US Regulation
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11/02/2018
Federal Reserve Board finalizes new supervisory rating system for large financial institutions……
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10/31/2018
Federal Reserve Board invites public comment on framework that would more closely match regulations for large banking organizations with their risk profiles……
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10/30/2018
Agencies propose rule to update calculation of derivative contract exposure amounts under regulatory capital rules……
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10/25/2018
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2019……
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10/17/2018
Federal Reserve Board announces approval of application by Old National Bancorp……
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10/12/2018
Federal Reserve Board announces approval of applications by Security Trust & Savings Bank……
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10/10/2018
Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by Hurricane Michael……
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10/03/2018
Federal agencies issue a joint statement on banks and credit unions sharing resources to improve efficiency and effectiveness of Bank Secrecy Act compliance……
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9/21/2018
Federal Reserve Board seeks public comment on proposal to amend Regulation H and Regulation K……
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9/21/2018
Agencies approve amendments to swap margin rule……
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9/18/2018
Agencies propose rule regarding the treatment of high volatility commercial real estate……
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9/14/2018
Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by Hurricane Florence……
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9/12/2018
Federal Reserve Board approves final amendments to liability provisions of Regulation CC……
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9/11/2018
Agencies issue statement reaffirming the role of supervisory guidance……
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9/04/2018
Agencies extend comment period for proposed rule simplifying and tailoring the “Volcker rule”……
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8/30/2018
Agencies extend deadline for certain resolution plan submissions……
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8/28/2018
Federal Reserve Board issues interim final rule expanding the applicability of the Board’s small bank holding company policy statement……
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8/23/2018
Agencies issue interim final rules expanding examination cycles for qualifying small banks and U.S. branches and agencies of foreign banks……
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8/22/2018
Agencies issue interim final rule regarting the treatment of certain muncipal securities as high-quality liquid assets……
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7/26/2018
Federal Reserve Board launches Consumer Compliance Supervision Bulletin……
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7/09/2018
Agencies post public sections of July 2018 plans……
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7/06/2018
Agencies issue statement regarding the impact of the Economic Growth, Regulatory Relief, and Consumer Protection Act……
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7/06/2018
Federal Reserve Board issues statement describing how, consistent with recently enacted EGRRCPA, the Board will no longer subject primarily smaller, less complex banking organizations to certain Board regulations……
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7/02/2018
Regulators extend the next resolution plan filing deadline for 14 domestic firms……
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6/29/2018
Agencies seek comment on proposed 2019 resolution plan guidance……
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6/14/2018
Federal Reserve Board approves rule to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability……
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6/05/2018
Agencies ask for public comment on proposal to simplify and tailor “Volcker rule”……
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5/30/2018
Federal Reserve Board asks for comment on proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule”……
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5/18/2018
Federal Reserve and Office of the Comptroller of the Currency extend comment period for proposed rule tailoring leverage ratio requirements……
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5/07/2018
Federal Reserve Board announces approval of final amendments to its Regulation A……
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4/17/2018
Agencies propose transition of new Current Expected Credit Losses (CECL) accounting standard into regulatory capital framework……
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4/13/2018
Federal Reserve Board approves proposal to revise regulatory capital rules to address and provide an option to phase in the effects of the new accounting standard for credit losses……
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4/11/2018
Rule proposed to tailor ‘enhanced supplementary leverage ratio’ requirements……
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4/10/2018
Federal Reserve Board seeks comment on proposal to simplify its capital rules for large banks while preserving strong capital levels that would maintain their ability to lend under stressful conditions……
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4/02/2018
Federal banking agencies issue final rule to exempt commercial real estate transactions of $500,000 or less from appraisal requirements……
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3/09/2018
Federal Reserve Board announces it will not object to the capital plan resubmitted by Capital One Financial Corporation……
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3/06/2018
Federal Reserve Board requests comments on amendments to simplify Regulation J and make it conform more closely with Regulation CC……
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3/01/2018
Agencies communicate updated expectations for next resolution plans of two domestic banks……
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2/05/2018
Agencies seek comment on proposed amendments to swap margin rule……
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2/01/2018
Federal Reserve Board releases scenarios for 2018 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises and issues instructions to firms participating in CCAR……
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1/29/2018
Agencies complete assessment of resolution plans of 19 foreign-based banks……
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1/25/2018
Agencies to give favorable Community Reinvestment Act consideration to revitalization activities in disaster areas affected by Hurricane Maria……
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1/12/2018
Federal Reserve Board announces it has finalized a rule adjusting the Board’s maximum civil money penalties……
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1/04/2018
Federal Reserve Board requests comment on proposed guidance that would clarify Board’s supervisory expectations related to risk management for large financial institutions……
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12/21/2017
Federal Reserve payments study supplement points to accelerated credit card use……
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12/21/2017
Agencies announce Shared National Credit definition change; aggregate loan commitment threshold increased to adjust for inflation, and changes in average loan size……
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12/19/2017
Agencies announce joint determinations for living wills……
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12/18/2017
Federal Reserve Board repeals Regulation C and seeks public comment on proposal to revise Regulation M……
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12/08/2017
Federal Reserve Board announces final plans for the production of three new reference rates based on overnight repurchase agreement (repo) transactions secured by Treasury securities……
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12/07/2017
Federal Reserve Board requests comment on package of proposals that would increase the transparency of its stress testing program……
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12/07/2017
U.S. banking agencies support conclusion of reforms to international capital standards……
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12/04/2017
Federal Reserve Board requests public comment on proposal to amend Regulation A……
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11/21/2017
Federal banking agencies finalize extension of certain capital rule transitions……
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11/20/2017
Agencies amend CRA regulations to conform to HMDA regulation changes and remove references to the neighborhood stabilization program……
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11/17/2017
Federal Reserve Board extends comment periods for two related proposals until February 15, 2018……
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11/08/2017
Agencies announce annual indexing of exempt consumer credit and lease transactions in 2018……
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11/03/2017
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2018……
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10/17/2017
Agencies issue temporary exceptions to appraisal requirements in areas affected by severe storms and flooding related to Hurricanes Harvey, Irma, and Maria……
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9/28/2017
Agencies extend next resolution plan filing deadline for certain domestic and foreign banks……
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9/27/2017
Agencies propose simplifying regulatory capital rules……
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9/13/2017
Agencies to propose amending CRA regulations to conform to HMDA regulation changes, and remove references to the neighborhood stabilization program……
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9/06/2017
Federal and state banking agencies issue statement on supervisory practices regarding financial institutions and borrowers affected by Hurricane Irma……
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9/01/2017
Federal Reserve Board adopts final rule to enhance financial stability……
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8/26/2017
Federal and state banking agencies issue statement on supervisory practices regarding financial institutions and borrowers affected by Hurricane Harvey……
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8/24/2017
Federal Reserve Board requests public comment on proposal to produce three new reference rates based on overnight repurchase agreement (repo) transactions secured by Treasuries……
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8/22/2017
Federal banking agencies propose extension of certain capital rule transitions……
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8/08/2017
Agencies extend resolution plan filing deadline for certain foreign and domestic banks……
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8/03/2017
Federal Reserve Board invites public comment on two proposals; corporate governance and rating system for large financial institutions……
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8/02/2017
Shared National Credit review finds risk remains high, but underwriting and risk management continue to improve……
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7/24/2017
Federal Reserve Board announces guidelines for banking entities seeking an extension to conform certain “seeding” investments in hedge funds or private equity funds to requirements of Volcker Rule……
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7/21/2017
Federal regulatory agencies announce coordination of reviews for certain foreign funds under “Volcker Rule”……
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7/19/2017
Federal banking agencies issue notice of proposed rulemaking to exempt commercial real estate transactions of $400,000 or less from appraisal requirements……
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7/05/2017
Agencies post public sections of resolution plans; announce deadline extension for two non-bank financial firms……
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6/22/2017
Federal Reserve Board releases results of supervisory bank stress tests……
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6/07/2017
Federal Reserve Board approves extended transition period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to conform investments in certain “illiquid funds” to requirements of Volcker rule……
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5/31/2017
Federal Reserve Board announces final amendments to Regulation CC and requests public comment on an additional proposed amendment……
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5/31/2017
Financial institution regulatory agencies issue advisory on appraiser availability……
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4/24/2017
Agencies announce Wells Fargo has remediated resolution plan deficiencies……
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3/24/2017
Agencies complete resolution plan evaluation of 16 domestic firms; provide resolution plan guidance to four foreign banking organizations……
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3/21/2017
Banking agencies issue joint report to Congress under the Economic Growth and Regulatory Paperwork Reduction Act of 1996……
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3/02/2017
Federal Reserve Board announces that it will not object to a resubmitted capital plan from Morgan Stanley……
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2/22/2017
Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I……
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2/10/2017
Federal Reserve Board issues revised macroeconomic scenarios for its 2017 stress testing program to correct a data series error……
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2/03/2017
Federal Reserve Board releases scenarios for 2017 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises and issues instructions to firms participating in CCAR……
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1/30/2017
Federal Reserve Board announces finalized stress testing rules removing noncomplex firms from qualitative aspect of CCAR effective for 2017……
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1/18/2017
Federal Reserve Board announces finalized rule adjusting the Board’s maximum civil money penalties……
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1/13/2017
Agencies extend comment period for advance notice of proposed rulemaking on enhanced cyber risk management standards……
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12/20/2016
Federal Reserve Board extends comment period to February 20, 2017, on proposed rule that would strengthen existing requirements and limitations on the physical commodity activities of financial holding companies……
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12/19/2016
Federal Reserve Board approves rule requiring for the first time that large banking organizations publicly disclose certain quantitative liquidity risk metrics……
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12/15/2016
Federal Reserve Board adopts final rule to strengthen the ability of government authorities to resolve in orderly way largest domestic and foreign banks operating in the United States……
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12/13/2016
Agencies announce determinations on October resolution plan submissions of five systemically important domestic banking institutions……
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12/12/2016
Federal banking agencies finalize rule expanding number of banks and savings associations qualifying for 18-month examination cycle……
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12/12/2016
Federal Reserve Board announces additional details regarding how banking entities may seek extension to conform their investments in a narrow class of funds that qualify as “illiquid funds” to the requirements the Volcker Rule……
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12/09/2016
Federal Reserve Board announces approval of technical amendments to rule that identifies global systemically important bank holding companies (GSIBs) and requires additional amounts of risk-based capital……
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12/09/2016
Federal Reserve Board invites comment on proposal to fully apply Board’s existing rating system for bank holding companies to savings and loan holding companies……
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11/30/2016
Federal Reserve Board publishes report containing summary information on debit card transactions in 2015……
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11/23/2016
Federal Reserve Board issues final rule regarding dividend payments on Reserve Bank capital stock……
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11/23/2016
Agencies issue final rule on method to adjust thresholds for exempting certain consumer credit and lease transactions and announce 2017 thresholds……
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11/23/2016
Agencies issue final rule on method to adjust the threshold for exempting small loans from special appraisal requirements and announce 2017 threshold……
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11/18/2016
Federal Reserve Board to broaden scope of post-employment restrictions for Reserve Bank senior examiners and officers……
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10/31/2016
Agencies request comment on proposed private flood insurance rule……
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10/27/2016
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2017……
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10/24/2016
Federal Reserve Board announces it has voted to affirm Countercyclical Capital Buffer (CCyB) at current level of 0 percent……
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10/24/2016
Agencies issue an exception on real estate transactions from the appraisal requirements for transactions in areas affected by severe storms and flooding in Louisiana……
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10/19/2016
Agencies issue advanced notice of proposed rulemaking on enhanced cyber risk management standards……
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10/04/2016
Agencies post public sections of “targeted submissions” for eight firms……
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9/26/2016
Federal Reserve Board invites public comment on proposed rule to modify its capital plan and stress testing rules for 2017 cycle……
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9/23/2016
Federal Reserve Board invites public comment on proposed rule that would strengthen existing requirements and limitations on the physical commodity activities of financial holding companies……
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9/08/2016
Federal Reserve Board approves final policy statement detailing framework for setting Countercyclical Capital Buffer……
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9/08/2016
Agencies issue study on banking activities and investments……
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8/02/2016
Regulated institutions to submit self-assessments of diversity policies and practices……
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8/02/2016
Agencies extend deadline for 38 resolution plan submissions……
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8/01/2016
Agencies finalize rule exempting certain commercial and financial end users from initial and variation margin requirements……
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8/01/2016
Federal Reserve Board invites comment on interim final rule adjusting the Board’s maximum civil money penalties……
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7/29/2016
Shared National Credit review finds risk remains high, but underwriting and risk management improve……
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7/25/2016
Federal Reserve Board extends comment period for advanced notice of proposed rulemaking detailing conceptual frameworks for capital standards until September 16, 2016……
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7/22/2016
Agencies issue proposal on method to adjust thresholds for exempting certain consumer credit and lease transactions……
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7/22/2016
Agencies propose method to adjust threshold for exempting small loans from special appraisal requirements……
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7/07/2016
Federal Reserve Board formalizes previously announced one-year conformance period extension for certain Volcker rule legacy fund investments……
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6/30/2016
Federal Reserve Board releases annual determination of aggregate consolidated liabilities of financial companies……
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6/17/2016
Agencies issue joint statement on new accounting standard on financial instruments-credit losses……
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6/10/2016
Agencies permit reduced content resolution plan submissions for firms with limited U.S. operations……
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6/08/2016
Agencies extend deadline for certain foreign banking organizations’ resolution plan submissions……
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6/02/2016
Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review (CCAR)……
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5/16/2016
Agencies invite comment on proposed rule to prohibit incentive-based pay that encourages inappropriate risk-taking in financial institutions……
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5/03/2016
Agencies propose net stable funding ratio rule……
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5/03/2016
Federal Reserve Board proposes rule to support U.S. financial stability by enhancing the resolvability of very large and complex financial firms……
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5/02/2016
Federal Reserve Board announces approval of joint agency notice of proposed rulemaking to implement incentive compensation provisions of section 956 of the Dodd Frank Wall Street Reform and Consumer Protection Act……
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4/19/2016
Federal Reserve Board implements new procedures for examiners to conduct off-site loan reviews for community and small regional banks……
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4/13/2016
Agencies announce determinations and provide feedback on resolution plans of eight systemically important, domestic banking institutions……
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4/07/2016
Federal Reserve Board proposes technical amendments to rule requiring global systemically important bank holding companies to hold additional amounts of risk-based capital……
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4/01/2016
Federal Reserve finalizes rule adding certain investment grade general obligation state and local municipal bonds to types of assets big banks may hold to meet liquidity needs during time of financial stress……
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3/21/2016
Agencies release guidance to issuing banks on applying Customer Identification Program requirements to holders of prepaid cards……
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3/04/2016
Agencies clarify expectations for the use of property evaluations……
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3/04/2016
Federal Reserve Board proposes rule to address risk associated with excessive credit exposures of large banking organizations to a single counterparty……
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2/19/2016
Federal banking agencies expand number of banks and savings associations qualifying for 18-month examination cycle……
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2/18/2016
Federal Reserve Board issues interim final rule regarding dividend payments on Reserve Bank capital stock……
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2/11/2016
Federal Reserve Board issues repeal of Regulation AA and requests comment on proposal to repeal Regulation C……
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1/29/2016
Federal Reserve Board extends comment period to March 21, 2016, for proposed policy statement detailing the framework the Board would follow in setting the Countercyclical Capital Buffer (CCyB)……
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1/29/2016
Federal Reserve Board extends comment period to February 19, 2016, for proposed rule to strengthen ability of largest domestic and foreign banks operating in the U.S. to be resolved without extraordinary government support or taxpayer assistance……
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1/28/2016
Federal Reserve Board releases supervisory scenarios for 2016 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises and issues instructions to firms participating in CCAR……
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1/21/2016
Federal Reserve Board extends comment period to February 16, 2016, for notice by New York Community Bancorp, Inc., to acquire Astoria Financial Corporation……
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12/21/2015
Federal Reserve Board seeks public comment on proposed policy statement detailing the framework the Board would follow in setting the Countercyclical Capital Buffer (CCyB)……
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12/21/2015
Federal Reserve Board releases guidance to its examiners and banking institutions that consolidates capital planning expectations for all large financial institutions……
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12/18/2015
Agencies issue statement on prudent risk management for commercial real estate lending……
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12/17/2015
Federal banking agencies seek comment on interagency effort to reduce regulatory burden……
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12/10/2015
Federal Reserve Board announces that it has not objected to the resubmitted capital plan from the Bank of America Corporation……
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12/10/2015
Banking agencies’ statement regarding the Basel Committee’s second consultative paper, “Revisions to the Standardized Approach for Credit Risk”……
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12/04/2015
Federal Reserve Board issues final rule providing information on Board’s revised capital rules for non-traditional stock corporations……
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11/30/2015
Federal Reserve Board approves final rule specifying its procedures for emergency lending under Section 13(3) of the Federal Reserve Act……
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11/25/2015
Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans……
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11/25/2015
Agencies announce dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions……
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11/25/2015
Federal Reserve Board approves final rule to modify its capital plan and stress testing rules……
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11/24/2015
Federal Reserve Board proposes rule requiring large banking organizations to publicly disclose several measures of their liquidity profile……
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11/24/2015
Federal Reserve Board announces implementation of several recommendations to enhance supervision of large and complex banking organizations……
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11/19/2015
Federal Reserve Board announces plan to redistribute unclaimed funds under Independent Foreclosure Review Payment Agreement……
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11/12/2015
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2016……
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11/05/2015
Shared National Credits review notes high credit risk and weaknesses related to leveraged lending and oil and gas……
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10/30/2015
Federal Reserve Board proposes new rule to strengthen the ability of largest domestic and foreign banks operating in the United States to be resolved without extraordinary government support or taxpayer assistance……
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9/03/2015
Agencies approve Bank of America to begin using advanced approaches framework to determine risk-based capital requirements……
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8/10/2015
Federal Reserve Board clarifies Regulation II regarding the inclusion of transaction-monitoring costs……
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7/28/2015
Agencies provide feedback to nonbank firms on resolution plans……
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7/20/2015
Federal Reserve Board approves final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions……
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7/20/2015
Federal Reserve Board issues final order that establishes enhanced prudential standards for General Electric Capital Corporation……
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7/17/2015
Federal Reserve Board proposes rule to modify capital planning and stress testing regulations……
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7/06/2015
Agencies post public sections of resolution plans……
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7/06/2015
Agencies announce EGRPRA outreach meeting in Kansas City focusing on rural banking issues……
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7/01/2015
Federal Reserve Board releases first determination of the aggregate consolidated liabilities of all financial companies in accordance with section 622 of the Dodd-Frank Act……
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6/18/2015
Federal Reserve Board announces approval of final rule amending Regulation D……
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6/16/2015
Agencies finalize revisions to the capital rules applicable to advanced approaches banking organizations……
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6/09/2015
Agencies issue final standards for assessing diversity policies and practices of regulated entities……
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6/02/2015
Agencies release statement on Dodd-Frank Act company-run stress tests at medium-sized financial companies……
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5/21/2015
Federal Reserve proposes adding certain investment grade general obligation state and local municipal bonds to types of assets big banks may hold to meet liquidity needs during time of financial stress……
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4/30/2015
Agencies issue final rule on minimum requirements for appraisal management companies……
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4/17/2015
Federal Reserve Board releases additional information on operating structure of Large Institution Supervision Coordinating Committee (LISCC) supervisory program……
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4/13/2015
Federal Reserve Board requests public comment on proposed technical changes to Regulation D……
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4/09/2015
Federal Reserve Board issues final rule to expand applicability of Small Bank Holding Company Policy Statement and apply it to certain savings and loan holding companies……
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3/31/2015
Agencies permit Wells Fargo to begin using advanced approaches framework to determine risk-based capital requirements……
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3/26/2015
Agencies adjust resolution plan filing deadline for nonbank financial institutions……
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3/23/2015
Agencies provide feedback on resolution plans of three foreign banking organizations……
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3/16/2015
Federal Reserve Board announces proposal requiring banking organizations to include existing Legal Entity Identifiers on certain regulatory reporting forms……
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3/05/2015
Federal Reserve releases results of supervisory bank stress tests……
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2/26/2015
Federal Reserve Board extends comment period until April 3 for proposed rule to implement capital surcharges for largest, most systemically important U.S. bank holding companies……
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2/24/2015
Financial regulators issue guidance encouraging youth savings programs, address frequently asked questions……
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2/18/2015
Agencies announce extension of resolution plan submission for three financial institutions……
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2/18/2015
Agencies announce reissuance of checks related to the Independent Foreclosure Review……
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1/29/2015
Federal Reserve Board invites public comment on proposed rule to expand the applicability of Board’s Small Bank Holding Company Policy Statement……
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1/29/2015
Regulators release guidance on private student loans with graduated repayment terms at origination……
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1/14/2015
Agencies announce additional EGRPRA outreach meetings……
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12/23/2014
Federal Reserve Board announces appraisals for Higher-Priced Mortgage Loans exemption threshold adjustment……
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12/22/2014
Banking agencies’ statement regarding the Basel Committee’s consultative paper “Revisions to the Standardized Approach for credit risk”……
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12/18/2014
Federal Reserve Board announces banking entities have until July 21, 2016, to conform investments in and relationships with covered funds and foreign funds that were in place prior to December 31, 2013……
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12/16/2014
Agencies announce rules to reflect ISDA protocol in regulatory capital and liquidity coverage ratio rules……
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12/12/2014
Federal Reserve Board requests comment for depository institution holding companies with non-traditional capital structures……
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12/09/2014
Federal Reserve Board proposes rule to further strengthen the capital positions of the largest, most systemically important U.S. bank holding companies……
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11/25/2014
Agencies jointly provide feedback on Wells Fargo’s second resolution plan and move resolution plan submission date for three companies……
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11/25/2014
Federal Reserve Board announces proposed enhanced prudential standards for regulation and supervision of General Electric Capital Corporation……
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11/20/2014
Federal Reserve Board announces two separate reviews are underway regarding examinations of large banking organizations……
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11/18/2014
Sens. Elizabeth Warren, D-Mass., and Joe Manchin, D-W.Va., are asking President Obama to nominate Wall Street outsiders to a pair of vacancies on the central bank’s board of governors….
