Regulation

After FinCEN issued its final BSA rule, the NCUA plans to address requirements about ongoing customer due diligence.

The Consumer Financial Protection Bureau on Wednesday asked for public input on the way it receives and processes complaints from consumers in what the agency said was a preliminary step toward making improvements.

The Seattle bank's improved loan yields offset higher expenses tied to Bank Secrecy Act remediation. Washington Federal had to delay a pending acquisition after issues emerged with its anti-money-laundering compliance.

Proposal would lower capital requirements for some, raise them for others; Mulvaney says enforcement division will continue to police lending discrimination.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.

The Federal Reserve Board released a proposal Tuesday to modernize its stress testing regime by replacing many of the existing post-stress minimum capital levels with a so-called “stress capital buffer."

The comptroller said he is looking to capitalize on the industry's strong profits and high capital reserves to reduce costs and lower exam fees next year.

Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms.

The acting head of the Consumer Financial Protection Bureau said he is “pleasantly surprised” with most personnel but raised concerns about those who lean toward the regulatory philosophy of Sen. Elizabeth Warren.

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence."