Compliance

The Consumer Financial Protection Bureau sent letters Thursday to 44 mortgage lenders warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

Many fully expected the agency to approve the significant overhaul of its field of membership rule, but the regulator went one better, issuing a new proposal that raises the population limit on well-defined communities from 2.5 million to 10 million.

In bringing back public budget hearings, the National Credit Union Administration is doing something no other federal financial regulator does.

One of the nation's biggest prepaid card companies said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.

Nearly a year and more than 10,000 comment letters after it was introduced, the National Credit Union Administration is expected to vote Thursday on a final rule that would make it easier for consumers to join a credit union.

With compliance costs on the rise, some banks are looking at sharing staff -- a move CUs have utilized for many years.

WASHINGTON – Sixteen Senate Democrats sent a letter to federal financial regulators on Wednesday asking them to strengthen a proposal to restrict executive compensation at financial firms.

Five banks in Kansas are putting together plans to share a compliance officer. While the move should save money, the banks are fully aware of the risks involved with the potential collaboration.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

When the San Bernardino shooter obtained a loan online, he reportedly used his real name, which wasn't on the government's sanctions-screening list, underscoring the limitations of identity verification technology.

Thirty CUs have agreed to pay late fines to the Treasury totaling more than $20,000.

First NBC Bank in New Orleans may have avoided one problem only to run into a much bigger issue.

NCUA's new, interactive online Examiner’s Guide from is intended toprovide up-to-date, comprehensive, supervisory guidance that can be updated as new laws and regs take effect.

Corporate culture is difficult to define and document. But bankers have a responsibility to set high ethical standards in the way they pay and promote their employees, according panelists at a New York Fed conference Thursday.

A federal appeals court’s decision that declared the Consumer Financial Protection Bureau an arm of the White House relies on a novel interpretation of the constitution’s separation of powers clause that could have broader effects on how other regulators like the OCC and FHFA interact.

Legal fees for lawsuits against the banks and securities firms that sold the faulty mortgage-backed securities that led to the corporate credit union meltdown have eaten up more than 20% of total recoveries.

A slew of recent cases of misconduct in banking – from both the investment and retail sides of the business – have eroded the trustworthiness of the entire industry, William Dudley, president of the Federal Reserve Bank of New York, said Thursday.

A win by Hillary Clinton would be something of a mixed bag for credit unions. On the one hand, she's a moderate with detailed policies and has pledged to roll back the regulatory burden for CUs. Yet she may also be pushed to the left as she navigates issues, particularly on regulatory appointments.

BancorpSouth in Tupelo, Miss., reported higher third-quarter earnings after net interest and fee revenue improved from a year earlier.

The Consumer Financial Protection Bureau decried an appeals court ruling last week that found its single-director structure unconstitutional, saying the opinion was "wrongly decided" and had "no basis in the text of the Constitution or in Supreme Court case law."