In the News
Review of FDIC’s Handling of Failure of Signature Bank Finds Inconsistency in Exams, Oversights & More
A review of the how the FDIC handled the failure of Signature Bank has found inconsistency in examinations, missed opportunities, supervision oversights and more. According to the material loss review of...
NCUA Board Approves Final Rule on Financial Innovation
The National Credit Union Administration Board held its eighth open meeting of 2023 and unanimously approved a final rule that amends the NCUA’s regulations regarding indirect lending, the purchase of...
Oct. 20: CFPB Updates This Week
Senate votes to override CFPB small business lending rule Oct. 19, 2023 — by a vote of 53-44, the Senate voted to approve S.J. 32, the resolution introduced under the...
Regulation Across the Pond
EU Bank Regulator Recommends Accelerating Integration of ESG Risks into Capital Requirement Framework EU banking supervisor the European Banking Authority (EBA) announced the publication of a new report assessing the...
Don’t Miss Out: BSA/AML Certification Conference with CUNA
LIVE IN-PERSON, SCHOOL & CONFERENCE, RECORDED Event Date: November 05 – November 09, 2023 Location: Omni Las Colinas Hotel, Irving, TX NASCUS members receive CUNA member pricing. To receive this...
Oct. 13: A Busy Week at the CFPB
PUBLISHED OCT 12, 2023 CFPB and Justice Department Issue Joint Statement Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants The Consumer Financial Protection Bureau...
New Report Finds the Average Consumer Is Overdrawn for 9 Days
Present economic and financial challenges have compelled individuals from various income brackets and credit backgrounds to resort to overdrafts — a form of credit whereby a consumer’s bank covers a...
Oct. 6: CFPB Updates This Week
Consumer Financial Protection Circular 2023-03 Adverse action notification requirements and the proper use of the CFPB’s sample forms provided in Regulation B Question presented When using artificial intelligence or complex...
What is the New Beneficial Ownership Information (BOI) Reporting and How Does it Affect Your Business?
Commencing Jan. 1, 2024, certain business owners and operators will have to comply with new information retention and reporting requirements for the direct and indirect ownership of privately held entities:...
Small Businesses Look for New Options as Traditional Funding Shrinks
Smaller firms feel the credit crunch — and are likely to pivot to new avenues of financing. PYMNTS Intelligence shows that six in 10 smaller firms are denied funding through...
Credit Unions That Serve Federal Workers Prep for Government Shutdown
Credit unions catering to federal workers are preparing to reestablish emergency relief programs as the deadline to avoid a government shutdown fast approaches. Republican and Democratic officials in the U.S....
Sept. 29: CFPB Updates This Week
PUBLISHED SEP 27, 2023 CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash-Out Refinances The Consumer Financial Protection Bureau (CFPB) released its annual...