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11/18/2014
Agencies propose technical corrections and clarifications to the capital rules applicable to advanced approaches banking organizations……
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11/18/2014
The OCC bowed to industry pressure in late September to remove the word “ensure” from its heightened expectations guidelines for the biggest institutions after bankers argued it would create unintentional litigation risk for boards of directors. But few noticed a month later when the OCC inserted vi…
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11/17/2014
Banks are facing enhanced scrutiny from examiners, causing them to sever ties with businesses they view as high-risk, but regulators are also pressuring them not to close those accounts, fearing financial disenfranchisement….
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11/17/2014
WASHINGTON — The Federal Reserve met with members of the world’s largest banks and other global financial regulators on Monday to discuss alternatives to discredited interbank reference rates….
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11/14/2014
The Department of Justice and the Federal Deposit Insurance Corp. have agreed to launch preliminary investigations into Operation Choke Point….
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11/13/2014
Trade groups press federal banking regulators to make the Basel III capital rule less onerous….
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11/13/2014
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2015……
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11/13/2014
Senate Democrats have tapped Sen. Elizabeth Warren, D-Mass., to join the leadership ranks next year to serve as a bridge to liberal groups….
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11/11/2014
Financial industry groups are planning to call on the Treasury Department and other financial regulators this week to provide more transparency to the process for designating a nonbank as a potential threat to the economy….
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11/11/2014
WASHINGTON — Unions and left-leaning public interest groups will meet personally with Federal Reserve Board Chair Janet Yellen on Friday to ask for greater transparency at the agency, including in its selection of new regional bank heads….
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11/10/2014
Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor….
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11/07/2014
Credit risk in the Shared National Credit portfolio is high; leveraged lending remains a concern……
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11/05/2014
Federal Reserve Board issues final rule to implement section 622 of the Dodd-Frank Act……
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11/04/2014
A U.S. District Court decision this week that blocked the use of a controversial legal theory in a fair housing case on discrimination has ignited industry hopes that the Supreme Court will take a similar stance on a separate, larger case pending before the high court….
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11/03/2014
During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders….
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10/31/2014
The net stable funding ratio issued by global regulators is aimed at ensuring a bank has enough strong liquidity to back its particular lineup of assets….
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10/29/2014
Policymakers are closing in on developing rules key to ensuring the ability of the government to take over failing behemoths, but the ultimate success of their plan may depend on how fast regulators can act….
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10/23/2014
WASHINGTON — Risks posed by rising interest rates are once again a top theme in stress test scenarios released by the Federal Reserve Board on Thursday….
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10/23/2014
The Fed’s hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments….
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10/23/2014
Federal Reserve Board releases supervisory scenarios for 2015 capital planning and stress testing……
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10/22/2014
Richard Davis says despite recently announced changes to reassure lenders about putbacks, he will stay on the sidelines due concerns about compliance and litigation risk….
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10/22/2014
Six federal agencies jointly approve final risk retention rule……
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10/21/2014
WASHINGTON — U.S. regulators finalized a securities risk retention rule on Tuesday designed to set the stage for the future of the secondary mortgage market….
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10/20/2014
WASHINGTON — The Consumer Financial Protection Bureau finalized a rule Monday that will allow institutions that limit the amount of customer data they share to post annual privacy notices online rather than by paper delivery….
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10/17/2014
Federal Reserve Board issues final rule to modify regulations for capital planning and stress testing and released instructions for 2015 capital planning cycle……
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10/11/2014
Federal Reserve Board and FDIC welcome ISDA announcement……
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10/09/2014
Federal Reserve Board releases answers to frequently asked questions regarding competitive review process for bank acquisitions, mergers, and other transactions……
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10/03/2014
The House Oversight Committee has turned its focus from the Justice Department’s Operation Choke Point to FTC investigations that target payment processing firms….
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10/02/2014
FHA commissioner Galante initiated the handbook rewrite to provide more detail and certainty for lenders….
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10/02/2014
The Supreme Court said Thursday it would hear a case related to the use of “disparate impact” theory to pursue entities for unintentional discrimination, a move that could have significant ramifications for banks….
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9/30/2014
Federal Reserve Board announces it will begin a quantitative impact study to evaluate potential effects of its revised regulatory capital framework on insurance holding companies……
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9/30/2014
WASHINGTON — Loans for manufactured homes typically come with higher interest rates and fewer consumer protections than more conventional mortgages, the Consumer Financial Protection Bureau said Tuesday….
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9/30/2014
The investigative story alleging weak supervision by the Federal Reserve Bank of New York has sent shockwaves through the regulatory community, but whether it will lead to any change of course in policy is still an open question….
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9/29/2014
WASHINGTON — Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday….
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9/29/2014
The Consumer Financial Protection Bureau’s action against Flagstar Bank on Monday marked a series of firsts for the agency, including the first time it enforced its new mortgage servicing rules and the first time it banned a servicer from servicing new loans until fixes are made….
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9/25/2014
Officials sitting on the Basel Committee announced progress on a Net Stable Funding Ratio and other measures being developed by the international regulatory body….
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9/25/2014
Regulatory actions taken against U.S. Bank on Thursday proved once again that vendor relationships, even former ones, can cost a bank for years to come….
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9/23/2014
Speaking at American Banker’s Regulatory Symposium, Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig said complex firms should not discount regulators’ warnings of heightened supervision if their 2015 resolution plans fail to impress….
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9/22/2014
A panel at American Banker’s Regulatory Symposium about the Department of Justice program featured a spirited debate about whether it is prudently fighting fraud or cooling banks’ relationships with legal businesses….
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9/19/2014
Industry groups have urged the bank regulators to implement more wholesale changes in the second review mandated by a 1996 law, saying the outcome of the first review was disappointing….
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9/18/2014
Federal Reserve Board publishes report containing summary information on debit card transactions in 2013……
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9/15/2014
U.S. regulators are continuing to send a clear message about global financial services standards forged with other countries: they’re not strong enough….
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9/11/2014
National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions….
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9/10/2014
House Republicans warned Wednesday that bank examiners are going to continue to pursue small institutions as part of a government crackdown on certain merchants such as payday lenders, pawn shops and gun dealers….
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9/08/2014
Agencies request comment on proposed questions and answers regarding community reinvestment……
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9/03/2014
Federal banking regulators finalize liquidity coverage ratio……
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9/03/2014
Agencies seek comment on swap margin requirements……
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9/03/2014
WASHINGTON — Regulators were set Wednesday to consider a final liquidity rule for large banks that makes a number of concessions to the industry….
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9/03/2014
The Federal Reserve Board’s Beige Book said that lenders are cautious on residential lending but “fiercely competitive” over commercial lending….
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8/22/2014
Federal Reserve Board requests comment on proposal to repeal Regulation AA (Unfair or Deceptive Acts or Practices)……
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8/19/2014
WASHINGTON — Friends of Traditional Banking, a banking SuperPAC, has narrowed its congressional elections “watch list” for the November midterm races to four tight Senate contests….
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8/15/2014
Agencies provide additional guidance for certain resolution plans……
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8/07/2014
Banks and other lenders appear to be waiting on a regulatory signal from the Federal Housing Finance Agency before approving loans for borrowers with less than stellar credit profiles….
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8/06/2014
Federal Reserve announces it has not objected to a resubmitted capital plan from Bank of America Corporation……
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8/05/2014
Agencies provide feedback on second round resolution plans of “First-Wave” filers……
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7/30/2014
Consumer Financial Protection Bureau Director Richard Cordray told House lawmakers on Wednesday that allegations of discrimination and retaliation among agency employees were due to its efforts to rapidly build itself up following its creation three years ago….
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7/29/2014
WASHINGTON — Federal and state regulators announced a settlement Tuesday with Colfax Capital Corp. and its subsidiary over charges it “lured” 17,000 U.S. servicemembers into expensive loans with hidden charges and withheld information on billing statements….
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7/28/2014
WASHINGTON — The Federal Deposit Insurance Corp. said Monday that it has withdrawn a list of merchant categories, including payday lenders, debt consolidation firms, pornography businesses and others, that it said warranted heightened attention by banks processing their transactions….
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7/25/2014
WASHINGTON — Due to an improving jobs market and better credit conditions, homebuilder D.R. Horton, Inc. is betting the time is right to cater to the first-time homebuyer….
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7/25/2014
Federal Reserve announces it has not objected to a re-submitted capital plan from Zions Bancorporation……
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7/21/2014
Top lawmakers on the House Financial Services Committee debated the value of the Dodd-Frank Act in dueling reports on Monday, commemorating the financial reform law’s fourth anniversary….
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7/16/2014
Federal Reserve Board Chair Janet Yellen on Wednesday defended the credibility of living will plans submitted by the country’s largest banks, saying it was a complex but useful process….
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7/16/2014
Agencies finalize technical correction of risk-based capital rules……
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7/16/2014
Under a measure passed Wednesday, the use of federal funds to punish banks for providing accounts to pot businesses would be prohibited….
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7/16/2014
The push to expand banking services at the country’s post offices continues to gain momentum, though numerous questions remain about the design and scope of such an effort….
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7/16/2014
A Senate Banking Committee hearing looked at whether some regional banks that meet the Dodd-Frank Act’s “systemically important” threshold belong in the same group as global giants….
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7/16/2014
WASHINGTON — Banks across the country continued to see widespread signs of increased lending to consumers and businesses in the third quarter, according to a Federal Reserve report released Wednesday….
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7/15/2014
The Federal Deposit Insurance Corp. has proposed tailoring its system for pricing banks’ insurance premiums to correspond with new Basel capital requirements….
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7/15/2014
The FDIC, OCC and Federal Reserve all plan to testify Tuesday that banks, not their regulators, are ultimately responsible for deciding who is an appropriate customer….
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7/14/2014
Federal and state authorities on Monday sought to rein in three companies accused of exploiting consumers struggling to pay off their debts….
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7/11/2014
Last year’s Supreme Court decision validating certain same-sex marriages has implications for laws implemented by the consumer bureau….
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7/11/2014
The Consumer Financial Protection Bureau says brokers will have to comply with compensation limits even if they are funding loans via a warehouse line of credit….
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7/10/2014
The Consumer Financial Protection Bureau settlement with ACE Cash Express Thursday sends another strong message about practices it may target in industry rules….
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7/09/2014
WASHINGTON — The Office of the Comptroller of the Currency on Wednesday issued a final rule increasing examination fees for large institutions….
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7/09/2014
Julian Castro, who was confirmed as the new secretary for housing and urban development, is bound to face continued industry lobbying to lower premiums paid to the Federal Housing Administration….
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7/09/2014
Rep. Maxine Waters, D-Calif., is warning that a key House appropriations bill risks undercutting regulators’ ability to oversee the financial system….
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7/08/2014
The Consumer Financial Protection Bureau is allowing lenders to skip “ability-to-repay” rule when transferring a loan to the kin of a deceased borrower or for other life events….
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7/08/2014
Rep. Darrell Issa on Tuesday accused the Justice Department and FDIC of letting the anti-fraud crackdown called Operation Choke Point interfere with legitimate banking business. He also said that legal pot businesses should have access to the banking system….
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7/08/2014
Nearly six months into her first term as Federal Reserve Board chair, Janet Yellen has sought to put financial stability on nearly equal footing as monetary policy….
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7/07/2014
Federal Reserve Board publishes report on Independent Foreclosure Review and the Payment Agreement……
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7/02/2014
Agencies issue host state loan-to-deposit ratios……
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7/02/2014
WASHINGTON — The Consumer Financial Protection Bureau’s watchdog is estimating a total price tag of nearly $216 million for the bureau’s renovation of its headquarters….
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7/02/2014
Agencies release public sections of resolution plans……
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7/01/2014
Agencies issue guidance for home equity lines of credit nearing their end-of-draw periods……
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7/01/2014
The Consumer Financial Protection Bureau’s effort to analyze the mortgage market has touched off a debate about privacy and whether the agency is going too far in its efforts to collect personal financial data….
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6/26/2014
Data now available for use evaluating the individual systemic footprint of 33 large U.S. bank holding companies……
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6/25/2014
The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development….
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6/24/2014
WASHINGTON — The Federal Reserve Board said Tuesday it will give four large banking firms, including Citigroup, more than six additional months to resubmit capital plans as part of stress test requirements overseen by the central bank….
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6/24/2014
Deadline extension for capital plan resubmissions, no increased capital distribution until Federal Reserve approves, for four firms……
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6/16/2014
WASHINGTON — A financial education partnership between public libraries and the Consumer Financial Protection Bureau has skyrocketed to more than 98 library systems in the two months since the pilot program launched….
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6/13/2014
Federal banking regulators finalize joint supplemental guidance on income tax allocation agreements……
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6/12/2014
Federal Reserve Board invites comment on proposal to modify regulations for capital planning and stress testing……
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6/12/2014
Sen. Lindsay Graham questioned payments to a senior advisor of Shaun Donovan, who currently heads the Department of Housing and Urban Development and has been nominated to lead the Office of Management and Budget….
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6/09/2014
Lenders are seeking fixes to a proposal by the Consumer Financial Protection Bureau that would allow institutions to repay points and fees that inadvertently exceeded the “qualified mortgage” rule….
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6/05/2014
The Federal Deposit Insurance Corp.’s first-quarter report on bank earnings said the ratio of loan-loss reserves to noncurrent loans rose for the sixth straight quarter, but some doubt the reserve “coverage ratio” is rebounding fast enough….
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6/04/2014
Federal bank regulatory agencies seek comment on interagency effort to reduce regulatory burden……
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6/03/2014
The Senate Banking Committee approved a bill Tuesday to reauthorize the Terrorism Risk Insurance Act for seven years….
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6/03/2014
The Senate Banking Committee approved legislation Tuesday to extend the Terrorism Risk Insurance Act, a program due to expire at yearend. It also considered making a legislative fix to the Dodd-Frank Act. Here’s what happens next….
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6/02/2014
Lawmakers are ramping up pressure on the Department of Justice and banking regulators to curtail their efforts under Operation Choke Point, including prepping legislation that would grant institutions a safe harbor in certain circumstances….
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5/30/2014
Lawmakers are working behind the scenes to spur a potential vote on legislation that would ease capital standards for insurance companies as soon as next week….
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5/29/2014
The Securities and Exchange Commission appears poised to soon finalize a plan to reform the $2.6 trillion money market mutual fund industry….
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5/28/2014
WASHINGTON — Stanley Fischer was sworn in as a member of the Federal Reserve Board on Wednesday….
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5/28/2014
Banks are still feeling negative effects from last year’s sudden rise in medium- and long-term interest rates, but plenty of signs in the Federal Deposit Insurance Corp.’s latest industry update continue to point to a lending resurgence in the near future….
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5/22/2014
House Republicans aren’t likely to cease their attacks against the Consumer Financial Protection Bureau anytime soon, but they appear to be swapping playbooks….
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5/22/2014
Federal Reserve issues final rules to repeal its Regulations DD and P and to amend Regulation V……
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5/21/2014
The Senate confirmed economist Stanley Fischer to the Federal Reserve Board Wednesday afternoon….
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5/20/2014
The Consumer Financial Protection Bureau is urging companies that use credit scoring models to treat medical debt differently than other debt….
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5/15/2014
The Senate Banking Committee passed major legislation to overhaul the housing finance system on Thursday….
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5/08/2014
Federal Reserve Board invites comment on proposed rulemaking implementing section 622 of the Dodd-Frank Act……
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5/07/2014
WASHINGTON — Federal Reserve Board Chair Janet Yellen raised financial stability concerns Wednesday about a key benchmark rate that has remained at historically low levels since 2008….
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5/06/2014
WASHINGTON — The Consumer Financial Protection Bureau issued a proposal Tuesday that would allow financial institutions to post their privacy notices online rather than by paper delivery under certain circumstances….
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5/01/2014
WASHINGTON — Federal Reserve Board Chair Janet Yellen on Thursday emphasized the importance of tailoring new rules meant to curb risks by the largest banks to smaller-sized institutions….
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4/30/2014
WASHINGTON — The Federal Reserve Board on Wednesday neared the halfway mark of unwinding its unprecedented bond buying program, reducing its purchases to $45 billion….
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4/29/2014
WASHINGTON — The Senate Banking Committee voted Tuesday to advance three nominations to the Federal Reserve Board….
