Compliance

Sen. Bob Corker championed a provision he added to the budget bill that would temporarily prevent the Treasury Department from recapitalizing Fannie Mae and Freddie Mac and discussed other banking priorities in a sit-down interview with CU Journal affiliate American Banker.

House Republicans attacked the Consumer Financial Protection Bureau on Wednesday, arguing the agency is not able to safely secure the anonymous bulk data it collects on consumers' financial activities.

Despite months of intense lobbying, the financial services industry failed to secure a number of key reforms in Congress's must-pass spending package, unveiled Tuesday night.

TILA/RESPA Integrated Disclosures, less affectionately known by mortgage providers as TRID, represented a sea change for the home loan industry. The new disclosures were mandated by the Consumer Financial Protection Bureau to "streamline" the home loan experience for consumers, but they resulted in a great deal of extra effort by credit unions and their vendor partners.

Credit risk, interest rate risk and cybersecurity concerns pose growing risks to banks in the first half of 2016, according to a semiannual risk report issued Wednesday by the Office of the Comptroller of the Currency.

Credit risk, interest rate risk and cybersecurity concerns pose growing risks to banks in the first half of 2016, according to a semiannual risk report issued Wednesday by the Office of the Comptroller of the Currency.

Many small banks and credit unions today offer convenient, in-house instant card issuance to their customers to stand out from the pack.

The Office of the Comptroller of the Currency's unexpected move to require the largest banks to develop a "recovery plan" has raised questions about why the agency is moving now and how its mandate differs from regulatory requirements for institutions to develop "living wills."

Citing rising compliance costs and regulatory burdens, some federally insured credit unions, state leagues and trade groups have been asking the National Credit Union Administration to increase the time between CU examinations.

The general public is largely uninformed about what EMV is, why it is coming into the US and the benefits of adopting more secure payment technology.