Regulation

A new study shows credit unions are confident about their ability to comply with recent changes to FinCEN guidance, but a closer look shows some concerns linger, especially regarding training front line staff.

As the CFPB moves closer to updating its debt collection regulations, revising restrictions on phone calls and other communications with consumers must be a priority.

The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.

The central bank said that while financial markets' desire for higher yields raises the potential for losses, capital and liquidity safeguards temper any concerns about a looming crash.

Lawmakers from both parties oppose a Small Business Administration proposal to raise guarantee fees. The clash could lead to a halt in operations this fall.

The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications.

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.

The credit unions, all of them small institutions, will pay a total of $4,069 in penalties for tardy submission of Q3 2018 all reports.

Two nonprofits threatened by the effort say the Department of Housing and Urban Development tried to avoid scrutiny last month when it announced the new policy outside the formal rulemaking process.

Fitch Ratings issued a negative warning for global banks after federal regulators proposed some relief from resolution plan requirements.