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4/29/2014
Wells Fargo & Company is opening two techier smaller branches in the D.C. area….
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4/28/2014
WASHINGTON — The Office of the Comptroller of the Currency plans to raise supervisory assessments for large banks and thrifts by as much as 14% starting in the fall to account for the agency’s added regulatory responsibilities following passage of the Dodd-Frank Act….
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4/28/2014
Federal Reserve Board announces it is requiring Bank of America Corporation to resubmit its capital plan and to suspend planned increases in capital distributions……
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4/24/2014
Rep. Elijah Cummings, D-Md., is urging the House Committee on Oversight and Reform to investigate why regulators abruptly ended the independent foreclosure review and settled with banks last year….
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4/23/2014
A Democratic coalition of nearly two dozen lawmakers is urging the Department of Education to change its rules to better protect students from unfair banking practices at colleges….
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4/22/2014
The Consumer Financial Protection Bureau is expected to change how fees are defined for a key test to determine if a loan is a “qualified mortgage,” according to observers….
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4/16/2014
The Obama administration is urging activists like the National Council of La Raza to support legislation to overhaul the housing finance market, ahead of a Senate Banking Committee vote scheduled for late April….
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4/16/2014
WASHINGTON — Good bank supervision is the best wait to limit risks to the financial system, but monetary policy can be used to promote stability in rare instances, Federal Reserve Gov. Jeremy Stein said Wednesday….
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4/15/2014
A survey by the Mortgage Bankers Association points to a solid increase in March new home sales after a slow start to the spring selling season….
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4/15/2014
WASHINGTON — Federal Reserve Board Chair Janet Yellen said Tuesday that the largest banks need to face higher capital requirements to stem potential risks to the financial system….
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4/14/2014
The Senate Banking Committee is scheduled to vote on its bill to overhaul the mortgage finance market on April 29, but questions are now being raised about whether that date will slip, as supporters struggle to secure additional votes….
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4/11/2014
Comptroller of the Currency Thomas Curry sought to reassure community bankers this week that the agency does not expect them to comply with its “heightened expectations” proposal aimed at bolstering risk management and improving governance at the biggest banks….
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4/10/2014
A top House Financial Services Committee lawmaker said Thursday that he will subpoena Consumer Financial Protection Bureau officials if they again refuse to testify about allegations of employee discrimination and retaliation….
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4/10/2014
A bipartisan group of senators announced a deal Thursday to reauthorize and extend the country’s terrorism risk insurance program, to be taken up by the Banking Committee in coming weeks….
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4/09/2014
A study released by the Federal Deposit Insurance Corp. says statistical trends suggest that community banks have been resilient and will remain relevant, despite the rapid decline in charters….
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4/09/2014
Regulators slammed Bank of America on Wednesday with their toughest enforcement action to date on shady marketing and billing practices for add-on products like identity protection, forcing it to pay $772 million in restitution and fines. But Consumer Financial Protection Bureau officials indicated…
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4/08/2014
The eight largest financial institutions will have to raise roughly $68 billion over the next several years to meet a tough new leverage ratio finalized by regulators on Tuesday….
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4/08/2014
WASHINGTON — Banking regulators were set to move ahead Tuesday with a final plan designed to prevent the largest banks from becoming as highly leveraged as they were in the run-up to the financial crisis….
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4/08/2014
The Federal Deposit Insurance Corp. is projecting a nearly 8% decline in deposit insurance assessments this year with improvement in the indicators that determine institutions’ rates….
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4/08/2014
Members of the House Financial Services Committee grilled chief lawyers from the banking agencies on Tuesday, airing a wide range of grievances, including some related to a temporary Volcker Rule exemption and a Department of Justice crackdown on the payday loan industry….
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4/07/2014
The National Association of Realtors estimates that the Federal Housing Administration’s 1.35% annual premium stopped at least 125,000 renters from buying a home last year….
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4/07/2014
The Consumer Financial Protection Bureau Monday announced a partnership with libraries and other federal regulators to provide librarians with unbiased financial literacy education materials….
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4/07/2014
Federal Reserve Board will give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations covered by the Volcker rule……
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4/04/2014
Programs to help underwater borrowers with second liens are languishing and the Treasury’s authority to create and fund new ones under the Troubled Asset Relief Program expired several years ago….
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4/04/2014
With employee practices at the Consumer Financial Protection Bureau in the spotlight, CFPB Director Richard Cordray said his agency is focused on ensuring fair treatment….
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4/03/2014
Rep. Scott Garrett, R-N.J., a senior member of the House Financial Services Committee, introduced a bill Thursday designed to increase transparency at the Federal Stability Oversight Council….
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4/01/2014
The Federal Home Loan Bank of Atlanta has appointed Bank of Georgetown Chairman Michael Fitzgerald to its board of directors….
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4/01/2014
WASHINGTON — The Federal Reserve Board is scheduled to meet next week to vote on a tougher leverage ratio for the country’s eight largest U.S. banks, the agency announced Tuesday….
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3/31/2014
WASHINGTON — The Commodity Futures Trading Commission and the Office of Financial Research on Monday reached a deal on a joint project to collect data from registered swap repositories….
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3/31/2014
Two senior House Democrats are raising concerns about a highly anticipated House Financial Services subcommittee hearing scheduled for Wednesday to examine grievances filed by employees at the Consumer Financial Protection Bureau….
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3/28/2014
Recent comments by Comptroller of the Currency Thomas Curry, suggesting steps to make large-bank executives accountable for anti-money laundering problems, have reignited the debate over where to direct blame for Bank Secrecy Act violations….
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3/28/2014
M&A has been marked by the pursuit of earning assets in recent years, but banks that have cracked the organic loan growth code are looking to buy deposit-heavy banks before interest rates rise….
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3/26/2014
Senate Banking members examined concerns about alternative lending products such as payday loans on Wednesday, though consensus on what, if any, changes are needed to the industry remains elusive….
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3/26/2014
A Senate Commerce Committee hearing Wednesday focused on Target and other organizations could have done to prevent massive breaches and possible legislative steps can be taken to improve data security….
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3/26/2014
Federal Reserve releases results of Comprehensive Capital Analysis and Review (CCAR)……
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3/25/2014
The top five U.S. financial institutions benefited from a funding advantage in key markets prior to the enactment of regulatory reform, according to a study released Tuesday by economists at the Federal Reserve Bank of New York….
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3/25/2014
Sen. Heidi Heitkamp is striking an optimistic tone for mortgage finance reform, saying she’s hopeful that a Senate Banking Committee plan to overhaul the market could make it to the chamber floor for a vote this year….
read more »
3/24/2014
Federal banking regulators issued a proposal that would establish standards for states that register and track appraisal management companies….
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3/24/2014
Agencies issue proposed rule on minimum requirements for appraisal management companies……
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3/24/2014
Federal Reserve issues full corrected results for the 2014 Dodd-Frank Act stress test……
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3/21/2014
Federal Reserve issues corrected results for the 2014 Dodd-Frank Act stress test……
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3/21/2014
Housing and lending groups are urging the government sponsored enterprise regulator and conservator to keep the Fannie Mae and Freddie Mac loan limits where they are for now….
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3/20/2014
WASHINGTON — The Consumer Financial Protection Bureau released a report Thursday showing consumers are being “hounded” by debt collectors, adding more fuel to the fire in the agency’s efforts to crack down on the industry’s bad actors….
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3/19/2014
WASHINGTON — The Federal Reserve Board on Wednesday took yet another step in unwinding its bond buying program, paring it to $55 billion….
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3/19/2014
Consumer advocates clashed with representatives of the data broker industry about whether to regulate certain kinds of credit scores and other data that may fall in between the cracks of existing laws….
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3/18/2014
Details in recent legislation unveiled by Sens. Tim Johnson and Mike Crapo are stoking fresh concerns among Fannie Mae and Freddie Mac shareholders now embroiled in lawsuits over their share of profits from the mortgage giants….
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3/17/2014
Two House Democrats joined Sen. Elizabeth Warren in asking for a meeting with Attorney General Eric Holder about an inspector general’s finding that his department’s focus on mortgage fraud has not been as strong as advertised….
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3/17/2014
The bill released by Sens. Tim Johnson and Mike Crapo would create a reinsurance fund to recoup losses on securities, establish a common securitization platform for the secondary mortgage market and open access to the secondary market for smaller lenders through a cooperative….
read more »
3/14/2014
The legislation grandfathering certain CLOs and clarifying which commercial loan securities are exempt from the Dodd-Frank Act trading ban were part of a package of bills approved by the House Financial Services Committee….
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3/14/2014
The Senate Banking Committee has forged a strong bipartisan agreement to reform the housing finance market, but how — and whether — that effort gets picked up in 2015 is still very much in question….
read more »
3/13/2014
Sen. Elizabeth Warren, D-Mass., urged Banking Committee leaders on Thursday to give panel members ample time to consider their pending bill to overhaul the housing finance market before bringing the legislation to a markup….
read more »
3/13/2014
Stanley Fischer, the nominee to become vice chair of the Federal Reserve Board, told senators his three years at Citigroup are not a roadblock but in fact boost his credentials as a regulator….
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3/12/2014
The Federal Reserve Board has lifted enforcement actions against four financial companies….
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3/12/2014
In 30 states and the District of Columbia, attorneys general are urging the Consumer Financial Protection Bureau to adopt new debt collection rules that will “better protect consumers and military service members.”……
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3/12/2014
WASHINGTON — Senate Banking Committee leaders are proposing to capitalize a new mortgage cooperative with a government loan to ensure small and even regional lenders can sell their loans for cash….
read more »
3/11/2014
The Federal Reserve Board has the authority to act on its own to apply different capital requirements for insurance companies than those it has already mandated for banks, several senators said Tuesday….
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3/11/2014
Cardinal Financial (CFNL) in Tysons Corner, Va., has merged its two banks….
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3/10/2014
The Office of the Comptroller of the Currency has joined other regulators in seeking to simplify megabanks’ myriad legal entities. But instead of being focused on helping a bank to unwind in a failure, the OCC argues simplification can greatly help operational efficiency….
read more »
3/07/2014
It is still unresolved how regulators will apply capital requirements to insurance companies under the Dodd-Frank regime for systemic firms, but members of Congress are urging the Federal Reserve Board to be flexible….
read more »
3/06/2014
Banks have stepped up efforts to extend the government’s terrorism risk insurance program, fearing that Congress may fail to act before it is scheduled to expire at yearend….
read more »
3/05/2014
Consumers were less eager to seek new mortgage loans for home purchases in the first quarter, in part due to cold weather across swaths of the country, according to a Federal Reserve report released Wednesday….
read more »
3/05/2014
Agencies issue final Dodd-Frank Act stress test guidance for medium-sized firms……
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3/04/2014
While the budget was once again focused on other issues than financial services, it provided an update on the White House’s priorities as well as a prediction that the FHA’s fortunes will soon improve….
read more »
2/27/2014
Federal Reserve Board announces 30-day comment period extension for proposed rulemaking regarding physical commodity activities conducted by financial holding companies……
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2/25/2014
Federal Reserve Board announces release dates for the latest supervisory stress tests results and related results from the Comprehensive Capital Analysis and Review……
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2/24/2014
Federal Reserve Board to begin publishing semi-annual report with aggregate data and other information regarding banking applications……
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2/21/2014
Agencies permit certain banking organizations to begin using advanced approaches framework to determine risk-based capital requirements……
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2/21/2014
Two Florida men have been sentenced to serve seven years in federal prison for swindling more than $4 million from borrowers who were behind on their mortgages….
read more »
2/20/2014
How the central bank will apply bank-centered rules to systemically important financial institutions is one of the biggest unanswered questions of the post-financial crisis regulatory system….
read more »
2/12/2014
Federal Reserve seeks comment on repealing its Regulations DD and P and amending Regulation V……
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2/11/2014
At Janet Yellen’s first appearance on Capitol Hill as the head of the Federal Reserve Board, the country’s top central banker did little to depart from her predecessors’ views on key issues, often cautiously echoing his message from the past eight years….
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2/04/2014
Commercial and multifamily mortgage lenders are vulnerable to the strict regulatory climate faced by their colleagues in home finance, Mortgage Bankers Association President David Stevens says….
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1/10/2014
President Obama on Friday formally announced plans to nominate three top officials to serve as governors of the Federal Reserve Board….
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1/10/2014
President Obama announced three nominations to the Federal Reserve Board on Friday, but left the job of a second vice chair in charge of bank supervision unfilled….
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1/07/2014
Manhattan U.S. Attorney Preet Bharara on Tuesday defended his decision not to prosecute JPMorgan Chase for allegedly facilitating Bernie Madoff’s Ponzi scheme, calling a deferred-prosecution agreement and monetary penalty an “appropriate” resolution of the bank’s alleged failings….
read more »
12/27/2013
Agencies reviewing treatment of collateralized debt obligations backed by trust preferred securities under final rules implementing the “Volcker rule”……
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12/24/2013
Federal Reserve Board issues final rule on treatment of uninsured U.S. branches and agencies of foreign banks under section 716 of Dodd-Frank……
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12/23/2013
Federal Reserve Board seeks comment on proposed amendments to Regulation A regarding emergency lending authority……
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12/20/2013
Federal Reserve Board advises large financial institutions to carefully evaluate transactions intended to reduce risk……
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12/19/2013
Federal financial regulators extend comment period for proposed policy statement on assessing diversity policies and practices of regulated entities……
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12/19/2013
Federal banking regulators seek comment on joint supplemental guidance on income tax allocation agreements……
read more »
12/19/2013
Agencies issue FAQ document regarding collateralized debt obligations backed by trust preferred securities under final rules implementing the “Volcker Rule”……
read more »
12/13/2013
Agencies issue statement on supervisory approach for qualified and non-qualified mortgage loans……
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12/12/2013
Agencies issue final rule to exempt subset of higher-priced mortgage loans from appraisal requirements……
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12/12/2013
In theory, the FDIC’s plan to seize and dismantle a troubled megabank is the furthest thing from a government bailout. But experts are increasingly worried that even if the plan works as promised, it might be perceived differently by the public….
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12/10/2013
Agencies issue final rules implementing the Volcker Rule……
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12/10/2013
Federal Reserve Board announces banking entities covered by section 619 of the Dodd-Frank Act are required to fully conform their activities by July 21, 2015……
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12/06/2013
Federal Reserve Board issues final rule aligning market risk capital rule with Basel III……
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12/05/2013
Federal Reserve Board releases guidance reminding financial institutions to exercise appropriate risk management and oversight when using service providers……
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12/05/2013
Federal Reserve Board announces final rule regarding Federal Reserve Bank accounts and services for financial market utilities designated as systemically important……
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12/05/2013
Treasury Secretary Jack Lew vowed Thursday that regulators will release a strict version of a long-awaited regulation that would ban proprietary trading and investment in hedge and equity funds by banks….
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12/03/2013
FinCEN, Federal Reserve finalize rule amending definitions in the Bank Secrecy Act……
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12/02/2013
Federal Reserve Board announces it has not objected to re-submitted capital plans from The Goldman Sachs Group, Inc. and JPMorgan Chase & Co….
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11/25/2013
Regulators are closing in on a final Volcker Rule to restrict proprietary trading, dialing up certain requirements related to documentation while providing some flexibility on “market making” activities. This story includes a fully interactive timeline on Volcker’s contentious history….
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11/21/2013
The regulatory and business environment makes most transformational deals highly unattractive and potentially dangerous for big banks, according to the leaders of Bank of America, U.S. Bancorp and PNC….
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11/19/2013
Agencies release regulatory capital estimation tool for community banks……
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11/17/2013
A detailed look at how the freshman senator from Massachusetts has used her first 10 months in office, including her own insights from an interview with American Banker….
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11/15/2013
Federal Reserve Board announces it has not objected to a re-submitted capital plan from Ally Financial Inc….
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11/15/2013
Agencies release final revisions to interagency questions and answers regarding community reinvestment……
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11/14/2013
Fed Vice Chair Janet Yellen touched on a variety of regulatory issues during her lengthy confirmation hearing, including the Volcker Rule, efforts by regulators to be more transparent, and how to supervise systemically important nonbank firms….
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11/07/2013
Federal Reserve Board issues final policy statement for developing scenarios for future capital planning and stress testing exercises……
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11/05/2013
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2014……
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11/01/2013
Federal Reserve Board releases supervisory scenarios and instructions for 2014 capital planning and stress testing……
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10/29/2013
Sen. Elizabeth Warren weighed in publicly for the first time on the substance of the housing finance reform debate on Tuesday, endorsing a limited but explicit government guarantee, strong underwriting rules and servicer oversight, and secondary market access for smaller institutions….
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10/28/2013
Senate Majority Leader Harry Reid has started the process to end debate on Rep. Mel Watt, D-N.C., President Obama’s nominee to head the Federal Housing Finance Agency….
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10/22/2013
Federal regulators provide guidance on Qualified Mortgage fair lending risks……
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10/16/2013
Regulators release amended consent orders for EverBank……
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10/15/2013
In just under a year, Sen. Heidi Heitkamp has emerged as a key player on the Banking Committee, helping to work on a bipartisan housing finance reform bill and championing legislation to provide relief to small banks….
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10/11/2013
Agencies request comment on proposed flood insurance rule……
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10/10/2013
Credit risk in the Shared National Credit portfolio unchanged……
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10/09/2013
Regulators encourage institutions to work with borrowers affected by government shutdown……
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10/03/2013
Agencies release public sections of the second submission of resolution plans for 11 institutions……
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10/02/2013
The top executives from Goldman Sachs and Bank of America Corp. on Wednesday warned of “serious repercussions” if the U.S. government breaches the debt ceiling without a political solution….
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10/02/2013
Capital One will pay nearly $3 million to settle discrimination charges against a bank it bought four years ago….
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9/24/2013
Federal Reserve Board issues interim final rules clarifying how companies should incorporate Basel III reforms into capital and business projections……
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9/24/2013
Federal regulators issue guidance on reporting financial abuse of older adults……
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9/20/2013
A Small Business Administration program intended to give veteran-owned companies easier access to loans has come under fire for high default rates that have cost taxpayers over $31 million….
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9/13/2013
The Federal Deposit Insurance Corp. has lifted a consent order with Seattle Bank, which recently added $10 million of capital….
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9/12/2013
Sen. Elizabeth Warren continued her drive to end “too big to fail” in a speech on Thursday, arguing lawmakers shouldn’t wait until regulators have fully implemented the Dodd-Frank Act before taking action….
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9/09/2013
The Federal Home Loan Bank of Chicago announced Monday it plans to issue mortgage-backed securities guaranteed by the Government National Mortgage Association, or Ginnie Mae….
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9/09/2013
Neil Barofsky, who became known as a staunch advocate for transparency and accountability as the watchdog of the Troubled Asset Relief Program, is joining the law firm Jenner & Block as a partner….
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9/03/2013
Agencies provide model template for submission of tailored resolution plans……
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8/23/2013
Federal Reserve announces that it has not objected to a re-submitted capital plan from BB&T Corporation……
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8/19/2013
Federal Reserve Board releases paper on capital planning at large bank holding companies……
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8/16/2013
The Federal Reserve Board said Friday it plans to collect $440 million in fees from 70 companies for increased supervision by the agency….
