NCUA has assessed a civil money penalty of $19,000 against Paradise FCU here for for late submissions of data required by the Home Mortgage Disclosure Act (HMDA). The fine against the National City, Calif., credit union was the 17th assessed by NCUA for late HMDA filing over the past two weeks, and the largest. Credit unions must collect HMDA data throughout the calendar year and file the data with the Federal Reserve Board by March 1st of the following calendar year.
A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
