Compliance

For steering the Winston-Salem, N.C., company through an extended period of industry adversity, while providing a blueprint for large-scale M&A, King has been named American Banker's Banker of the Year for 2015.

NCUA on Friday liquidated Bethex Federal Credit Union, based here, exactly three months after the regulator placed the troubled CU into conservatorship.

WASHINGTON — The House and Senate have approved major spending and tax packages, which are now en route to the White House to be signed into law.

YUMA, Ariz. — A.E.A. Federal Credit Union, based here, once again is under the control of its members after five years of conservatorship, NCUA said Friday.

The agency's Fraud Prevention Center, which is also designed for mobile use, provides information on types of frauds or scams; what to do, in the event of being a victim of fraud or identity theft; how to stay safe online; and how to contact NCUA partners for assistance.

WASHINGTON — The Office of the Comptroller of the Currency released details Thursday of a proposal that would require large banks to submit a "recovery plan" for how they would survive a crisis.

Though happy with some of the changes the agency made to its final IOLTA rule, CUNA and NAFCU cited areas where the regulator could have done more to improve the landscape for CUs.

Sen. Bob Corker championed a provision he added to the budget bill that would temporarily prevent the Treasury Department from recapitalizing Fannie Mae and Freddie Mac and discussed other banking priorities in a sit-down interview with CU Journal affiliate American Banker.

Despite months of intense lobbying, the financial services industry failed to secure a number of key reforms in Congress's must-pass spending package, unveiled Tuesday night.

TILA/RESPA Integrated Disclosures, less affectionately known by mortgage providers as TRID, represented a sea change for the home loan industry. The new disclosures were mandated by the Consumer Financial Protection Bureau to "streamline" the home loan experience for consumers, but they resulted in a great deal of extra effort by credit unions and their vendor partners.

Credit risk, interest rate risk and cybersecurity concerns pose growing risks to banks in the first half of 2016, according to a semiannual risk report issued Wednesday by the Office of the Comptroller of the Currency.

The Office of the Comptroller of the Currency's unexpected move to require the largest banks to develop a "recovery plan" has raised questions about why the agency is moving now and how its mandate differs from regulatory requirements for institutions to develop "living wills."

Citing rising compliance costs and regulatory burdens, some federally insured credit unions, state leagues and trade groups have been asking the National Credit Union Administration to increase the time between CU examinations.

California regulators on Monday identified 14 companies that the state is targeting as part of its recently announced inquiry into the marketplace lending industry.

The first state inquiry into marketplace lending is seeking information from a broad mix of companies, including consumer lenders, small-business lenders, and firms that are not primarily in the lending business.

News that two suspected terrorists took out a loan with a prominent marketplace lender has fueled fears online lending is more susceptible to terrorist financing. Yet experts said that the criticism directed at the industry appears unfounded. Here's why.

A modern version of the Depression-era law would not only make banks safer, but it would also reduce compliance costs and erase the need for certain capital mandates.

NCUA on Thursday said it has reached a settlement with Morgan Stanley, as the company agreed to pay $225 million to resolve claims arising from losses related to corporate credit unions’ purchases of faulty residential mortgage-backed securities (RMBS).

Despite strong calls for action, issue may languish until after the presidential election.

Despite getting off to what CUs likely consider a rocky start with the agency’s second attempt at RBC, industry observers say Matz came through on her promise of a ‘Year of Regulatory Relief.’