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8/16/2013
The Government Accountability Office is poised this fall to unveil the first of two reports on whether big banks benefit from an implicit subsidy due to the perception that they are “too big to fail,” adding more fuel to an already contentious debate….
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8/16/2013
Federal Reserve Board issues a final rule establishing annual assessment fees for supervision and regulation of large financial companies……
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8/15/2013
New York Department of Financial Services Superintendent Benjamin Lawsky discusses what he regards as right and wrong with financial services, the perils of taking on too many regulatory challenges and why so few top executives have faced the long arm of the law….
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8/14/2013
Benjamin Lawsky, who runs the New York Department of Financial Services, has become a top industry cop, taking on money launderers, payday lenders and even Bitcoin. In an interview, he discusses the need to break new ground while playing nice with federal regulators….
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8/12/2013
Senate Majority Leader Harry Reid’s surprise criticism of President Obama’s plan to unwind Fannie Mae and Freddie Mac has upset the conventional wisdom surrounding housing finance reform….
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8/06/2013
President Obama ended his administration’s self-imposed blackout regarding housing finance reform on Tuesday, finally endorsing a specific approach after effectively punting on the issue more than two years ago….
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8/05/2013
Lawmakers have accused Raj Date, the Consumer Financial Protection Bureau’s former No. 2, of lobbying his old employer and profiting from a mortgage rule he wrote. Yet ethics experts, and even some of those who formerly accused him of wrongdoing, now say the charges are bogus….
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8/01/2013
GOP lawmakers are raising concerns that the Consumer Financial Protection Bureau’s former deputy director, Raj Date, and other staffers “left the CFPB in order to profit from rules they helped create.”……
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7/31/2013
A group of 37 House Democratic women are asking President Obama to name Janet Yellen, vice chairman of the Federal Reserve Board, to succeed Ben Bernanke as chairman of the Fed when his term expires….
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7/30/2013
Agencies seek comment on Dodd-Frank Act stress test guidance for medium-sized firms……
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7/30/2013
A relief package proposed by three senators last week has reinforced hope that Capitol Hill will ease community banks’ regulatory burden by yearend….
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7/25/2013
Agencies encourage lenders to work with student loan borrowers……
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7/23/2013
Second quarter marks against securities have ranged to 5% or more of tangible equity, but markets have looked past the losses and bid up bank stocks….
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7/23/2013
The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012….
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7/19/2013
The Senate’s latest proposal to break up the big banks faces an uphill battle, but FDIC Vice Chairman Thomas Hoenig still says it could have a major impact on the movement to separate big banks’ commercial and investment activities….
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7/18/2013
Deposit costs lagged short-term interest rates on the way up and the way down during the last cycle. A relatively large representation of long-term certificates of deposits could help as rates rise….
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7/18/2013
The Senate Banking Committee, voting along party lines, approved the nomination of Rep. Mel Watt, D-N.C., on Thursday to become director of the Federal Housing Finance Agency….
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7/16/2013
Hedge funds have beaten the FDIC in a series of legal disputes over the assets of bankrupt holding companies, exposing a serious flaw in the regulator’s system for recovering value from failed institutions….
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7/15/2013
Planned price increases and hints that households are looking for higher yields for their savings suggest that the flood tide of deposits could finally be ebbing….
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7/10/2013
Agencies issue proposed rule to exempt subset of higher-priced mortgage loans from appraisal requirements……
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7/10/2013
The long-anticipated collapse in mortgage applications, finally a reality, stands to take a bite out of bank earnings in the second quarter and beyond….
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7/09/2013
Agencies adopt supplementary leverage ratio notice of proposed rulemaking……
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7/08/2013
Sen. Elizabeth Warren may have a reputation as the banking industry’s toughest foe, but behind the scenes she’s formed a growing alliance with community banks, a widespread and politically powerful group….
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7/05/2013
Rep. Jeb Hensarling is expected to unveil new mortgage finance reform legislation this month – an effort that has virtually no chance of becoming law this year, but one that will undoubtedly shape the housing debate….
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7/02/2013
Agencies release public sections of resolution plans for four institutions……
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7/01/2013
During the heyday of deregulation, Gerald Corrigan argued that banks’ unique functions required a unique level of supervision and protection. The former Fed official’s essay remains as relevant as ever….
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6/27/2013
Rep. Mel Watt defended his judgment and experience with housing issues during a hearing on his nomination to head the Federal Housing Finance Agency, but it’s unclear if the performance was enough to sway Republican opponents….
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6/26/2013
Various loan types have been yielding fatter margins over banks’ cost of funds through much of the Fed’s campaign to stimulate the economy. Blame banks’ tight overall margins on cash and securities….
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6/25/2013
Federal Reserve Board proposes new data collection requirements related to money market instruments……
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6/19/2013
Federal Reserve Board Chairman Ben Bernanke said Wednesday that regulators are making steady progress on a number of critical rules under the Dodd-Frank Act, predicting that several final rules will be released in the coming months….
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6/19/2013
Regulators have published the latest catalog of places outside metropolitan areas where lending will earn banks credit toward their Community Reinvestment Act obligations….
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6/13/2013
The Consumer Financial Protection Bureau is shedding senior officials faster than it can replace them, raising concerns that the agency will no longer be able to maintain the aggressive pace set during its nearly two years of existence….
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6/13/2013
Some banks have transformed their loan portfolios with a focus on business borrowers, and made strides in profitability at the same time….
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6/12/2013
A bipartisan bill to reform the mortgage finance system being crafted in the Senate has already drawn praise from a variety of stakeholders, but the effort is almost certain to meet strong resistance from House Republicans….
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6/05/2013
Federal Reserve Board approves interim final rule on treatment of uninsured U.S. branches and agencies of foreign banks under section 716 of Dodd-Frank……
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6/05/2013
The fees Fannie and Freddie charge to cover credit risk on mortgages have been surging. Large segments of the market may soon be fair game for securitization without federal backing….
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5/31/2013
Net interest margins are complex beasts. During the last Fed tightening cycle, the yield curve turned negative and margins narrowed….
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5/30/2013
The Treasury Department plans to auction its remaining stakes in 16 banks as it continues to unwind its holdings from the Troubled Asset Relief Program….
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5/29/2013
The banking industry earned a record $40.3 billion in the first quarter as rising noninterest income and the continued drop in loss provisions made up for declines in interest-related income, the FDIC said Wednesday….
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5/24/2013
Banks have been blaming one another for recklessly chasing business loans. Data on portfolio yields and growth offers perspective on which ones are being the most aggressive….
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5/24/2013
A bipartisan group of senators led by Sen. Bob Corker, R-Tenn., is drafting legislation designed to reform the housing finance system, including a plan to wind down the government-sponsored enterprises….
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5/23/2013
Exemption for small debit card issuers from interchange fee standards working as intended……
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5/17/2013
The House passed a controversial bill on Friday requiring the Securities and Exchange Commission to conduct additional economic analysis on its rules….
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5/16/2013
Senate Majority Leader Harry Reid is bringing the battle over the Consumer Financial Protection Bureau back to the forefront next week with a long-awaited confirmation vote on Richard Cordray, the agency’s director….
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5/14/2013
Top Federal Reserve Board officials appear to have reached a consensus on how to deal with the “too big to fail” dilemma: wait for the current reform process to play out, but be ready to significantly increase capital standards if the problem remains unsolved….
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5/13/2013
Federal Reserve Board announces that results of company-run, midyear stress tests are due on July 5……
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5/09/2013
In three years of “say-on-pay” votes since Dodd-Frank, investors have widely acquiesced to double-digit increases in bank executive compensation….
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5/09/2013
Comptroller of the Currency Tom Curry said regulators should take another look at the leverage ratio as part of a Basel III rule, another sign that the agencies are considering raising the standard….
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5/09/2013
Federal Housing Finance Agency Acting Director Edward DeMarco outlined two strategies on Thursday to help draw private capital into the housing market to replace Fannie Mae and Freddie Mac….
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5/09/2013
International regulators and the institutions they supervise are objecting to a proposal by the Federal Reserve Board that would toughen oversight of foreign institutions operating in the U.S….
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5/08/2013
Sen. Elizabeth Warren, D-Mass., introduced a bill Wednesday that would temporarily allow students eligible for federally subsidized Stafford loans to borrow at the same interest rate that the largest institutions receive through the Federal Reserve discount window….
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5/08/2013
Federal Reserve provides additional information on borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley……
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5/06/2013
The Oracle of Omaha may love banks, but his sidekick says the time has come to break them up….
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5/06/2013
New York Attorney General Eric Schneiderman stands alone in announcing a lawsuit against Bank of America and Wells Fargo for violations of the $25 billion mortgage settlement. But that may soon change….
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5/03/2013
Federal Reserve Board Gov. Daniel Tarullo said Friday that he was still concerned about ongoing risks from banks’ potential overreliance on short-term wholesale funding, but suggested one possible remedy: higher capital requirements….
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5/02/2013
A Congressional Budget Office report commissioned by Democrats concludes that principal reductions in modifications of loans backed by Fannie Mae and Freddie Mac would achieve more success if eligibility of the Home Affordable Modification Program were widened….
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5/02/2013
The agencies appear to be at loggerheads over a final Basel III deal, with the Federal Deposit Insurance Corp. pushing for a higher leverage ratio but facing resistance from the Federal Reserve Board and the Office of the Comptroller of the Currency….
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5/01/2013
New York Attorney General Eric Schneiderman just can’t wait for Edward DeMarco’s reign at the Federal Housing Finance Agency to end….
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5/01/2013
The consensus in Washington is that “more needs to be done” to end “too big to fail,” but the bulk of the reforms Congress and the Basel Committee adopted in the wake of the 2008 crisis have yet to be adopted. So no one truly knows if we’ve done “enough” yet….
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4/30/2013
Acting independently of the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. ordered $14 million in fines against two RBS subsidiaries, including restitution to over 300,000 customers….
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4/30/2013
Median chief executive pay raises slowed from the year before but look healthy compared with stagnant revenues and languishing stock prices….
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4/29/2013
Tens of thousands of homeowners who took out mortgages with Goldman Sachs and Morgan Stanley will begin to receive their settlement payments this week for botched foreclosure practices….
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4/29/2013
Payments to Goldman Sachs and Morgan Stanley borrowers covered by foreclosure agreement to begin May 3……
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4/26/2013
The Brown-Vitter bill on “Too Big to Fail” faces significant challenges to passage, yet it is likely to have an impact on big banks and regulation anyway. Here’s why….
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4/25/2013
Federal Reserve Board Gov. Daniel Tarullo is not backing a “too big to fail” bill introduced by Sens. Sherrod Brown and David Vitter this week and doesn’t plan to, either….
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4/25/2013
The Obama Administration asked the Supreme Court on Thursday to reverse a federal appeals court decision that nullified its recess appointments to the National Labor Relations Board….
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4/24/2013
Washington’s “odd couple” – Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La. – released their much anticipated capital standards bill on Wednesday, designed to address growing concern over whether some institutions are “too big to fail.”……
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4/24/2013
Sen. David Vitter, R-La., revealed significant changes Wednesday morning to his legislation with Sen. Sherrod Brown, D-Ohio, to address concerns over “too big to fail.”……
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4/24/2013
Sens. David Vitter and Sherrod Brown are courting a key constituency – small banks – that they hope can help build support for their legislation to tackle “too big to fail.”……
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4/23/2013
Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., speaking at a forum co-hosted by American Banker, hinted at several potential changes from a draft copy of the legislation that was leaked to the media earlier this month….
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4/23/2013
Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is urging Chairman Jeb Hensarling to reverse his decision not to allow Consumer Financial Protection Bureau Director Richard Cordray to testify later this month on the agency’s semi-annual report….
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4/23/2013
Banking analysts, former regulators, lawmakers, banking industry representatives and top academics spent more than an hour and a half debating how best to resolve the issue of “too big to fail” on Tuesday, and came away with no easy solutions….
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4/19/2013
Legislative efforts to strengthen the nation’s cyber defenses are shifting to the U.S. Senate after passage of a controversial bill by the House of Representatives….
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4/19/2013
Federal Reserve Board Gov. Jeremy Stein said Friday that policymakers should consider reducing a bank’s reliance on central bank lending to meet a liquidity requirement under Basel III….
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4/19/2013
Rep. Maxine Waters, D-Calif., the top Democrat on the House Financial Services Committee, introduced legislation Friday to give the Securities and Exchange Commission the authority to impose and collect user fees from investment advisors….
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4/18/2013
Federal Reserve Board Gov. Daniel Tarullo said Thursday that his top concern continues to be access by the largest financial firms to wholesale funding markets that can tip off runs and liquidity freezes….
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4/18/2013
The Federal Housing Finance Agency’s ongoing efforts to revamp the housing finance system will be incomplete unless Congress acts, according to Ed DeMarco, the acting director of the agency….
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4/18/2013
The cost of being big is multiplying, and that’s driving a wedge between the largest banks and the next tier….
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4/17/2013
In a speech before the American Bankers Association, Sen. Jon Tester vowed he would hold Fannie Mae and Freddie Mac accountable and ensure a level playing field to the secondary market for community banks….
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4/17/2013
Federal Reserve provides information on checks sent under Independent Foreclosure Review Payment Agreement……
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4/17/2013
American Banker and Federal Financial Analytics are holding a joint forum with Sens. Vitter and Brown to discuss their bill to rein in the big banks and whether some institutions are “too big to fail.”……
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4/17/2013
Democratic lawmakers raised numerous concerns Wednesday over the mortgage servicer settlement announced in January, including how banks are credited for relief they provide to borrowers….
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4/17/2013
Demand for credit by consumers and businesses continued to show signs of gradual improvement as homeowners looked to refinance their homes and buy new cars, according to a survey released by the Federal Reserve Board on Wednesday….
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4/16/2013
WASHINGTON — The Consumer Financial Protection Bureau has proposed slight tweaks to help clarify mortgage rules first issued in January….
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4/16/2013
Community bankers sounded more warnings about the Dodd-Frank reform law and proposed Basel III requirements on Tuesday, including how new rules will impact the housing market….
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4/16/2013
Sen. Shelby introduced a bill on Tuesday to delay implementation of Basel III while House Financial Services Committee Chairman Jeb Hensarling declared the package of capital and liquidity standards “suspect.”……
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4/15/2013
The Federal Reserve Board on Monday issued a proposal that would impose a fee on the biggest bank holding companies to cover expenses related to its supervisory duties….
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4/15/2013
Federal Reserve Board invites comment on proposal to establish annual assessments……
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4/15/2013
Agencies provide additional instructions for submission of some resolution plans……
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4/12/2013
Federal law gives President Obama the ability to remove the Federal Housing Finance Agency’s acting director and replace him with one of three deputies, Schneiderman’s office concludes in a memo obtained by news outlets….
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4/11/2013
Share buybacks have been dormant at big banks and dividends remain slim, but capital payouts are gaining momentum after this winter’s stress tests….
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4/11/2013
Lawmakers grilled the OCC and Fed on Thursday over the failed independent foreclosure review, including their extensive use of independent consultants to carry out much of the work….
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4/10/2013
WASHINGTON — The Obama administration is estimating that the Federal Housing Administration will likely require almost $1 billion in additional funding from the Treasury Department to shore up its capital reserves later this year….
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4/10/2013
A federal judge here yesterday dismissed the majority of $590M of securities claims brought by NCUA against Credit Suisse Securities in the 2009 collapses of U.S. Central FCU and WesCorp, dealing the credit union regulator another defeat in its efforts to recoup losses for the biggest credit union f…
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4/10/2013
CEO Michael Corbat presided over an executive-studded branch opening in Washington on Wednesday, promoting Citigroup’s commitment to tech-heavy urban locations even as the bank closes branches elsewhere….
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4/10/2013
The top Democrat on the House Financial Services Committee said she would consider “discussing areas that require clarification” in the Dodd-Frank Act….
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4/09/2013
Mortgage servicers tied to the independent foreclosure review settlement will begin sending the first wave of $1.2 billion in checks to troubled borrowers on Friday, federal regulators said….
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4/09/2013
Payments to 4.2 million borrowers covered by foreclosure agreement to begin April 12……
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4/09/2013
Sens. Bob Corker, R-Tenn., Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., David Vitter, R-La., and Susan Collins, R-Maine, is urging regulators to end “too big to fail” and delay Basel III requirements for small institutions….
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4/08/2013
A provision that would raise capital standards at small and large banks could potentially hamper legislative efforts to break up the biggest institutions, industry observers warned after the unauthorized leak of draft legislation….
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4/04/2013
The Consumer Financial Protection Bureau announced four enforcement actions Thursday against mortgage insurers, ordering them to pay $15 million in penalties and stop “improper kickbacks” to mortgage lenders in exchange for business….
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4/04/2013
Federal Reserve Board finalizes standards for Fed-regulated banks engaged in certain types of foreign exchange transactions with retail customers……
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4/04/2013
The Consumer Financial Protection Bureau announced enforcement orders against four mortgage insurance firms that allegedly provided kickbacks to lenders, but the agency signaled additional actions are in the offing….
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4/03/2013
Analysts are skeptical lenders can cut overhead fast enough to keep up with a projected collapse in mortgage volume. Some banks are intent on taking a bigger piece of the pie….
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4/03/2013
Federal Reserve Board approves final rule establishing requirements for determining when a company is “predominantly engaged in financial activities”……
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4/03/2013
The plan, which was first reported by the Washington Post, sounds similar to a framework the Federal Housing Finance Agency unveiled in September to help alleviate mortgage lenders’ concerns about exposure to bad loans….
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4/03/2013
“Too big to fail” is a complex problem born of a series of policy missteps that will take years to unwind. The sooner everyone accepts that reality, the sooner we can tackle the necessary items to make sound public policy….
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4/01/2013
The new numbers add to a growing body of evidence suggesting that the U.S. housing sector is slowly rebounding….
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4/01/2013
Concerns about bank size and interconnectedness have reached a fever pitch lately for a number of reasons. Here’s why….
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3/27/2013
The Office of the Comptroller of the Currency’s Mortgage Metrics report showed further reductions in delinquencies and homes seized by lenders in the fourth quarter….
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3/25/2013
Sen. Tim Johnson, chairman of the Senate Banking Committee, is expected to announce at a press conference tomorrow that he will retire when his term ends next year….
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3/22/2013
Auto dealership advocates are warning that costs will rise for borrowers if the Consumer Financial Protection Bureau presses banks to curtail auto loan markups determined by dealers….
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3/22/2013
Increase in required electronic loan data fields……
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3/22/2013
Big banks reversed a buildup in long-dated bonds over the last two quarters, a reassuring development amid worries that they might “reach for yield.”……
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3/22/2013
The Senate is expected to pass two budget amendments Friday designed to break up the big banks and prohibit the use of certain fee hikes at Fannie Mae and Freddie Mac to reduce government spending….
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3/21/2013
To settle a New York state probe of alleged collusion and price gouging by banks and insurers, the country’s largest force-placed insurance company will lower its rates and cease making payments to banks….
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3/21/2013
A judge in New Jersey limited Spencer Savings Bank’s ability to control the process for director nominations….
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3/21/2013
Agencies issue updated leveraged lending guidance……
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3/20/2013
To calm anger about “too big to fail,” bankers should support repeal of Title II of Dodd-Frank and support the nomination of Richard Cordray to lead the CFPB….
