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Community Banks and Credit Unions |
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Results 1 - 10 of 1289 |
Posted Date: Friday, May 3, 2024
As the Federal Reserve announced for the sixth straight month that interest rates will remain unchanged, the agency signaled its plans to shift its approach to tackling inflation. This will entail reducing the amount of Treasury securities held on its balance sheet through a process commonly referred to as quantitative tightening.
Fed Chair Jerome Powell offered a detailed explanation of the decision, and Mortgage Bankers Association Chief Economist Michael Fratantoni commented on the implications. Read on »
Posted Date: Friday, May 3, 2024
Financial trade organizations have their sights trained on several pressing regulatory issues that were not as widely publicized as others but are still critical to their operations. In this roundup, we examine what some of the largest associations representing banks and credit unions have to say about potential rulemaking activities and pending legislative matters that could affect their members’ businesses. Read on »
Posted Date: Tuesday, April 30, 2024
Federal regulatory agencies frequently seek feedback from industry stakeholders by forming advisory committees and advertising for comments on rulemaking activities. The Federal Deposit Insurance Corp. recently added representatives from multiple institutions to its advisory committee on community banking. Learn about these developments and more in this regulatory roundup. Read on »
Posted Date: Tuesday, April 23, 2024
The Federal Reserve’s proposed changes to regulations on interchange fee caps have received pushback from the financial sector and sparked disagreement among Fed Board governors. The Fed extended the comment period by 90 days, until May 12, in response to industry concerns about needing more time to evaluate the rule’s implications.
Comments have continued to roll in from banks, credit unions, legislators, merchants and non-profit organizations expressing mostly opposition to the proposal. Read on »
Posted Date: Tuesday, April 23, 2024
The National Credit Union Administration unanimously approved an advance notice of proposed rulemaking asking stakeholders to suggest improvements to the agency’s regulations implementing its records preservation program and accompanying guidelines.
NCUA rules and regulations require all federally insured credit unions to maintain a records retention program to identify, store and reconstruct vital records in the event they are destroyed. Read on »
Posted Date: Friday, April 19, 2024
The Consumer Financial Protection Bureau’s final rule restricting credit card late fees faces a resolution of disapproval which has substantial industry support. The House Financial Services Committee voted 28-22 along party lines to advance the measure to the full House for consideration.
See what various financial trade associations have to say about the resolution, as well as other recent regulatory and legislative developments. Read on »
Posted Date: Friday, April 19, 2024
Financial industry advocates are calling for federal policies to address the “skyrocketing” numbers of “pig butchering” scams. The Treasury Department’s Financial Crimes Enforcement Network and the Department of Justice have issued warnings to financial institutions and the broader public about the dangers of these types of crimes, which are often perpetrated through online channels using virtual currencies. Read on »
Posted Date: Friday, April 19, 2024
Community banks are urging Congress to consider specific revisions to the Farm Credit Adjustment Act, which is intended to aid rural credit institutions in providing critical financial support to farmers and producers throughout the country. The financial industry generally supports many of the bill’s provisions but has concerns regarding aspects applying to non-farm financing authorities within the Farm Credit System. Read on »
Posted Date: Friday, April 12, 2024
Harborstone Credit Union recently entered into the second of two bank purchase agreements in six months by agreeing to purchase Savi Financial Corp., Inc., the bank holding company for SaviBank, in an all-cash transaction. The credit union previously agreed to acquire First Sound Bank in August of last year. Read on »
Posted Date: Friday, April 12, 2024
The Consumer Financial Protection Bureau’s final rule to cap credit card late fees has met with significant pushback from the financial industry. Learn about these views and more in this roundup of takeaways from industry trade groups. Read on »
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