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FDIC-Insured Institutions Reported Net Income of $70.4 Billion in Second Quarter 2021
September 8, 2021 / Source: FDIC
Press Release FDIC-Insured Institutions Reported Net Income of $70.4 Billion in Second Quarter 2021 Wednesday, September 8, 2021 For Release Quarterly Net Income Continued to Increase Year Over Year, Driven by a Second Consecutive Quarter of Negative Provision Expense Net Interest Margin Contracted Further to a New Record Low Quarterly Loan Balances Grew For First…
CFPB Takes Action Against Student Lender for Misleading Borrowers about Income Share Agreements
September 7, 2021 / Source: CFPB
CFPB Takes Action Against Student Lender for Misleading Borrowers about Income Share Agreements Consent Order against Student Loan Originator for Deceptive Practices Sends Clear Message to ISA Industry WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) took action today against an income share agreement (ISA) provider for mispresenting its product and failing to comply with…
Statement by CFPB Acting Director Uejio on CFPB Victory in Legal Challenge to Payday Lending Rule Protections
September 7, 2021 / Source: CFPB
Statement by CFPB Acting Director Uejio on CFPB Victory in Legal Challenge to Payday Lending Rule Protections WASHINGTON, D.C. – CFPB Acting Director Dave Uejio issued a statement after the U.S. District Court for the Western District of Texas upheld the Payment Provisions in the CFPB’s 2017 rule on payday, vehicle title, and certain high-cost installment…
Agencies Extend Comment Period on Proposed Risk Management Guidance for Third-Party Relationships
September 7, 2021 / Source: OCC
News Release 2021-93 | September 7, 2021 Agencies Extend Comment Period on Proposed Risk Management Guidance for Third-Party Relationships Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency The federal bank regulatory agencies today announced that they will extend until October 18, 2021, the comment period…
Did you get a notice that your student loans are transferring to a new servicer? Learn more about what this means for you
September 3, 2021 / Source: CFPB
Did you get a notice that your student loans are transferring to a new servicer? Learn more about what this means for you By Austin Mueller – SEP 03, 2021 Over the next few months, many federal student loan borrowers will have their loans transferred to a new servicer. If your loans are currently being serviced…
OCC Hosts Virtual Minority Depository Institutions Advisory Committee Meeting September 21
September 3, 2021 / Source: OCC
News Release 2021-91 | September 3, 2021 OCC Hosts Virtual Minority Depository Institutions Advisory Committee Meeting September 21 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 21, 2021. The meeting is open to the public and will…
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting September 28
September 3, 2021 / Source: OCC
News Release 2021-92 | September 3, 2021 OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting September 28 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, September 28, 2021. The virtual meeting is open to the public and will…
FDIC Releases Results of Summary of Deposits Annual Survey September 3, 2021
September 3, 2021 / Source: FDIC
Press Release FDIC Releases Results of Summary of Deposits Annual Survey For Release The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC–insured institutions as of June 30, 2021. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 81,000…
CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit
September 2, 2021 / Source: CFPB
CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit Proposal Would Increase Transparency in a $2.4 Trillion Sector of the American Economy and Bolster Fair Lending WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need…
OCC Releases CRA Evaluations for 19 National Banks and Federal Savings Associations September 2, 2021
September 2, 2021 / Source: OCC
News Release 2021-90 | September 2, 2021 OCC Releases CRA Evaluations for 19 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 August 1, 2021 through August 31, 2021. The list contains only national…
Federal Reserve Board announces termination of enforcement action with Intesa Sanpaolo S.p.A. and Intesa Sanpaolo S.p.A. New York Branch
September 2, 2021 / Source: FRB
Federal Reserve Board announces termination of enforcement action with Intesa Sanpaolo S.p.A. and Intesa Sanpaolo S.p.A. New York Branch The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Intesa Sanpaolo S.p.A., Turin, Italy and Intesa Sanpaolo S.p.A. New York Branch, New York, New York Written Agreement, dated March 2,…
CDFI Fund Announces $5 Billion in New Markets Tax Credits
September 1, 2021 / Source: tr
PRESS RELEASES CDFI Fund Announces $5 Billion in New Markets Tax Credits September 1, 2021 Awards will Spur Economic and Community Development Nationwide WASHINGTON – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in…
Supplemental estimation methodology for institutional coverage and market-level cost estimates in the small business lending data collection notice of proposed rulemaking
September 1, 2021 / Source: CFPB
Industry and markets Supplemental estimation methodology for institutional coverage and market-level cost estimates in the small business lending data collection notice of proposed rulemaking SEP 01, 2021 On September 1, 2021, the Bureau of Consumer Financial Protection (Bureau) released a notice of proposed rulemaking (proposed rule) to amend Regulation B to implement changes to the Equal Credit…
Small Business Lending Data Collection under the Equal Credit Opportunity Act (Regulation B)
September 1, 2021 / Source: CFPB
Proposed rule Small Business Lending Data Collection under the Equal Credit Opportunity Act (Regulation B) SEP 01, 2021 The Bureau of Consumer Financial Protection (Bureau) is publishing for public comment a proposed rule amending Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) made by section 1071 of the Dodd-Frank Wall Street…