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3/20/2013
Federal Reserve Board Chairman Ben Bernanke on Wednesday said regulators would take additional steps to eliminate the problem of “too big to fail” if current efforts fall short….
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3/20/2013
The House Agriculture Committee passed a bill by unanimous voice vote on Wednesday to address ongoing concerns with the implementation of certain derivatives rules under the Dodd-Frank reform law….
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3/20/2013
Reps. Maxine Waters, Carolyn Maloney and 44 other lawmakers introduced a bill Wednesday to address numerous concerns about overdraft fees….
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3/20/2013
Regulators are scrutinizing national banks’ online and offshore relationships with payday lenders, Comptroller of the Currency Thomas Curry said Wednesday….
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3/20/2013
Members of the House Financial Services Committee raised concerns Wednesday about the current business environment for small banks, pressing regulators about the lack of bank charters in recent years and the effect of new rules on the industry….
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3/19/2013
Banks are going to have to work harder next year if they want to continue to pass the Federal Reserve Board’s annual stress test exercise….
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3/19/2013
Edward DeMarco, acting director of the Federal Housing Finance Agency, all but begged lawmakers on Tuesday to begin the process of reforming the nation’s housing finance system….
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3/19/2013
The Senate Banking Committee continued to debate possible housing finance reform strategies at a hearing on Tuesday, including what kind of leadership is needed at FHFA….
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3/18/2013
Agencies release proposed revisions to Interagency Questions and Answers Regarding Community Reinvestment……
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3/18/2013
Rep. Mel Watt is said to be on the shortlist to serve as director of the Federal Housing Finance Agency, but it remains to be seen if he or any nominee can survive the Senate confirmation process….
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3/18/2013
A levy assessed on bank customers for their savings – as is being proposed in the Cyprus bailout – seems unimaginable in the U.S., yet may stoke bank runs in Europe and elsewhere….
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3/14/2013
The Senate Permanent Subcommittee on Investigations’ probe into the JPMorgan Chase “London Whale” trading debacle provides a harsh critique of bank misbehavior, but also raises critical questions about the regulators trained to police it….
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3/14/2013
In its second round of stress tests in two weeks, the Fed rejected two banks’ capital plans – Ally and BB&T – while it found weaknesses in two others, JPMorgan Chase and Goldman Sachs….
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3/14/2013
Federal Reserve announces results of Comprehensive Capital Analysis and Review (CCAR)……
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3/13/2013
The Permanent Subcommittee on Investigations’ hearing into the “London Whale” mess at JPMorgan Chase will include a number of bank and OCC officials. Notably absent will be JPM CEO Jaime Dimon….
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3/13/2013
A bipartisan group of lawmakers on the House Financial Services Committee and the House Agriculture Committee is drafting a bill to address ongoing concerns with a series of cross-border swaps provisions….
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3/13/2013
Rep. Randy Neugebauer, a senior member on the House Financial Services Committee, discusses his priorities for FHA reform, despite ongoing partisan bickering….
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3/13/2013
The Federal Deposit Insurance Corp. chairman gave an update on the agency’s community bank work and said the agency is on target to reach a statutory minimum for insurance reserves….
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3/12/2013
Sens. Mark Warner, D-Va., and Bob Corker, R-Tenn., are asking Attorney General Eric Holder to clarify his surprising remarks last week about whether some institutions are too big to prosecute….
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3/12/2013
Although lawmakers were ostensibly there to discuss the nominations to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission, the debate over “too big to jail” continued to dominate a Senate Banking Committee hearing on Tuesday….
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3/11/2013
Sens. Sherrod Brown, a liberal from Ohio, and David Vitter, a conservative from Louisiana, are an unlikely pair. But they have forged a working alliance and are committed to raising capital requirements on the biggest banks and reducing their size….
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3/11/2013
Attorney General Eric Holder’s admission that some banks are effectively “too big to jail” continues to reverberate throughout the banking world, spurring a push-back from industry representatives and concern from House Financial Services Chair Jeb Hensarling….
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3/08/2013
William Loving believes that the banking industry will shrink at a much slower rate than what many predict….
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3/08/2013
Firms have continued to plow money into bank deposits, but high liquidity ratios appear to be more a continuation of trends in place since the 1980s than a reaction to the financial crisis….
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3/07/2013
Despite companies’ strong performance in the Federal Reserve capital simulations mandated by the Dodd-Frank Act, stress tests for the largest banks have really only just begun….
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3/07/2013
Lawmakers savaged the Treasury Department and banking regulators on Wednesday over their enforcement of anti-money laundering laws and the lack of criminal prosecutions against big banks for violating those provisions. We break down the essential lessons from the Senate Banking Committee hearing….
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3/07/2013
The biggest financial companies received their first official report cards of Dodd-Frank stress tests on Thursday, with Bank of New York leading the pack while Ally Financial fell far behind….
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3/07/2013
Federal Reserve releases summary results of bank stress tests……
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3/06/2013
Loan demand by businesses and consumers remained mostly level in the fourth quarter across the country, according to a survey released by the Federal Reserve Board on Wednesday….
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3/06/2013
A transcript of Attorney General Eric Holder’s remarks before the Senate Judiciary Committee, in which he discusses the idea that some banks are ‘Too Big to Jail.’……
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3/06/2013
Attorney General Eric Holder’s stunning admission that it was difficult to prosecute large banks because of the potential economic impact adds significant ammunition to those seeking to break up such institutions….
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3/05/2013
Political support for ending “too big to fail” is growing, several prominent observers – including Sen. Sherrod Brown and former FDIC Chairman Sheila Bair – said at an event on Tuesday….
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3/05/2013
Federal Reserve Board publishes report containing summary information on debit card transactions in 2011……
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3/04/2013
Large bank holding companies have positioned themselves aggressively for a rise in interest rates, based on levels of short-term assets and liabilities. Smaller holding companies have not….
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3/01/2013
Federal Reserve Board Chairman Ben Bernanke said Friday the central bank is continuing to take precautionary steps to ensure that prolonged low long-term interest rates will have minimal impact on financial stability….
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3/01/2013
The qualified mortgage rule issued by the Consumer Financial Protection Bureau could be disruptive to the FHA single-family program, so the Department of Housing and Urban Development is starting the process of issuing its own QM rule….
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2/28/2013
The Senate Banking Committee held another hearing on FHA’s capital shortfall Thursday, debating whether to focus on stabilizing the agency’s finances or pushing for more substantive changes….
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2/28/2013
The 11 state attorneys general who have joined a lawsuit against the Dodd-Frank Act are arguing for their case to be heard despite a request by the government to dismiss the suit….
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2/28/2013
Treasury Secretary Jacob Lew presided over his first Financial Stability Oversight Council meeting on Thursday only hours after being sworn into his position by President Obama….
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2/27/2013
Large banks have been relatively inactive in the market for targets with less than $2 billion of assets, once a staple….
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2/27/2013
The Senate confirmed White House Chief of Staff Jack Lew to be the next Tresaury Secretary by a vote of 71-26 on Wednesday night….
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2/27/2013
Sen. Elizabeth Warren defended the CFPB during a speech on Wednesday, imploring credit unions to lend their support for the agency’s director Richard Cordray ahead of a contentious confirmation battle….
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2/27/2013
Federal Reserve Board Chairman Ben Bernanke accepted responsibility on behalf of regulators Wednesday for a troubled independent foreclosure review process that has delayed payments to borrowers for nearly two years….
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2/26/2013
Banks and thrifts earned $34.7 billion in the fourth quarter to close out 2012 with the second biggest full-year profit ever, the Federal Deposit Insurance Corp. said Tuesday….
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2/26/2013
American Banker has won three Society of American Business Editors and Writers 2012 Best in Business awards, in the categories of Commentary, Investigative and Explanatory journalism….
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2/26/2013
Comptroller of the Currency Thomas Curry attempted to dispute the notion that large banks are “too big to jail,” telling a group of state attorneys general that his agency can take legal action and level “severe penalties” against an institution….
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2/26/2013
The Federal Deposit Insurance Corp.’s Quarterly Banking Profile described an industry gaining health, but it still faces several key challenges to maintaining growth….
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2/26/2013
Federal Reserve Board announces proposed rule regarding Federal Reserve Bank accounts and services for financial market utilities designated as systemically important……
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2/22/2013
JPMorgan Chase is raising another round of questions about a lawyer who works for the New York attorney general, which has sued the company over the mortgage conduct of Bear Stearns….
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2/22/2013
Federal Reserve Board extends comment period on proposed rule to implement enhanced prudential standards and early remediation requirements until April 30, 2013……
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2/21/2013
The Consumer Financial Protection Bureau said Thursday it was requesting public comment on the best ways for Congress or regulators to help struggling student loan borrowers….
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2/20/2013
Recovering home prices have helped shrink underwater home equity loans, but such uncollateralized assets are still large when measured against Tier 1 common equity at the Big Four….
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2/19/2013
Rep. Maxine Waters has asked regulators for additional information regarding the work some consultants did as part of the troubled independent foreclosure review process….
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2/19/2013
Attendees at this year’s American Bankers Association conference for community banks want to exude confidence but worries over proposed capital requirements still have them spooked….
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2/15/2013
Bankers want to get a better understanding of how to run their businesses at a time of regulatory uncertainty….
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2/15/2013
In her first extensive interview since becoming the lead Democrat on the House banking panel, Rep. Maxine Waters says she has learned a lot from watching former Rep. Barney Frank’s leadership and will strive to emulate his example….
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2/14/2013
The new proposal by the Financial Accounting Standards Board would reduce the number of categories used to classify loans and securities….
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2/14/2013
Senate Banking Committee members took turns Thursday questioning several top financial regulators on the implementation of Dodd-Frank, but freshman Sen. Elizabeth Warren turned up the heat on the lack of bank prosecutions….
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2/13/2013
The banking industry and outside observers weighed in Wednesday on a White House order that aims to bolster protection of the nation’s critical infrastructure against cyberattack….
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2/13/2013
Republican lawmakers sharply questioned Treasury Secretary nominee Jack Lew on Wednesday, asking him to detail his role at Citigroup in the lead-up to the financial crisis and his views on a range of banking issues….
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2/13/2013
At a press conference protesting Republicans’ refusal to confirm a director of the CFPB, Elizabeth Warren and other Democrats said they have no intention of making structural changes to the agency in order to meet GOP demands….
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2/12/2013
Republicans continue to call for the CFPB to adopt a five-person board instead of having a single director, but similar calls are almost never heard regarding the OCC….
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2/12/2013
The White House is expected to unveil an executive order on Wednesday that aims to bolster safeguards against cyberattacks for industries deemed vital to the nation’s well-being….
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2/12/2013
The Federal Deposit Insurance Corp. on Tuesday proposed clarifying the insurance status of foreign deposits in a bid to quell international pressure about how overseas customers are treated in a bank failure….
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2/12/2013
All 12 Federal Reserve Bank presidents on Tuesday endorsed efforts by regulators to reform the $2.9 trillion money market mutual fund industry….
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2/11/2013
The Consumer Financial Protection Bureau will require some mortgage servicers to develop general plans for avoiding complications arising from the transfer of servicing rights….
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2/11/2013
On her watch the agency supported $106 billion of loans to small businesses, including a record $30.5 billion in fiscal year 2011….
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2/11/2013
Individuals who blew the whistle on a mortgage fraud scheme that cost JPMorgan Chase $296 million in fines have three months to prove that their information helped lead to the settlement….
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2/11/2013
Federal Reserve Board Vice Chair Janet Yellen said Monday that policymakers continue to face a significant number of headwinds that have stalled often “forceful” efforts by the central bank to jump start an economic recovery….
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2/08/2013
House Republicans are expected to once again push for repeal of the FDIC’s orderly liquidation authority outlined in the Dodd-Frank law as they fight over President Obama’s budget….
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2/07/2013
Federal Reserve Board Governor Jeremy Stein on Thursday urged policymakers to consider using some of the central bank’s monetary policy to help address gaps in regulation and foster greater financial stability….
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2/07/2013
Democratic Sens. Robert Menendez of New Jersey and Barbara Boxer of California have reintroduced a bill that Democrats argue would help millions of borrowers refinance their mortgages….
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2/07/2013
The FDIC is expected to shortly unveil a clarification concerning deposits at overseas branches in an effort to resolve an ongoing issue between the U.S. and the U.K….
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2/06/2013
Jeremiah Norton, a board member of the Federal Deposit Insurance Corp., said Wednesday that regulators should consider proposing a stronger leverage ratio for banks to help protect the financial system….
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2/05/2013
The Consumer Financial Protection Bureau is poised for a comprehensive look at the relationships between universities and banks, one that some say is likely to result in new disclosures for debit cards and restrictions on other practices….
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2/05/2013
The Federal Deposit Insurance Corp.’s board of directors will consider a proposal next week to clarify the definition of deposits protected by the agency….
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2/05/2013
Rep. Maxine Waters, the top Democrat on the House banking panel, is asking Rep. Jeb Hensarling, the committee’s chairman, to hold a hearing with regulators on the $8.5 billion mortgage servicer settlement announced last month that ended the troubled independent foreclosure review….
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2/04/2013
Sections of Dodd-Frank and the JOBS Act have made allowances for certain community banks but, whether by design or oversight, have left small thrifts to fend for themselves….
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2/04/2013
Net interest margins continued to come under pressure in the fourth quarter. Net interest income, aided by loan growth, held up better….
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2/04/2013
The ABA is raising concerns about a credit union’s potential plans to change its field of membership from just Lutherans to serve all Christian denominations….
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2/04/2013
Treasury Secretary Tim Geithner was clearly dedicated to making the Financial Stability Oversight Council work, despite doubts the group of financial regulators would prove unwieldy and ineffective. The question remains, however, whether his nominated successor, Jack Lew, will be as committed to the…
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2/01/2013
Royal Bank of Scotland is expected to pay roughly $790 million to settle charges by regulators it manipulated a benchmark used to determine the rate at which banks loan to one another….
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2/01/2013
The Justice Department has added a former executive at Countrywide to a lawsuit that accuses Bank of America (BAC) of causing billions of dollars of losses to Fannie Mae and Freddie Mac….
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1/31/2013
Sens. Johanns, Alexander and Cornyn are backing a bill that would stop CFPB funding for carrying out any actions that require a confirmed bureau director, in the wake of a controversial court ruling….
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1/31/2013
The Consumer Financial Protection Bureau has named Steve Antonakes as acting deputy director following the departure of Raj Date from that position on Thursday….
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1/31/2013
The Consumer Financial Protection Bureau said Thursday it has launched an inquiry into a wide range of banking products offered at college campuses….
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1/31/2013
Democratic lawmakers, including Sen. Elizabeth Warren and Rep. Maxine Waters, are asking regulators for more detail on a recent settlement with mortgage servicers that halted an independent foreclosure review started last spring….
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1/30/2013
Two experts, Tom Hoenig and John Dugan, have very different takes on how policymakers should end too big to fail. But figuring out which one is right is daunting….
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1/30/2013
Many of the changes, which were outlined late last year in the FHA’s annual report to Congress, will raise the cost of home loans for consumers….
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1/30/2013
The Office of the Comptroller of the Currency unexpectedly announced Wednesday that Michael Brosnan, its point man for large banks, was leaving his post to become examiner-in-charge of Zions Bank. The move was unusual and effectively a demotion….
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1/29/2013
Christy Romero, the inspector general monitoring Tarp, says the same financial institutions deemed too big to fail have only gotten bigger….
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1/29/2013
Raj Date, the Consumer Financial Protection Bureau’s No. 2 who has helped build the bureau from the ground up, rejected the claim that the ‘qualified mortgage’ rule will push lenders out of the business and said the mortgage industry managed “to do almost everything wrong” prior to crisis….
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1/29/2013
Mortgage earnings climbed to 14% of total revenues at Wells Fargo in the fourth quarter. Banks say they can scale down operations quickly when volume fizzles….
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1/28/2013
Federal Reserve Board announces release dates for results from supervisory stress tests and from the Comprehensive Capital Analysis and Review (CCAR)……
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1/25/2013
A three-judge panel of the U.S. Court of Appeals ruled that President Obama did not have the authority a year ago when he filled three recess appointments to the NLRB – the same day he appointed Richard Cordray to head the Consumer Financial Protection Bureau….
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1/24/2013
President Obama’s renomination of Richard Cordray, who has been running the bureau under a controversial recess appointment, is garnering the same GOP concerns expressed when his name was first floated….
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1/23/2013
Some of the nation’s biggest lenders said that savings from firing consultants doing foreclosure reviews would largely cancel out the cost of direct compensation to borrowers….
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1/23/2013
Following bankers’ positive reaction to the bureau’s QM regulation, industry observers are optimistic about the prospects for added flexibility in the QRM rules that will follow….
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1/22/2013
Deferred prosecution agreements involving HSBC’s money laundering scandal and similar cases have practical advantages. But they also raise concerns that big banks are getting off easier than small ones….
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1/22/2013
The industry trade association released the results from its simulation of an “orderly” Dodd-Frank wind-down, as well as a paper endorsing the FDIC’s resolution approach….
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1/18/2013
OCC and Federal Reserve reach agreement with HSBC to provide $249 million in payments and assistance……
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1/18/2013
Lawmakers’ intent to keep a watchful eye on Dodd-Frank implementation apparently extends to provisions having nothing to do with banking….
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1/18/2013
Agencies issue final rule on appraisals for higher-priced mortgage loans……
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1/17/2013
The Bureau’s rules add incrementally to a previous mandate in the mortgage servicing settlement, but leave other regulators to sort out the controversy over the insurance for troubled homeowners….
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1/17/2013
The Ohio Senator wrote a letter to regulators Thursday, arguing that “breaking the law should not be a business expense.”……
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1/16/2013
The FDIC’s point man on resolution planning says early submitters took the effort “seriously,” but says process is still in early stages….
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1/16/2013
Lending by bankers to business and consumers remained steady over the most recent quarter, while some districts reported stronger demand for loans than others….
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1/16/2013
In an interview, Morris Morgan, the federal government’s point man for the painstaking review of 3.8 million mortgage loans, provided new details about the $8.5 billion deal regulators cut with 10 servicers last week and how it almost fell apart during negotiations….
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1/16/2013
Just a week after overhauling how mortgages are underwritten, the Consumer Financial Protection Bureau was set Thursday to unleash an additional series of rules dictating extensive new requirements for mortgage servicing….
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1/16/2013
Federal Reserve Board reaches agreements in principle with Goldman Sachs and Morgan Stanley to provide $557 million in payments and other mortgage assistance to borrowers……
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1/16/2013
State and federal authorities are taking a hard look at how banks collect consumer debts. A multi-billion dollar market may be remade through tighter rules or enforcement actions….
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1/16/2013
Dallas Fed President Richard Fisher took his fight against Too Big to Fail one step further Wednesday night, laying out his plans for dismantling the industry’s giants….
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1/15/2013
Dodd-Frank required mortgages with higher rates to face greater appraisal demands, but regulators have expanded the loans granted exemptions in a new final rule….
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1/15/2013
A proposal to tighten regulation of foreign banks in the U.S. would also significantly expand the central bank’s oversight of foreign broker-dealers, effectively snatching supervisory responsibility from the SEC….
