Compliance

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed.

Many in the industry support the National Credit Union Administration’s attempts to streamline regulations governing corporate credit unions, but critics claimed some elements could make it tougher to compete with fintechs.

In the same manner as its previous plans for a fintech charter, the Office of the Comptroller of Currency is getting some pushback from banking trade groups on its idea to establish a payments charter.

Legislation that would force transparency around company ownership would be better than another burdensome anti-money-laundering rule.

Republicans and Democrats are negotiating a new coronavirus stimulus package, but there’s still no law on the books designed to erase the problems that prevented many stimulus payments from getting directly to recipients.

The bill, backed by the New York Credit Union Association, has cleared the Senate, but a companion bill is stuck in committee in the Assembly.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.

Kyle Hauptman pledged to focus on capital reform and expanding access for the underserved if confirmed to the credit union regulator's board, but one senator questioned whether the nominee was even qualified to serve.

Eric Grover, principal at Intrepid Ventures, talks to PaymentsSource senior editor Kate Fitzgerald about how the high-flying German fintech fell to scandal — and whether it could happen again.

The credit union regulator revised its summary of what examiners will focus on to reflect legal and regulatory changes that have taken place since the COVID-19 outbreak began.

Unity Bancorp must improve its policies and procedures and increase staff training on following Bank Secrecy Act and anti-money-laundering laws.

Regulators can only delay the move to a new interest rate index alternative for so long.

The most recent legislative push to mandate cash is bipartisan at the outset, but there are divisions over how to put this plan into effect.

Among other changes, the law allows state regulators to accept NCUA examination results in lieu of exams from local regulators.

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

The credit union regulator has not yet announced an agenda, but the meeting could potentially include mattes related to field of membership and risk-based net worth.

An obscure-sounding statistic gives a fresh look at how dramatic the move to digital finance has been the past few months — and how permanent the move will be.

The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs.

The Consumer Financial Protection Bureau's leadership structure could be set for a revamp, but there may be political reasons for both parties to maintain the status quo. Either option could prove problematic for the industry.