ALEXANDRIA, Va. - (10/20/05) -- NCUA continued its unprecedentedeffort to compel credit union compliance with consumer reportingrequirements and said Wednesday it fined Paradise FCU $19,000 forfailing to file Home Mortgage Disclosure Act reports within theproper time frame. The fine against the National City, Calif.,credit union was the 17th assessed by NCUA for late HMDA filingover the past two weeks, and the largest. Credit unions arerequired to collect HMDA data throughout the year and file the datawith the Federal Reserve by March 1 of the following calendaryear.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25