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1/14/2013
The former chief counsel of the Senate Banking Committee, who previously worked at the OCC, will succeed Julie Williams as the agency’s chief counsel….
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1/14/2013
The Obama administration has ruled out minting money as a way to sidestep the nation’s borrowing limit. The Treasury Department will not produce a trillion-dollar platinum coin to pay the federal government’s bills, the Washington Post reported Saturday….
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1/14/2013
The Fed and OCC orders against JPMorgan required them to fix their internal controls related to its trading activities, but stopped short of requiring sweeping changes or mandating a monetary penalty….
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1/11/2013
In speech to California bankers, comptroller indicates ‘Volcker’ trading ban and securitization rules could be completed soon….
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1/11/2013
Subprime mortgages are likely to become harder to make and more expensive to sell in the secondary market based on the new qualified mortgage rule….
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1/10/2013
Five Senate Democrats are urging bank regulators to end payday-like lending….
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1/10/2013
The White House officially nominated Jacob Lew as Treasury secretary, after widespread speculation that Lew would get the nod….
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1/10/2013
While consumer groups were unhappy, lenders were pleased that the definition of qualified mortgages was so broad and that banks were given a safe harbor for prime loans….
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1/10/2013
Unlimited government insurance of noninterest-bearing deposits ended with 2012. Any shifting of cash from banks to money market funds has been modest so far….
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1/09/2013
The Fed’s foreign bank regulation proposal may make sense, but it appears to signal that global standards are giving way to an every-country-for-itself approach….
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1/09/2013
The CFPB released its long-awaited final rule laying out how lenders must ensure borrowers have the ability to repay a loan, including creating a carve-out for qualified mortgages….
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1/09/2013
Julie Williams, the former chief counsel at the Office of the Comptroller of the Currency, will be reunited with former Comptroller Eugene Ludwig….
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1/09/2013
White House Chief of Staff Jacob Lew, who is widely expected to be nominated as Treasury Secretary, is something of an unknown quantity to the financial industry….
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1/08/2013
While regulators have given U.S. banks extra time to comply with a contentious ‘push-out’ rule, many foreign banks are unintentionally ineligible for the relief, leaving questions about whether Congress or regulators will act to help them….
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1/07/2013
Business borrowing from commercial banks appears to have jumped at an annual rate of 11% in the fourth quarter, reversing two quarters of fading momentum….
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1/07/2013
Independent foreclosure review to provide $3.3 billion in payments, $5.2 billion in mortgage assistance……
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1/07/2013
The Basel Committee on Banking Supervision backed away from a strict international liquidity standard, giving more recognition to domestic funding structures….
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1/07/2013
A “simplified” foreclosure review settlement is in borrowers’ best interests, even though details remain sketchy, officials from the Office of the Comptroller of the Currency argued Monday….
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1/04/2013
The President’s nominee for the No. 3 job at the Justice Department would face tough questions from congressional Republicans over an issue critical to banks….
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1/03/2013
The Office of the Comptroller of the Currency said Thursday it would allow more time for banks to comply with new restrictions on swaps activities….
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1/03/2013
Large numbers of yield-hungry banks have gorged on municipal bonds, and the industry’s overall holdings of the paper have edged up….
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1/03/2013
Overaggressive growth, reliance on commercial real estate lending and use of brokered deposits were strategies common to banks that failed in the crisis, a government report said Thursday….
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1/02/2013
The banking industry is expected to benefit marginally from the deal to avert the fiscal cliff, but looming fights over tax reform and the debt ceiling remain….
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12/28/2012
Mid Penn Bancorp in Millersburg, Pa., has repaid the $10 million it owes the Troubled Asset Relief Program….
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12/26/2012
The Consumer Financial Protection Bureau is finishing a redesign of its headquarters featuring an open floor plan – a sharp departure from the labyrinthine layout of the previous tenant, the OTS….
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12/24/2012
Federal officials relayed information about the Occupy movement to the financial community as part of surveillance by authorities of a series of protests against banks that took place in 2011….
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12/22/2012
The Senate has passed a bill that would direct the Government Accountability Office to examine the economic benefits large banks receive for being “too big to fail.”……
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12/21/2012
The Consumer Financial Protection Bureau and several state attorneys general won their first joint-case Friday against a debt-settlement company in Florida….
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12/21/2012
Bankers are raising concerns that a new Financial Accounting Standards Board proposal that would allow banks to set aside reserves for future losses is too open-ended and might result in banks putting too much aside….
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12/20/2012
The House is expected to vote as early as late Thursday on a package of spending cuts that would include eliminating the FDIC’s ability to wind down big banks and a popular mortgage modification program….
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12/20/2012
Rep. Maxine Waters, who will take over as top Democrat on the House Financial Services Committee next year, is urging the Commodity Futures Trading Commission to delay implementation of certain derivatives rules set to go into effect Jan. 1….
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12/20/2012
Banks reported both higher trading revenues and reduced credit and risk exposure, a rare occurrence, according to a report issued Thursday by the Office of the Comptroller of the Currency….
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12/20/2012
President Obama signed two bills on Thursday that will protect information banks provide to the Consumer Financial Protection Bureau and eliminate a requirement on ATM fee notices….
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12/19/2012
Lawmakers pressed a Consumer Financial Protection Bureau official Wednesday on problems with the credit reporting system raised in a major study released by the agency last week….
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12/19/2012
The Clearing House spent 10 months and $2 million to plan a simulation of a large bank failure – and the results are not only fascinating, they’re exemplary….
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12/19/2012
Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., are planning to push for legislation authorizing a Government Accountability Office study that would estimate the value of the economic benefits large banks receive for being “too big to fail.”……
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12/18/2012
A yearlong FDIC research project charts the impact of consolidation and other pressures on small banks, but suggests continued viability for the sector….
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12/18/2012
Bankers are applauding the opening salvo of a Federal Deposit Insurance Corp. project to focus on community bank troubles, but are already looking ahead to the next phases….
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12/17/2012
WikiLeaks supporters have found another way to send money to the controversial organization, circumventing the payments blockade erected by Visa, MasterCard and PayPal….
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12/17/2012
Federal Reserve Board issues supervision and regulation letter summarizing changes made to its program for consolidated supervision of large financial institutions……
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12/17/2012
In its first-year progress report on community banks, the FDIC details how it is responding to specific complaints outlined by institutions at roundtables earlier this year….
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12/17/2012
Federal Reserve Board Gov. Jeremy Stein on Monday underscored the need to reform the way the U.S. central bank regulates foreign banking firms that rely heavily on short-term funding….
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12/17/2012
Senate Banking Committee Chairman Tim Johnson is pushing for a vote as early as this week on a bill that would allow the Federal Housing Administration to raise its mortgage insurance premiums to help the agency bolster is waning capital reserves….
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12/14/2012
Deposits in accounts temporarily protected by unlimited insurance represented more than 10% of assets at more than 900 banks at Sept. 30……
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12/14/2012
Federal Reserve Board releases proposed rules to strengthen the oversight of U.S. operations of foreign banks……
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12/13/2012
Efforts to extend the Transaction Account Guarantee program were dealt a significant blow Thursday as senators blocked a vote on a two-year extension over objections it would cost the government money….
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12/13/2012
The OCC recently graded the 19 largest banks on five factors designed to gauge how well they are being run. The results are shocking….
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12/13/2012
House Republicans continued their attacks on the Volcker Rule on Thursday, arguing it was unnecessary and overly complex just a day after Federal Reserve Board Chairman Ben Bernanke signaled regulators were close to finalizing it….
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12/13/2012
A battle over Senate procedures and the FDIC’s absence from the debate were viewed as contributing to blocking a bill to extend the TAG program….
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12/12/2012
The prospects for a bill that would extend a program that provides a federal guarantee for certain business deposits are rapidly fading as Republicans prepare to offer a point of order designed to kill the measure….
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12/12/2012
Federal Reserve Board Chairman Ben Bernanke said Wednesday that regulators are nearing completion of a contentious rule that will ban proprietary trading at U.S. firms….
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12/11/2012
The FDIC signed off on an 18% cut in funding for 2013, but it is still dealing with elevated numbers of troubled banks and Dodd-Frank-related workload….
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12/11/2012
The Senate passed two bills by unanimous consent Tuesday night involving fee disclosure requirements for ATMs and information sharing with the CFPB, paving the way for the bills to be signed into law….
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12/10/2012
The House is scheduled to vote this week on a bill that would exempt banks from sending an annual privacy notice to customers unless the disclosures have changed from a year earlier….
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12/10/2012
The jump in Bank of America’s Basel III capital ratio in the third quarter reflected favorable moves in rates and credit spreads, not retained earnings….
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12/10/2012
FDIC and Bank of England released a white paper showing agreement about resolution approaches as a top BOE official signaled flexibility in how the U.S. resolves firms with U.K. operations….
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12/07/2012
Comptroller Tom Curry said the agency has worked to address several concerns from staff after a recent survey – the first being stepping up internal communications by senior management….
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12/06/2012
Sen. Jim DeMint, R-S.C., announced Thursday he would leave the Senate to head up The Heritage Foundation, a conservative think tank….
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12/06/2012
The Senate is preparing to vote soon on a bill to keep TAG alive even as various interests, including large institutions and money-market mutual funds, fight to shut the program down….
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12/05/2012
Cyrus Amir-Mokri, the assistant secretary for financial institutions, said the industry’s technological advances should be accompanied by an awareness of the risk of systems breakdowns….
read more »
12/05/2012
Paul Tucker, deputy governor of the Bank of England, will address the FDIC’s special advisory committee on resolutions to discuss coordination efforts between the U.S. and U.K….
read more »
12/05/2012
Here’s what you need to know about Tim Pawlenty, the new leader of the Financial Services Roundtable: he’s nice, normal, self-deprecating and ready to emerge as an influential voice on industry issues….
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12/04/2012
Federal Reserve Board Gov. Daniel Tarullo voiced concern Tuesday about a potential move to reestablish Glass-Steagall, a Depression-era law that separated investment and commercial banking….
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12/04/2012
Just when you thought it couldn’t get any nastier between banks and credit unions, the credit unions are opposing a TAG extension that many small banks have been pushing for….
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12/04/2012
Senator-elect Elizabeth Warren has secured a spot on the Senate Banking Committee and she’ll be joined by Sen. Joe Manchin, according to a Democratic Senate aide….
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12/04/2012
A sharp rise in noninterest income – including gains on asset sales – helped banks and thrifts record their best quarterly earnings total in six years, the Federal Deposit Insurance Corp said Tuesday….
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12/04/2012
The House Democratic Caucus formally elected Rep. Maxine Waters Tuesday as ranking member for the House Financial Services Committee….
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12/04/2012
The FDIC’s third-quarter report on the health of the industry shows lending climbed upward, but reduced loss provisions and sales of existing assets are what boosted earnings….
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12/04/2012
The Senate passed an amendment Monday that would tighten a law barring lenders from charging members of the military more than 36% interest on their loans….
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12/03/2012
House Republicans are preparing to add several members to the Financial Services Committee next year, as well as kicking two current members off the panel….
read more »
12/03/2012
Curry praised banks’ tighter mortgage underwriting standards but cautioned that they are squeezing out potential borrowers, particularly low-income families and minorities……
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11/30/2012
Policymakers appear unwilling to take on the future of Fannie Mae and Freddie Mac as they face other issues and the housing market begins to recover….
read more »
11/30/2012
The FDIC official proposes corresponding a bank’s required capital minimum to its Camels rating and subjecting big banks to more detailed exams….
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11/30/2012
Rep. Jeb Hensarling is criticizing a provision in a House-approved immigration bill that would extend higher guarantee fees at the government-sponsored enterprises….
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11/29/2012
Two top Republican lawmakers are urging regulators to delay compliance with the controversial rule banning proprietary trading for two years after the rule is finalized….
read more »
11/29/2012
FinCEN, Federal Reserve seek comments on Bank Secrecy Act definitions……
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11/29/2012
Regulators assured that they would weigh potential conflicts from a slew of proposed mortgage regulations due out shortly as they finalize Basel III capital and liquidity rules….
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11/28/2012
Many bankers in the New York area saw few effects from the October hurricane, while the Philadelphia area saw widespread bank and ATM closures, according to the Beige Book released Wednesday by the Federal Reserve Board….
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11/28/2012
As policymakers mull the future of U.S. mortgage policy, Federal Housing Finance Agency chief Ed DeMarco sees a potential starting point in an entity he does not regulate: the Federal Housing Administration….
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11/27/2012
Banking associations are mounting another push to keep the Senate from voting on a bill to raise the cap on credit union business lending….
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11/27/2012
WikiLeaks’ founder accused two members of Congress of pressuring MasterCard and Visa to block payments to his group after it published thousands of confidential messages about U.S. diplomacy and the wars in Iraq and Afghanistan….
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11/27/2012
Senate Majority Leader Harry Reid has sponsored a stand-alone bill to give the Transaction Account Guarantee program another two years, but its passage is not a slam dunk….
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11/27/2012
These banks have outperformed industry averages for years and continued to do so in 2012, avoiding the exceptional losses that often follow exceptional returns….
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11/26/2012
Securities and Exchange Commission Chairman Mary Schapiro said Monday that she is stepping down as the agency’s head….
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11/21/2012
Willing sellers have pretty much replaced failed banks among targets with less than $1 billion of assets. Volume has perked up in other size classes simultaneously….
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11/20/2012
Federal Reserve Board Chairman Ben Bernanke on Tuesday warned policymakers not to delay taking steps to avert a fiscal shock that would cause the economy to fall back into recession….
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11/20/2012
Agencies announce increases in dollar thresholds in regulations Z and M for exempt consumer credit and lease transactions……
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11/20/2012
Housing industry officials applauded the CFPB’s bid to streamline mortgage disclosures, but they are now expressing concern about the more inclusive APR requirements and limits on changes in costs that can vary over time….
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11/19/2012
The Consumer Financial Protection Bureau issued a stark warning to mortgage lenders and brokers on Monday, arguing they must stop running “potentially misleading advertisements,” including those targeting veterans and older Americans….
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11/19/2012
As it dissolves in the wake of anti-money laundering violations, First Bank of Delaware Owes $15 million to Uncle Sam….
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11/16/2012
While it’s unlikely Congress will enact a bill solely devoted to extending full FDIC coverage for transaction accounts, the “lame-duck” session does allow several opportunities for renewing the deposit insurance program….
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11/16/2012
The Consumer Financial Protection Bureau says it will delay the effective date of new disclosures about escrow accounts and other items as the agency crafts a broader overhaul of mortgage forms….
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11/15/2012
Tom Hoenig, a FDIC board member, reiterated his doubts that too big to fail has been eliminated, and offered his prescriptions for strengthening the system….
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11/15/2012
With construction activity, sales, and home prices still well below pre-crisis levels, a revival of U.S. housing sector “still faces significant challenges and the benefits remain quite uneven,” the Fed Chairman said….
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11/15/2012
The Senate late Thursday confirmed the top two senior officials to lead the Federal Deposit Insurance Corp. following months of uncertainty….
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11/15/2012
The Federal Reserve Board on Thursday gave the 19 largest financial institutions the economic variables that will be used to assess a firm’s capital strength and resiliency to withstand an economic crisis….
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11/15/2012
Federal Reserve Board releases economic and financial market scenarios that will be used in next round of stress tests for large financial institutions……
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11/14/2012
The New York Democrat, a senior member of the Senate Banking Committee, has secured his role as vice chair of the Democratic conference and chair of the Senate Democratic Policy and Communications Center for another term….
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11/14/2012
The Clearing House Association launched an ambitious war-game scenario last week to determine whether the FDIC could successfully resolve the failure of a large banking company….
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11/14/2012
With President Obama re-elected and Senate Democrats in the legislative driver’s seat, the 2010 reform law is here to stay….
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11/14/2012
Agencies issue additional statement on supervisory practices regarding financial institutions and borrowers affected by Hurricane Sandy……
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11/13/2012
A unit of BNY Mellon will pay $210 million to settle charges that it let clients invest funds with disgraced money manager Bernard Madoff despite its own concerns that Madoff was running a Ponzi scheme….
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11/13/2012
Advertising reminds eligible borrowers of deadline to request Independent Foreclosure Review……
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11/13/2012
The Financial Stability Oversight Council voted unanimously Tuesday to suggest ways to reform the money market mutual fund industry in an effort to break through a logjam at the SEC….
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11/13/2012
Raj Date, the deputy director at CFPB, is seen as a moderating influence at the agency, given his past experience as a banker. His pending departure leaves bankers nervous about the future….
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11/12/2012
There’s going to be significant overturn on the House Financial Services Committee next year, thanks to a number of retirements and several lost races….
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11/12/2012
Some banks bucked the trend and others buckled under it. Overall, about two-thirds of publicly listed banks posted quarter-over-quarter declines in margins during the most recent round of earnings reports….
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11/09/2012
The Federal Reserve Board on Friday issued detailed instructions to financial institutions ahead of the upcoming stress testing exercise that begins next week….
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11/09/2012
Fed Gov. Elizabeth Duke said heightened burden from Dodd-Frank and Basel rules could make mortgage lending a less viable option for community banks, which make up a “significant” portion of the market….
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11/09/2012
Federal Reserve Board launches 2013 capital planning and stress testing program……
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11/09/2012
U.S. financial institutions will not be required to start complying with Basel III capital and liquidity requirements by Jan. 1, according to a joint statement issued by regulators on Friday….
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11/09/2012
Agencies provide guidance on regulatory capital rulemakings……
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11/08/2012
The Illinois Republican lost her seat to former Rep. Bill Foster on Tuesday night, opening up a chairman spot on the insurance, housing and community opportunity subcommittee….
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11/07/2012
Senators anxious that a package of capital and liquidity rules could wreak havoc on community banks are set to meet next week to examine the plan by regulators….
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11/07/2012
The elections on Nov. 6 mostly delivered the status quo, but raised a host of questions about how lawmakers will tackle the fiscal cliff, big bank breakups and housing finance reform….
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11/06/2012
While the final report is expected to be released next month, FDIC leaders will brief a community bank advisory committee on the agency’s progress in studying the sector and plans to refine the regulatory process for smaller institutions….
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11/06/2012
Regulators are expected to miss a global deadline to finalize Basel III capital and liquidity requirements by yearend….
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11/06/2012
Despite President Obama’s victory Tuesday, the Democrats’ financial policy agenda over the next two years will be far more about defending their past achievements than scoring new ones….
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11/06/2012
Elizabeth Warren, the CFPB architect and frequent bank critic, was elected late Tuesday to the Senate, much to the dismay of the financial services industry….
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11/05/2012
The outspoken Texas lawmaker is widely expected to take the top slot on the banking panel, pursuing an agenda to revamp Dodd-Frank and privatize Fannie Mae and Freddie Mac….
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11/05/2012
The CFPB, FDIC and FHFA face a number of potential scenarios affecting their leadership structure depending on who wins Tuesday night….
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11/01/2012
A group of some of the nation’s largest merchants and retail trade groups asked a federal judge Thursday to reject the proposed settlement of a lawsuit over credit card swipe fees….
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11/01/2012
Of the eight U.S. banks that must face a capital surcharge under Basel III, only Citigroup and JPMorgan Chase have to pay the highest current level of 2.5%. Bank of America and Bank of New York Mellon will be assessed a 1.5% surcharge, while Wells Fargo will pay 1%….
