Compliance

Furthering efforts to bring virtual currency mainstream, cryptocurrency companies and trade groups are teaming up to create a forum to aid law enforcement in weeding out criminal activity.

The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.

Fourteen federally insured credit unions subject to civil monetary penalties for filing late Call Reports have consented to penalties, NCUA said Wednesday.

Democratic presidential candidate Sen. Bernie Sanders is backing a plan to allow the U.S. Postal Service to provide banking services.

Private mortgage insurers are seeking a larger share of the credit risk on Fannie Mae and Freddie Mac-guaranteed loans.

Credit Agricole agreed to pay $787 million to U.S. regulators and enter into a deferred prosecution agreement with the Justice Department to resolve allegations the French bank violated sanctions aimed at Iran and Sudan.

Bank of New York Mellon won final approval of a $180 million settlement with investors who claimed they lost money amid allegations the bank had defrauded clients in foreign-exchange transactions for as long as a decade.

A federal appeals court has dealt the retail sector a setback in the ongoing fight over surcharges on credit card purchases.

The government's spotlight on servicing problems means companies should be taking steps now in the face of regulators' current enforcement authority and the potential of coming rules.

Mortgage servicers have gotten a rare reprieve from the Federal Housing Administration.

Comptroller of the Currency Thomas Curry praised the House for passing a bill to raise the asset threshold to qualify for an 18-month exam cycle to institutions with less than $1 billion of assets, and urged the Senate to follow suit. Meanwhile NCUA, which already has the authority to extend its exam cycle has steadfastly refused to do so.

The National Credit Union Administration struck a cautiously optimistic tone in its latest "economic update" video, posted on YouTube Monday.

ALEXANDRIA, Va. — NCUA announced it has entered into an agreement under which investment bank Barclay's Capital will pay $325 million to resolve claims arising from losses related to the purchase of faulty residential mortgage-backed securities by corporate credit unions.

Even if Operation Choke Point officially ended, U.S. regulators have continued to apply the policy of threatening investigations and ruinous fines against banks that service "high-risk" customers in disfavored industries.

ALEXANDRIA, Va. — NCUA on Friday said it will host an in-person open forum for credit union stakeholders at the agency's Central Office from 10 a.m. until noon, Eastern Daylight Time, on Oct. 30.

NCUA staff is already working on a new regulation that would easing access to capital, something many CUs have suggested should have happened before — or at least the same time as — RBC was established.

Bankers are increasingly concerned that an optional cybersecurity assessment tool released by regulators this summer could soon become mandatory.

NCUA on Friday placed tiny Helping Other People Excel Federal Credit Union of Jackson, New Jersey, into conservatorship. The move comes on the heels of the CU being embroiled in an alleged Bitcoin money laundering scheme.

Financial instituitons are increasingly concerned that an optional cybersecurity assessment tool released by regulators this summer could soon become mandatory.

The Federal Reserve Bank of Chicago has promoted Shonda Clay to executive vice president and product manager, a role in which she will also support the Fed's faster payments initiative.