent, impartial, and confidential resource that…
OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations
December 5, 2019 / Source: OCC
News Release 2019-144 | December 5, 2019 OCC Releases CRA Evaluations for 22 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 November 1, 2019 through November 30, 2019. The list contains only national…
Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware
December 5, 2019 / Source: FinCEN
Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware Immediate Release December 05, 2019 Washington – Today the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) took action against Evil Corp, the Russia-based cybercriminal organization responsible for the development and distribution of the Dridex malware. Evil Corp has used the…
FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets
December 5, 2019 / Source: FinCEN
FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets Contact Steve Hudak, 703-905-3770 Immediate Release December 04, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today released a new strategic analysis of Bank Secrecy Act (BSA) reporting, indicating that elders face an increased threat to their financial…