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10/31/2012
Parkmobile USA, a company that accepts mobile payments for parking charges, is facing a backlash after blaming its fee increase on a recent cap to debit card interchange rates….
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10/31/2012
The loan officer survey said standards for FHA loans had not changed much for those with high FICO scores since before the crisis….
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10/30/2012
Eight of the more than two dozen countries involved have adopted a package of capital and liquidity rules known as Basel III, according to the latest progress report by the Basel Committee on Banking Supervision….
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10/30/2012
As it implements Dodd-Frank regime for resolving systemically important firms, the agency must ensure creditors receive at least as much as they would in a Chapter 7 proceeding….
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10/30/2012
Agencies issue statement on supervisory practices regarding financial institutions and borrowers affected by Hurricane Sandy……
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10/30/2012
They say including such data would allow independent monitor Joseph Smith to test if servicers are providing adequate relief in low-income communities, but Smith’s hands may be tied by the language of the settlement agreement….
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10/29/2012
Agencies based in Washington were mostly closed in anticipation of the storm, but officials said where possible support for banks and examiners would be made available….
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10/26/2012
Banks are calling on federal agencies to revamp and delay implementation of a package of proposals that will transform financial regulation….
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10/26/2012
Federal Reserve Board announces delay in the implementation of the second phase of its program to simplify the administration of reserve requirements……
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10/25/2012
About $1.4 trillion of deposits are covered by federal insurance due to lapse in two months. How corporations have handled their cash over the last few years provides a guide to what might happen to the money….
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10/25/2012
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2013……
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10/23/2012
The agency will publish a final rule Wednesday to supervise firms with more than $10 million in annual receipts….
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10/22/2012
Merchants’ bid to opt out of the $7.5 billion credit card fee settlement has gained a lot of attention lately. But if the Justice Department were to object to the terms, the judge would likely listen, observers say….
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10/22/2012
The chief executive officer of JPMorgan Chase, Jamie Dimon, hosted a lunch with 75 New York business leaders in a bid to help to steer Washington away from the fiscal cliff and toward a budget compromise akin to Simpson-Bowles….
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10/22/2012
Rep. Barney Frank is calling on state and federal officials to reconsider prosecuting banks for the sins of smaller institutions they were pressured to acquire at the height of the financial crisis….
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10/18/2012
Republicans will most likely keep control of the House next term, but several GOP freshmen on the House Financial Services Committee are facing tough reelection contests….
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10/17/2012
House Financial Services Committee Chairman Spencer Bachus released a new report Wednesday attacking the Dodd-Frank reform law’s “too big to fail” provisions, two days after Rep. Barney Frank defended them….
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10/17/2012
The Bipartisan Policy Center on Thursday will launch its Financial Regulatory Reform Initiative, which will assess the law’s effectiveness and recommend improvements in a report expected next fall….
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10/17/2012
Control of the Senate remains up for grabs, and there are several tight races that could be key for the banking industry….
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10/16/2012
The Massachusetts Democrat released an analysis late Monday defending the Dodd-Frank reform law, arguing it sufficiently addressed “too big to fail” institutions and taking issue with criticism Mitt Romney made during the first presidential debate….
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10/16/2012
Former FDIC Chairman Sheila Bair called Elizabeth Warren a “friend,” who “would be a good senator.”……
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10/15/2012
The gap between consumer and secondary market mortgage rates has blown out to a 12-year high, as this interactive graphic shows. Lenders have trouble explaining what will replace mortgage earnings once production fizzles, however….
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10/15/2012
While Comptroller Tom Curry made it clear that regulators will not back down from a push for higher capital levels, he suggested the agencies are considering other ways to reduce the burden of the Basel III proposal for community banks….
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10/12/2012
Jennifer Shasky Calvery took the reins at the Financial Crimes Enforcement Network last month, after 15 years at the Justice Department prosecuting money laundering and organized crime….
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10/10/2012
Banks have recovered maybe $1 billion in tax assets written down because of doubts about future profitability. That leaves more than $5 billion to go….
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10/10/2012
Four senior Republicans are criticizing the Commodity Futures Trading Commission’s judgment and use of resources after a federal court struck down its controversial “position limits” rule….
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10/09/2012
Swipe fees jumped at an annual rate of 40% in the second quarter among a group of institutions subject to the new debit card price caps. Interactive data on interchange revenue at 900 companies….
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10/09/2012
Federal Reserve Board publishes two final rules with stress testing requirements for certain bank holding companies, state member banks, and savings and loan holding companies……
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10/09/2012
The agency is cracking down on three mortgage relief firms that promise to help cash-strapped borrowers hold onto their homes while delivering little help and driving them deeper into debt….
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10/05/2012
Federal Reserve Board governor says vacancies are dragging down property values in high-foreclosure areas, and offers examples of solutions….
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10/05/2012
Sen. Richard Shelby’s term limit is about to expire, potentially putting Sen. Mike Crapo of Idaho in line to be the new GOP head of the banking committee….
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10/04/2012
The FDIC and Federal Reserve used special authority to require the two companies to draft ‘living wills’ outside the schedule used for other firms….
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10/03/2012
The Conference of State Bank Supervisors issued a statement Wednesday opposing the proposed Basel III rules, calling them “highly reactionary” and damaging to the banking system….
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10/03/2012
Angst over the scope enforcement was palpable at an Ellie Mae conference as mortgage lenders try to avoid the types of hefty fines the agency has already levied on credit card companies….
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10/03/2012
Small-bank executives sound call for stronger firewalls between financial activities, but many say a straight return to the Depression-era law could have unintended consequences, including to their own business….
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10/02/2012
The FDIC’s board of directors will meet Oct. 9 to discuss stress-testing requirements mandated under the Dodd-Frank Act, as well as some tweaks to how the agency charges large-bank premiums….
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10/02/2012
Nationstar Mortgage went from private equity flop to a top servicer of troubled loans, thanks to deft management and a Fannie Mae partnership once hidden even from parts of the government….
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10/02/2012
After the filing of a civil complaint alleging fraud in Bear Stearns’ mortgage-backed securities operation, New York Attorney General Eric Schneiderman says he expects more cases to come….
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10/01/2012
In a rare coordinated effort Monday, all three federal banking agencies, the CFPB and the state regulator in Utah announced more than $112 million in enforcement penalties against American Express for card practices that allegedly violated a range of consumer protection laws….
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10/01/2012
Examiners will be able to take their complaints to the comptroller’s office when they disagree with supervisory decisions….
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10/01/2012
U.S. regulators are making significant progress in implementing Basel III, according to a scorecard released Monday by the Basel Committee on Banking Supervision. But the EU received a worse grade….
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9/28/2012
As the Financial Stability Oversight Council took another step Friday toward designating certain nonbank firms as systemically important, speculation is growing over what firms it will target….
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9/27/2012
Goldman Sachs will pay $12 million to settle charges it made undisclosed contributions to a former Massachusetts state treasurer in violation of “pay-to-play” rules….
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9/27/2012
Treasury Secretary Tim Geithner asked the Financial Stability Oversight Council to take up structural reforms to the $2.6 trillion money market mutual fund industry, citing the Securities and Exchange Commission’s failure to act….
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9/27/2012
A bipartisan group of 53 senators is calling on banking regulators to consider the impact that proposed Basel III capital standards will have on community banks….
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9/26/2012
Interchange has become an ever-more important foundation for credit card lenders as loan portfolios tread water. This interactive graphic shows revenue yields and transaction volume data for large issuers….
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9/26/2012
Agencies reopen comment period on swap margin and capital proposed rulemaking……
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9/26/2012
With the first test of the $25 billion settlement coming up next week, monitor Joe Smith predicts that principal reductions will increase over the next few months and details how he will ensure firms are properly following through….
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9/26/2012
While criticizing big bank bailouts, the former FDIC chairman highlights instances where small firms – including United Commercial Bank and ShoreBank – were closed even though there were alternatives available….
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9/25/2012
About one in five consumers buying a credit score from a credit bureau receives a “meaningfully” different score than their lender would, according to the Consumer Financial Protection Bureau….
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9/25/2012
Credit card collection efforts appear to be more successful than before the recession, controversial practices notwithstanding. This interactive graphic shows recovery and chargeoff data for large lenders….
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9/25/2012
Assistant Attorney General Thomas Perez pressured the city of Saint Paul to withdraw a Supreme Court case that was supported by banks and threatened to undercut a key way the government targets lenders over fair lending laws. Republicans are crying foul….
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9/25/2012
In former FDIC Chairman Sheila Bair’s insider account of the financial crisis and its aftermath, Bair provides a detailed look at regulatory battles and delivers a scathing portrayal of Treasury Secretary Tim Geithner. She also offers key recommendations for reform, including abolishing the OCC….
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9/25/2012
Sheila Bair, former chairman of the Federal Deposit Insurance Corp., nearly succeeded in forcing the largest banks to hold at least 10% common equity capital as part of Basel III rules, but was stymied by Treasury Secretary Tim Geithner….
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9/24/2012
Regulators released a calculator Monday that is designed to help community bankers project how much capital they will need to hold under Basel III….
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9/24/2012
Agencies release a regulatory capital estimation tool to assist in assessing the potential effects of recently proposed regulatory capital rules……
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9/24/2012
The agency issued its second enforcement action on Monday, hitting Discover with a $200 million fine. Observers said it was clear violations will carry a steep price tag….
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9/21/2012
Trading revenues at commercial banks fell 73% in the second quarter from a year earlier, due in part to a $2 billion loss by Jamie Dimon’s JPMorgan Chase….
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9/21/2012
Republican presidential candidate Mitt Romeny released a housing white paper Friday, calling for GSE reform and repeal of Dodd-Frank….
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9/21/2012
While legal experts still question the suit now taken up by Michigan, Oklahoma and South Carolina, their participation helps to build momentum in the legal fight over Dodd-Frank….
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9/20/2012
After being named head of the Financial Services Roundtable on Thursday, former Minnesota Gov. Tim Pawlenty laid out his agenda for the trade group, saying banks need to do more to police themselves….
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9/20/2012
The selection of Tim Pawlenty as the Financial Services Roundtable’s new CEO was a shock to those inside and outside Washington. We answer frequently asked questions about why he was chosen and what it means for the Roundtable – and the industry….
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9/20/2012
The House Ethics Committee will on Friday hold a public meeting on Rep. Maxine Waters, who is under investigation for allegedly helping a Boston-based bank get bailout money during the crisis….
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9/19/2012
In sharply worded speech to the Exchequer Club Wednesday, the outspoken regulator said some executives “fail to grasp” the public’s mistrust in banks….
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9/18/2012
Although Federal Housing Administration-backed loans showed a downward trickle last year, federal mortgage insurance still makes up a sizeable chunk of the housing market, new government data said Tuesday….
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9/18/2012
New HMDA data show FHA- and VA-supported loans holding a huge share of the market as overall home loans and refis are still on the decline….
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9/17/2012
With just three and a half months left until 2013, regulators are under pressure to release a boatload of new regulations, including some of the most contentious items on their plate….
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9/14/2012
Regulators should re-examine how they classify deposits, or more banks could be classified as troubled. That was the view of a panel on the Transaction Account Guarantee program at American Banker’s Regulatory Symposium….
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9/14/2012
Prosecutors overreached in suing Luther Burbank Savings, which has agreed to settle charges its single-family mortgages were discriminatory, the bank’s lawyer said at American Banker’s Regulatory Symposium. He’s wrong, a Justice official replied….
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9/14/2012
In a speech at American Banker’s Regulatory Symposium, the FDIC board member said that the rules are too complex and won’t help stave off the next crisis….
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9/14/2012
The FDIC is trying to help bankers prep for exams and more clearly understand the results as part of a broader effort at improving relations, Martin Gruenberg, the agency’s acting Chairman, said….
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9/13/2012
In remarks planned for American Banker’s Regulatory Symposium, the potential candidate for House Financial Services chairman holds little back in criticizing the central bank….
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9/13/2012
Fed chief says regulators’ proposal for implementing capital accord is not intended to be a ‘one-size-fits-all’ approach….
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9/13/2012
Banks will not regain the public’s trust with good marketing, PNC chief executive officer James Rohr tells American Banker’s Regulatory Symposium….
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9/13/2012
Friends of Traditional Banking, a SuperPAC founded by state banking groups last spring, has voted to support Republican Sens. Scott Brown of Massachusetts and Dean Heller of Nevada….
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9/12/2012
The FDIC highlighted continued use of “alternative financial services” in its second-ever survey reporting the share of households that are unbanked or underbanked….
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9/12/2012
Banks as a whole continue to invest heavily in bonds issued by Fannie and Freddie, but allocations vary widely across individual companies. Use this interactive graphic to see portfolio composition for big holding companies….
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9/12/2012
Leaders of small banks do not want the Fed to purchase more bonds or keep interest rates low. Instead, they want the Fed stand down and let the economy heal on its own….
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9/12/2012
The Texas Republican criticized the 2010 financial reform law at a credit union industry conference on Wednesday….
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9/12/2012
A bill that could move quickly in the Senate would subject independent agencies like the FDIC and CFPB to more scrutiny from the president’s staff….
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9/03/2012
Bankers can declare an end to their summer of scandal now that Labor Day is done – but it remains to be seen whether the next few months will be any better….
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8/31/2012
Programs to strengthen bank liquidity, facilitate credit and buy mortgages were good moves, though it is hard to say how much worse things would have been in their absence, Federal Reserve Board Chairman Ben Bernanke said at the Jackson Hole summit….
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8/30/2012
In interviews at their convention in Tampa, Republican lawmakers downplayed the chances of a full repeal of Dodd-Frank, but instead said that reining in the new consumer agency and paring back derivatives rules would be goals in 2013….
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8/29/2012
In two lengthy interviews, John Walsh, the acting head of the OCC for nearly two years, offers his candid views on a range of subjects, including the FSOC’s effectiveness and the reform idea he believes is “something worth dying for.”……
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8/29/2012
Few banks with trust-preferred debt would fall below the Basel III capital minimum without the securities. Many are using the phase-out as an opportunity to retire the high-cost funding….
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8/29/2012
The central bank’s most recent Beige Book finds disparities both between and within regional districts about the appetite for new loans….
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8/28/2012
The banking industry earned $34.5 billion in the second quarter as continued declines in loan loss expenses outpaced a reduction in net interest margins, the Federal Deposit Insurance Corp. said Tuesday….
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8/28/2012
FDIC’s Quarterly Banking Profile shows broad improvements in the number of institutions making more loans. But with rock-bottom interest rates squeezing margins, banks yet again looked toward reduced loss provisions to drive earnings….
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8/27/2012
The Federal Reserve Board said Monday it is considering offering certain smaller-sized financial institutions more time before they have to undergo an annual stress test….
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8/27/2012
Federal Reserve Board considering changes to the implementation timeline for the Dodd-Frank company-run stress test requirements……
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8/27/2012
Credit risk in the shared national credit portfolio declines, but remains high……
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8/27/2012
Securities and Exchange Commission Chairman Mary Schapiro may have lost the first round in her push to reform the $2.6 billion money market mutual fund industry, but the fight has only just begun….
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8/27/2012
With credit quality still improving in corporate loans shared by multiple banks, the financial industry produced the first increase in shared credits in three years. Yet deterioration is still higher than norms….
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8/24/2012
The selloff in Treasuries that extended through much of this month underscores the dangers of adding exposure to long-dated bonds, but both large and small banks have been doing just that in recent quarters. Use this interactive graphic to examine the maturity profiles holding companies with at leas…
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8/24/2012
Following the unprecedented industry shifts over the past four years, financial institutions and industry lobbyists are looking to keep a low profile at gatherings in Tampa and Charlotte….
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8/23/2012
Agency tasked with overseeing resolutions of systemically risky firms will get assist from the SIPC when a broker-dealer is involved. But how exactly will their collaboration work?…
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8/22/2012
Friends of Traditional Banking, a SuperPAC created by a group of state associations last spring, has narrowed its sights to seven races – including the one the CFPB architect is in – and is hoping more community banks will join it….
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8/22/2012
The Federal Reserve did not object to a revised capital plan from Fifth Third Bancorp that included a potential divided increase and repurchase of common stock….
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8/21/2012
Yes, megabanks provide useful, all-in-one services. But their biggest customers challenge the argument that financial behemoths should be held together for their sake….
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8/21/2012
Although Republicans appear open to a bill that would make it easier for borrowers to refinance their mortgages, Democrats are balking at requests that the legislation also include measures to reform Fannie Mae and Freddie Mac, among other things….
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8/20/2012
After years of questions over whether regulators can impose “source-of-strength” rules, regulators are prepping a clearer standard that would, among other things, give them more oversight of some commercial firms such as Target and Toyota….
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8/20/2012
The Treasury Department announced Monday that it has tapped Jennifer Shasky Calvery as its new director of the Financial Crimes Enforcement Network….
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8/20/2012
While the president urged Congress to act before the end of the year, he did not sound optimistic about that happening….
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8/16/2012
Romney wants to make it easier for Congress to veto the proposals from regulators, and he vows to put a cap on new regulations. Both plans could have a big impact on financial regulation….
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8/15/2012
Federal regulators issued proposals on Wednesday that would make home appraisals essentially compulsory in certain cases before banks can approve a loan….
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8/15/2012
Agencies issue proposed rule on appraisals for higher-risk mortgages……
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8/15/2012
In a speech looking back at the financial crisis, the Arizona Republican was also critical of the Obama Administration for housing initiatives that he portrayed as too timid….
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8/15/2012
New proposals would require appraisals for “higher-risk” mortgages, and compel lenders to notify borrowers of their right to an appraisal report. But loans meeting the special QM standard would enjoy a lighter touch….
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8/14/2012
The smattering of data showing an upsurge in lending activity now includes the statistical reporting required under the Community Reinvestment Act….
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8/10/2012
Banking trade groups are furious about a move by the National Credit Union Administration to notify more than 1,000 credit unions that they may not need to comply with a cap on business lending….
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8/09/2012
Housing activists and other progressives pushed the president Thursday to oust Edward DeMarco and to dedicate more resources to investigating the run-up to the 2008 crisis….
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8/09/2012
Stories about buyout groups dissolving and heavy-handed regulation make private equity sound like the dog that never barked in banking. But such firms have notched hundreds of deals since the crisis, and the rollup machines they’ve created are poised to keep going….
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8/08/2012
Sens. David Vitter and Sherrod Brown are pressuring bank regulators to impose a higher capital surcharge for the largest U.S. banks….
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8/08/2012
Federal Reserve Board extends comment period on three proposed capital rules rulemakings until October 22, 2012……
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8/08/2012
Sen. Bob Corker, R-Tenn., showed further signs he could be a ‘nay’ if Congress voted on extending the Transaction Account Guarantee program….
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8/07/2012
Sandy Weill’s call to break up the big banks by restoring the Depression Era law has sparked a backlash among some who argue it would not help prevent the next crisis….
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8/07/2012
Bureau says banks with fewer than 100 international money transfers a year can avoid new fee disclosure requirements, but some industry officials say the threshold is still too low….
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8/06/2012
The inspector generals for two agencies concluded that neither improperly leaked draft copies of the Volcker Rule to American Banker….
