Compliance

As servicers downsize their loss mitigation units, housing counselors are finding the companies' designated points of contact are less experienced, making it more difficult to get packages approved for troubled borrowers.

Rep. Patrick McHenry, R-N.C., is readying a package of bills, one of which could provide financial tech firms with national standards, so that they wouldn't have to comply with the various state regulations.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

The Credit Union National Association joined forces with the Independent Community Bankers of America on a letter to the Financial Accounting Standards Board urging changes to a proposal to alter how financial institutions establish reserves for loan losses.

More loans mean more profit, but they also mean more paperwork, more underwriting and more chances for things to go wrong if the CU doesn’t have the bandwidth to handle the load.

The agency's updated regulation gives credit unions new flexibility—a flexibility that a number of performance metrics suggest the industry can handle, according to the regulator's historic data.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

Consumer Financial Protection Bureau head Richard Cordray faced a barrage of hostile questioning from members of Congress, who hammered him over everything from payday lending to regulatory relief for small financial institutions.

Lawmakers sharply criticized the Federal Deposit Insurance Corp. on Wednesday over a watchdog report that said the agency used abusive tactics to stop banks from offering refund anticipation loans.

In what has become almost a grim ritual, Consumer Financial Protection Bureau director Richard Cordray faced a barrage of hostile questioning from Republican members of the House Financial Services Committee, who hammered him over everything from payday lending to regulatory relief for small banks.

The chairmen of the House and Senate banking committees appear to agree that banks that hold higher capital should get a significant break on other regulatory requirements. But the odds of enacting a bill this year remain long.

The Wisconsin Senate passed a bill Wednesday regarding the regulation of credit unions that had previously received the support of the Wisconsin Credit Union League.

Regulator says it also continued multi-year effort to 'create and maintain a modern regulatory structure' that allows CUs to evolve and grow, as well as address emerging threats and risks to the system.

MasterCard Inc., the second-largest U.S. payments network, received a finding of violation from the Treasury for failing to report accounts held by two Iranian banks that were placed on a list in 2007 that prohibits U.S. entities from dealing with them.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out credit unions and community banks from onerous regulations. But will it make a difference?

Retailers who claim that restrictions on debit card fees benefit credit unions and community banks miss the point: These price controls are bad for consumers.

To hear some former examiners tell it, companies that are hostile during the exam process may get dinged more often than those that show respect and professionalism. Following are tips to ensure bankers do better on their next exam.