News stories tagged NASCUS Report
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FDIC Publishes 2023 Risk Review
August 14, 2023 — The Federal Deposit Insurance Corporation (FDIC) today published its 2023 Risk Review. The report summarizes conditions in the U.S. economy, financial markets, and banking industry. The...
No Successor Named as Hood’s Term Comes to a Close
August 15, 2023 — As NCUA board member Rodney Hood’s term comes to a close this month, and with a Democrat expected to take his place, eyes turn to the...
U.S. Authorities Release Joint Guidance on Voluntary Self-Disclosure of Potential Sanctions and Export Control Violations
Notice Also Stresses New BSA Whistleblower Provisions On July 26, the Department of Commerce, the Department of the Treasury, and the Department of Justice released a joint compliance notice (the “Compliance Notice”)...
Two Large Minnesota Credit Unions Announce Plan to Merge
Two well-known Minnesota credit unions are planning a merger that would make them the fourth-largest credit union in the state. Leaders of Spire Credit Union and Hiway Credit Union said...
Aug. 4: CFPB Updates This Week
CFPB Sues USASF Servicing for Illegally Disabling Vehicles and for Improper Double-Billing Practices AUG 02, 2023 — The Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against...
Consumers Charged Nearly $3 Billion in Fees Annually from Predatory Lenders According to Study
In a study released June 2023 by the Center for Responsible Lenders, analysts found that borrowers are charged nearly $3 billion annually for single-payment, payday installment, and car-title loans. Per the study’s...
Tech Tips for 2024 Strategic Planning
As fall approaches and budgeting season begins, we want to share the leading industry initiatives, including technology focus areas for 2024 roadmaps. What’s included in your strategic plan for 2024?...
Goldman Sachs is Watching for ‘Cannibalization’ from Apple’s New Savings Account
Goldman Sachs CEO David Solomon said Tuesday he isn't worried about Apple's new savings account overshadowing Goldman's own Marcus offerings but that he's watching closely for "cannibalization."
Fed Keeps May Interest-Rate Increase on Table Despite Expected Recession
Officials thought regulators had soothed banking turmoil enough to justify a quarter-point rate increase, meeting minutes show. Courtesy of By Nick Timiraos, Wall Street Journal Stubbornly high inflation and tight...
Greenlight’s new B2B offering brings kid-focused banking to traditional firms
Over half a dozen firms, including Morgan Stanley, WaFd Bank and Community Financial Credit Union have partnered with the neobank to offer its services to their customers. Courtesy of Anna...
Veteran of FDIC Takeover Tells What It’s Like to Run a Failed Bank
John Bovenzi is part of the small club of people who have run a failed U.S. bank, a group whose membership expanded by two this month when regulators swooped in to take over Silicon Valley Bank and Signature Bank...
Mar. 3: CFPB Updates This Week
NASCUS Summary: Registry of Supervised Nonbanks that Use Form Contracts To Impose Terms and Conditions That Seek To Waive or Limit Consumer Legal Protections 12 CFR Part 1092 The Consumer...