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8/03/2012
A fund for penalties collected by the CFPB has its first $25 million, and lots of people are waiting to see how it will be spent….
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8/02/2012
Despite the setback, the issue may return when the Senate returns from recess in September….
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8/02/2012
A measure from Republicans Scott Garrett and David Vitter would end the government’s ability to designate non-banks as systemically important….
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8/02/2012
The tri-party repo market continues to pose a risk to the financial system, yet no federal agency has stepped up to take charge of the reform process….
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8/02/2012
Deadline to request Independent Foreclosure Review extended to December 31……
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8/01/2012
The financial industry spoke out Wednesday as progress on the measure sponsored by Sen. Joseph Lieberman has stalled in the Senate….
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7/31/2012
David Cohen, the Treasury undersecretary for terrorism and financial intelligence, urged banks to weigh in on a regulatory plan to require institutions to identify beneficial ownership of their account holders….
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7/30/2012
Federal Reserve Board announces final rule establishing risk-management standards for financial market utilities (FMUs) designated as systemically important by the Financial Stability Oversight Council……
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7/30/2012
The FDIC’s original blanket coverage for transaction accounts allowed institutions to opt out or pay extra fees to participate. But industry groups say extending Dodd-Frank’s version of the coverage, which eliminated fees and made participation compulsory, is the only way to go….
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7/30/2012
The South Carolina Republican is trying to force a vote on whether to repeal Dodd-Frank by holding up two measures that are priorities for the banking industry….
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7/27/2012
A joint effort by U.S. and international standards-setters to write rules on loss provisioning hits a speed bump just as an SEC report shows the broader aim of a truly global accounting regime is still far-off….
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7/27/2012
Federal Reserve Board approves final rule permitting debit card issuers to receive fraud-prevention adjustment……
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7/26/2012
Bank industry officials acknowledge that the measure is unlikely to become law, but they hope it sends a message to the Obama administration….
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7/26/2012
The agency announced that it is creating an office to examine the nation’s largest credit unions – the four with assets of over $10 billion, as well as the corporates – as part of a reorganization of its examinations process….
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7/26/2012
The Treasury secretary said Thursday that an extension of the crisis-era program, which remains popular with community banks, appears to be unnecessary….
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7/26/2012
Capital One will pay $12 million to military customers it overcharged for loans, as part of a settlement with the Justice Dept. and the OCC….
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7/26/2012
The Federal Deposit Insurance Corp. urged bank CEOs to watch out for middlemen seeking upfront fees to connect them with capital because, it says, many are frauds. The alert should have come sooner, some industry officials say….
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7/26/2012
Treasury Secretary Tim Geithner said Thursday a stymied plan by U.S. regulators to reform money market mutual funds must be allowed to move forward….
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7/25/2012
The CEOs who lead our largest banks ought to be spending their time trying to get ahead of the next problem and righting their corporate cultures. If they don’t, it may be only a matter of time before Congress breaks them up….
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7/25/2012
In a speech Wednesday, Sen. Richard Shelby said that if Republicans win control of the Senate, he will work to rein in the consumer bureau and other financial regulators….
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7/25/2012
The measure, sponsored by Texas Rep. Ron Paul, was easily approved by the House but is expected to die in the Senate….
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7/25/2012
Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking….
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7/24/2012
Fed Gov. Sarah Bloom Raskin urged regulators to narrow a potential loophole in the Volcker Rule that would allow some banks to bypass the ban on proprietary trading….
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7/24/2012
The Consumer Financial Protection Bureau is urging colleges to adopt a new form designed to make it easier for students to compare financial aid offers….
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7/24/2012
The CFPB director appeared Tuesday before the congressional panel most hostile to his agency, but the proceedings generally remained civil and respectful….
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7/24/2012
The yield curve flattened and it showed in margins among the first wave of banks to post second quarter results. But a sizeable group used some remaining levers – like the retirement of trust-preferred securities – to buck the trend….
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7/24/2012
At a Senate hearing on ways to help borrowers, Tennessee Republican Bob Corker said debate over education costs should “look at the entire picture.”……
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7/24/2012
A bipartisan bill that would permit regulators to grant federal charters to nonbank consumer lenders is being met with fierce resistance – particularly from regulators themselves….
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7/23/2012
The order against Capital One last week differed from how the banking regulators act in several key ways….
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7/20/2012
Poverty is the next big business in banking – but there are plenty of pitfalls before it becomes the next big success in banking….
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7/20/2012
The Indiana bank states that it has made major strides since deficiencies were identified more than a year ago….
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7/20/2012
The industry group claims a proposal to enact strict limits on how much credit exposure the largest banks can have to a major counterparty has significant design problems that could raise the cost of credit….
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7/19/2012
New analysis from a nonpartisan group shows that JPMorgan officials accounted for 18% of all industry meetings with the Fed concerning Dodd-Frank implementation over the past two years, while JPMorgan accounted for 17% of all meetings with Treasury. Goldman Sachs, which also held hundreds of discuss…
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7/19/2012
In a new study, the CFPB and Education Department say student lending’s path from growth to bust mirrored the housing debacle, and borrowers are still paying the price….
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7/19/2012
Federal Reserve Board reaffirms long-standing policy of applying relevant international risk-management standards to Fedwire funds and Fedwire securities services……
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7/19/2012
Habitat for Humanity, the non-profit homebuilder and lender, is concerned that overly strict standards on a borrower’s ability to repay its loan could put it out of business….
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7/19/2012
The CEO of State National Bank of Big Spring faced pushback from House Democrats over his argument that Dodd-Frank is squeezing small banks….
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7/18/2012
Two years after Dodd-Frank became law, the banking system continues to lack the basic tenants of transparency into the workings of the largest institutions and the good governance that comes with strong board oversight….
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7/18/2012
FSOC makes its first official designation of large firms that will be subject to new Dodd-Frank regulatory regime….
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7/18/2012
Demand for loans rose modestly nationwide, but results varied greatly by region and kind of loan – and some districts saw declines in important categories such as borrowing by large and midsize companies….
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7/18/2012
Jeremiah Norton expressed empathy for smaller banks during his first public remarks since joining the FDIC in April. Still, he rejected calls to delay implementation of Basel III capital requirements….
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7/17/2012
Comptroller of the Currency Thomas Curry is trying to create a tougher, more ethical agency, he testified Tuesday on Capitol Hill….
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7/17/2012
Compliance chiefs at other banks should roll video of a Senate panel’s grilling of HSBC executives about anti-money-laundering failures when they want to demonstrate the consequences of mismanaging risk….
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7/17/2012
The central bank chairman rose to the defense of the New York Fed over its handling of reports as far back as four years ago that Barclays traders had been manipulating the London interbank offered rate….
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7/16/2012
Card fees and anti-Wall Street rhetoric are playing big roles in Democratic Sen. Jon Tester’s tight reelection battle with Republican Rep. Denny Rehberg….
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7/15/2012
A final rule places credit reporting agencies under the bureau’s nonbank supervision program as part of its “larger participant” powers….
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7/13/2012
On eve of law’s second anniversary, regulators face heavy scrutiny over how they will implement remaining Dodd-Frank rules. Many key regulations have yet to be seen….
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7/13/2012
Visa, MasterCard and the largest banks have announced a proposed multi-billion dollar settlement with U.S. retailers in a longstanding lawsuit over swipe fees charged by the networks….
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7/12/2012
Banks are allowed to pass on costs related to FDIC premiums, but the agency is warning the industry that expressly designating an ‘FDIC fee’ has consequences….
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7/12/2012
Federal Reserve Board issues supervisory guidance for new optional pre-filing process for an applicant to request a response on a potential bank acquisition or other proposal……
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7/12/2012
Settlement with San Francisco bank is second-largest fair-lending case following Justice Department’s deal with Countrywide last year….
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7/11/2012
The government has failed to publicly vet its use of auctions to dispose of its remaining Troubled Asset Relief Program holdings. That leaves too many questions unanswered about its exit plans….
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7/11/2012
Members of the GOP-controlled House once again debated the impact – and potential pitfalls – of a section of the Dodd-Frank Act, with the subject du jour concerning so-called QM regulation….
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7/10/2012
Federal bank regulators Tuesday recommended that financial institutions take special precaution when using third-party cloud computing services….
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7/10/2012
The House voted unanimously late Monday to repeal the nearly 20-year-old requirement that automated teller machines have physical placards notifying users of fees….
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7/10/2012
Sen. Carl Levin’s investigations subcommittee plans to use British bank as example of money-laundering risks that face big global banks….
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7/10/2012
Senate Banking Committee chairman raises concerns about growing scandal and says lawmakers may question top U.S. officials on the matter later this month….
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7/10/2012
The new message focuses on a targeted approach to repealing certain provisions – rather than the whole law – and trying to convince everyday Americans they too will suffer the consequences of new rules for the financial industry….
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7/09/2012
The Consumer Financial Protection Bureau has received mostly positive reviews. But complaints of inexperienced examiners and confrontational exams stem from the fledgling agency’s effort to set itself apart from traditional banking regulators….
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7/09/2012
In a Q&A on the eve of the CFPB’s first anniversary, Director Richard Cordray explains why consumer complaints should be publicly released, and why the pending qualified mortgage plan needs more time….
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7/09/2012
A much-anticipated disclosure rule seeks to ease burden of overlapping requirements, while a separate proposal would further restrict prepayment penalties and balloon charges….
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7/06/2012
A recent survey by Ernst & Young shows more progress by banks to address deficiencies in their risk management practices, but growing concern for Basel III and new liquidity rules….
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7/06/2012
Three California local governments may use their eminent domain powers to seize mortgages and restructure them to help distressed borrowers stay in their homes – much to the dismay of investors who hold the mortgages….
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7/06/2012
The FDIC entered into an agreement with the $3 billion-asset Ameris Bank in Moultrie, Ga., which agreed to assume all of the bank’s $164.4 million in deposits….
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7/05/2012
Federal banking regulators repeatedly fell short in their efforts to alert foreclosed homeowners that they may be eligible for monetary relief, according to a new report from a government watchdog agency….
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7/05/2012
The agency published its first Semiannual Risk Review, a report offering a rare distillation of what it sees as the greatest safety and soundness threats facing banks, including weaker underwriting standards and new, potentially dangerous, products….
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7/05/2012
The mortgage lender’s program benefited numerous members of Congress, a handful of Capitol Hill staffers and then-HUD Secretary Alphonso Jackson, according to a report from the House Oversight Committee….
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7/03/2012
While nine of the largest, most complex U.S. banks largely followed the same template in filing their “living wills,” there were subtle but significant differences in their approach….
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7/02/2012
FDIC loss-sharing deals are significantly down this year as failures get smaller, bidders become more competitive and the economic situation improves….
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7/02/2012
In a last-minute reversal, David Stevens, president and CEO of the Mortgage Bankers Association, will remain at the trade group rather than departing to run SunTrust Mortgage….
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6/29/2012
Nine banks will submit their resolution plans to the FDIC and Fed by Tuesday, with the public portion of the so-called living wills expected to be released that afternoon….
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6/29/2012
Banking agencies issue host state loan-to-deposit ratios……
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6/29/2012
Agencies release list of distressed or underserved nonmetropolitan middle-income geographies……
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6/29/2012
Federal Reserve Board and Federal Deposit Insurance Corporation announce process for receiving and evaluating initial resolution plans, also known as living wills……
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6/29/2012
Upheaval in funding markets has radically reshaped the liability profile of foreign bank operations in the United States, but they have continued to increase lending despite an exodus of deposits that began in the middle of last year….
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6/29/2012
As Washington starts to look at the rapidly emerging sphere, some in the industry are calling for regulators to level the playing field, while others are warning that regulation may stifle innovation….
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6/28/2012
In a report released Thursday, the Government Accountability Office flagged concerns about the rising use of appraisal management companies as well as the government’s oversight of the appraisal industry….
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6/28/2012
The CFPB finalized a rule Thursday that seeks to ensure that information banks give the bureau through supervision retains attorney-client privilege….
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6/28/2012
In a case that could have narrowed the ability to sue under numerous consumer protection laws, the Supreme Court decided Thursday not to issue a ruling, saying that it was wrong to hear the case in the first place….
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6/28/2012
The Government Accountability Office put new pressure on the agency to make a decision after months of foot-dragging….
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6/28/2012
Regulators are taking a hard look at payday lending practices, and that could give banks an unprecedented edge over storefront operators….
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6/27/2012
Unlike last summer, deposit levels have been relatively stable recently as the euro crisis has reached a new crescendo. Either the most nervous money has already fled to the shelter of the bank safety net, or tensions are only just building….
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6/27/2012
Dodd-Frank-required study finds borrowers are younger and seniors are increasingly taking out bigger loans….
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6/27/2012
In a startling report, the FHFA’s inspector general said that the Home Loan banks extended credit to firms on the brink of failure, in part to make up for declining advances….
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6/27/2012
The measure, which the bank industry is seeking to end a spate of lawsuits over missing fee-disclosure signs on ATMs, is now on a path to speedy passage by the House….
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6/26/2012
The House Financial Services Committee votes Wednesday on a bill that would help banks avoid a rash of frivolous lawsuits over ATM fees. The following day, the Supreme Court is expected to issue a ruling that could have a similar effect as the legislation….
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6/26/2012
Led by Rhode Island Sen. Jack Reed, Senate Democrats called Tuesday stronger protections for members of the military regarding payday loans, private student loans and foreclosures….
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6/22/2012
Report finds that smaller credit spreads helped lower the exposure in the first quarter of the year, but the continuing risks from the European debt crisis have some traders interested in higher returns….
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6/22/2012
Supporters of the agency are dismissing as a political stunt a new lawsuit seeking to abolish it, and even those who’d like the case to succeed are privately calling it an uphill battle. But the suit may still have an impact on the CFPB’s operations in a more indirect way….
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6/21/2012
Fees paid to outside auditors appear to have been relatively stable in recent years. So have legal expenses for smaller institutions since mid-2010, when the 2,000-odd pages of the Dodd-Frank Act became law….
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6/21/2012
Homeowners who faced wrongful foreclosure actions due to big banks’ mortgage servicing failures are entitled to cash payments of as little as $1,000 to up to $125,000, according to new federal guidelines. But consumer advocates say that disparity is too wide….
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6/21/2012
Regulators issued new guidance Thursday designed to provide relief for military homeowners who must move quickly to comply with orders….
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6/21/2012
The State National Bank of Big Spring is leading a lawsuit against the Consumer Financial Protection Bureau, becoming the first known community bank to file a lawsuit against the agency….
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6/21/2012
Agencies release financial remediation guidance, extend deadline for requesting a free independent foreclosure review to September 30, 2012……
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6/21/2012
Agencies issue guidance concerning mortgage servicing practices that impact servicemembers……
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6/21/2012
Rep. Barney Frank joined Senate hopeful Elizabeth Warren on Thursday to argue that Republicans will undo top provisions of Dodd-Frank if they capture the Senate this year….
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6/21/2012
The SEC chief’s ideas for reforming the money market fund industry received a cool reception Thursday from members of the Senate Banking Committee….
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6/20/2012
Following Dodd-Frank mandate, the agency broadens the applicability for limits on an exposure to one person, and streamlines how limits apply to banks and thrifts….
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6/20/2012
Fed Chairman Ben Bernanke suggested that the Volcker Rule to ban proprietary trading would have helped to prevent the $2 billion credit loss at JPMorgan….
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6/20/2012
Despite calls by industry trade groups to slow down, the consumer bureau said Wednesday that it will release a consolidated disclosure form by its July 21 deadline….
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6/19/2012
As Comptroller Curry discloses concerns about JPMorgan Chase’s risk management, lawmakers continue their debates over agency funding, derivatives oversight and other issues of the reform effort….
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6/19/2012
After breezing through a Senate hearing last week, Jamie Dimon faced tough questions from members of both parties at a hearing before the House Financial Services Committee….
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6/19/2012
The agency notified approximately two-thirds of the remaining Tarp banks that it plans to sell their preferred shares in pooled auctions….
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6/18/2012
The FHA has rescinded guidelines that would have made it harder for consumers to qualify for a mortgage if they have a collection action or disputed credit account of at least $1,000….
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6/18/2012
The public will be able to review complaints against individual banks through a database the CFPB is launching Tuesday….
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6/18/2012
The Birmingham, Ala., bank stands out for its efforts to attract long-ignored customers to the traditional banking system with alternative products, including the popular but controversial “Ready Advance.”……
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6/18/2012
Private-sector watchdog for FSOC launches with goal of moving regulators in the direction of quicker rules to implement Dodd-Frank….
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6/18/2012
The Republican congressman urged the SEC, which has been studying computer-driven trading techniques, not to take steps that will hurt financial markets….
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6/15/2012
Members of the House Financial Services Committee have a chance Tuesday to pose tougher questions about the JPMorgan trading losses than their Senate counterparts did….
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6/15/2012
As with housing, different bank markets across the country have crashed and recovered at different speeds. Measured by institutions with high Texas ratios, stress has tapered quickly in states like Washington and California, but remains elevated in Georgia, Illinois and Florida….
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6/14/2012
A senior Consumer Financial Protection Bureau official brought the agency’s charm offensive to the West Coast, praising bankers and non-bank executives for providing financial services to poor consumers….
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6/14/2012
The party-line vote sets up a showdown with House Republicans over the budget of an agency that plays a key role in implementing Dodd-Frank….
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6/14/2012
A proposal by regulators to revamp the way banks must measure risk on certain assets is alarming many community bankers, who argue it will raise capital requirements, increase compliance costs and curb lending….
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6/13/2012
Jamie Dimon, the chairman and chief executive of JPMorgan Chase easily won a Senate Banking Committee hearing on Wednesday probing the more than $2 billion loss at his firm, signaling that his star status on Capitol Hill remains relatively unchanged despite ongoing questions about the unusual trades…
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6/12/2012
The FDIC voted to release proposed rules implementing Basel III for comment, but officials suggested the capital accord may not go far enough….
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6/12/2012
Not only is JPMorgan Chase a top campaign contributor to Senate Banking Committee senior leadership, the company’s lobbying team also includes several ex-staffers with ties to lawmakers….
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6/12/2012
Agencies seek comment on regulatory capital rules and finalize market risk rule……
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6/12/2012
In congressional testimony, the JPMorgan Chase chief executive seeks to strike a balance between contrition and assurances that the situation is under control….
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6/12/2012
We offer a primer on what topics are liable to be covered, who is likely to hit Jamie Dimon the hardest and what to look out for when the JPMorgan Chase CEO testifies Wednesday at the Senate Banking Committee hearing….
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6/11/2012
In a new book, a reporter who chronicled Washington Mutual’s rise and fall offers new details about its collapse and what it says about the banking system….
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6/11/2012
The Basel Committee on Banking Supervision said it discovered deficiencies among the 27 member countries in how they were adopting Basel III….
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6/08/2012
The former head of the Commodity Futures Trading Commission joined lawmakers on Friday that were protesting GOP-proposed cuts to the agency’s funding….
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6/08/2012
The Federal Housing Administration announced plans Friday to expand a program that encourages the sale of distressed mortgages to new investors….
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6/07/2012
The Atlanta bank, which was forced to retreat from a $5 debit-card fee in the fall, is making it more difficult for some customers to qualify for free checking….
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