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Federal Reserve Board and FDIC Release Reports on Signature Bank Findings
The Federal Reserve Board (FRB) on Friday published the results from their review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S....
Federal Bank Regulatory Agencies Seek Comment on Effort To Reduce Regulatory Burden
Federal Deposit Insurance Corporation Federal Reserve Board Office of the Comptroller of the Currency The federal bank regulatory agencies today announced their third notice requesting comment to reduce regulatory burden....
CISA Releases Guidance For Network Monitoring to Detect Malicious Cyber Actors
The Cybersecurity and Infrastructure Security Agency (CISA), in collaboration with the National Security Agency (NSA), Federal Bureau of Investigation (FBI), and international partners, has released crucial guidance for monitoring networks...
Dec. 6: CFPB Recent Updates
Published DEC 06, 2024 CFPB Sues Comerica Bank for Systematically Failing Disabled and Older Americans The Consumer Financial Protection Bureau (CFPB) sued Comerica Bank for systematically failing its 3.4 million Direct...
Nov. 22: CFPB Recent Updates
CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking” The Consumer Financial Protection Bureau (CFPB) today finalized a...
FinCEN’s Latest FAQs on Beneficial Ownership Reporting: Key Updates and Implications
The Financial Crimes Enforcement Network (FinCEN) recently updated its Frequently Asked Questions (FAQs) regarding the Beneficial Ownership Information (BOI) Reporting Rule. The October 3, 2024 FAQ updates provided crucial clarifications...
NCUA Board Approves Central Liquidity Facility Budget for 2025–2026
The National Credit Union Administration (NCUA) Board held its eighth open meeting of 2024 and approved the Central Liquidity Facility’s budget for 2025–2026. The Board also received a briefing on...
Nov. 15: CFPB Recent Updates
Published NOV 14, 2024 CFPB Orders Global Tel Link to Pay $3 Million for Illegally Freezing and Draining Payments Accounts for People Who Are Incarcerated The Consumer Financial Protection Bureau (CFPB)...
Household Debt Rose Modestly; Delinquency Rates Remain Elevated
The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $147...
U.S. House Committee on Financial Services Hearing Notice: Oversight of Prudential Regulators
Washington, November 13, 2024 – Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearing: Full Committee Hearing Entitled: “Oversight of Prudential Regulators” Time: 10:00 AM ET Date:...
How Will Banks Ensure Cash Availability in the Wake of Natural Disasters?
Banks are focusing on maintaining access to cash during crises, refining their business continuity plans, and diversifying cash reserves to ensure liquidity in disaster-hit areas. Recent events like hurricanes Helene...
2024 Audit of the CFPB’s Information Security Program
Office of Inspector General: Each year, we audit the CFPB’s information security program as required by the Federal Information Security Modernization Act. The CFPB’s information security program remains effective as a...
PODCAST: State Fair Access / Debanking Laws Bring Country’s Political & Cultural Divisions to the Fore
New State Laws Create Tension with Federal AML Requirements An increasing number of states have either enacted or are considering enacting legislation requiring financial institutions to provide persons (both existing...