Compliance

Several bankers left a high-profile meeting with the Financial Accounting Standards Board feeling more comfortable with a plan to change reserve accounting. The meeting was thrown into an abrupt recess after a FASB director and a bank lobbyist clashed over recent statements by FASB's chairman linking community banks to the financial crisis.

The House passed a bill Thursday 250-169 that would limit regulators' ability to force banks to cut ties with certain businesses despite Democratic fears that it could hamstring the Justice Department's ability to prosecute bankers responsible for the financial crisis.

The amount of complaints in the Consumer Financial Protection Bureau’s database dealing with payday loans is relatively small, so why is the proposal to regulate payday lenders so sweeping?

NCUA reports conserved credit union has taken "several steps to address financial and management issues affecting the safety and soundness of its operations."

Louise Roseman, the longtime head of the Federal Reserve's payment systems division, plans to retire this year.

All it takes to bridge the divide between and credit unions and banks - and lawmakers on opposite ends of the political spectrum - is a controversial accounting change that threatens to harm members of both industries.

The European Commission wants to snuff out terrorist funding, a strategy that could include tight monitoring of cash and Bitcoin, and national account registers.

The Consumer Financial Protection Bureau announced Wednesday that too few institutions offer checking accounts that discourage or prevent overdraft charges, and those that do have not advertised them.

A Federal Reserve task force has issued criteria for its faster payments initiative, part of a long journey to build a framework to securely and efficiently accommodate the near real-time processing for digital commerce.

While most federal financial regulators use enforcement actions as a way to shape industry practices, the Consumer Financial Protection Bureau is taking that to a whole other level, frequently using orders as a substitute for new rules or guidelines.

State financial institution regulatory agencies in Idaho and Vermont have been approved for reaccreditation by the National Association of State Credit Union Supervisors (NASCUS) and the Conference of State Banking Supervisors (CSBS), in the wake of recent reviews, NASCUS announced.

Vantiv will stop processing transactions for its clients in daily fantasy sports amid government claims the sites are violating gambling laws, the New York Times reported Friday.

ALEXANDRIA, Va. – The National Credit Union Administration said it issued six orders in January prohibiting the following persons from participating in the affairs of any federally insured financial institution:

Outsourcing has allowed CUs to offer broader services and improve convenience, but it also adds a complex risk dimension for credit unions to manage.

Alexandria, Va. – Twenty-two credit unions have agreed to pay civil monetary penalties for filing their third-quarter call reports late, the National Credit Union Administration said Wednesday.

WASHINGTON – Risks to financial stability have risen in the past year across several key areas, the Treasury Department’s Office of Financial Research said in a report to Congress issued Wednesday.

Banks that prioritize structural changes in their compliance process will make risk frameworks more effective and sustainable over time.

The Mississippi bank hopes its settlement talks with the CFPB and Justice Department ultimately clear the way for it to complete acquisitions in Texas and Louisiana, but time is running short.

Credit union service organizations can begin to register with the NCUA’s CUSO Registry starting Feb. 1, the agency said Monday.

The agency is expected on Wednesday to release the list of credit unions that missed the Call Report filing deadline on Jan. 22. Though the number of late filers has decreased significantly since NCUA first started imposing fines, some concerns about scheduling Call Reports have been raised.