Regulators pledge support for institutions in Hawaii’s wildfire zone
Banking and credit union regulators encouraged compassionate treatment of customers in Hawaii communities hit by wildfires. They also vowed to grant expedited approvals of temporary banking facilities, be flexible in compliance matters and provide other support to financial institutions.
Consumers favor spending rewards as credit card debt climbs
Consumers favor credit cards that offer better spending rewards and that card issuers should consider providing services to help their customers manage growing account balances, J.D. Power’s annual survey found.
Discover says it could long face consequences of compliance problems
The embattled credit card company, which is bracing for regulatory action, made clear Thursday that heavy spending on risk management and compliance will continue. Executives also said that the search for a permanent CEO will look at both internal and external candidates.
NIST unveils updated cybersecurity framework with new ‘govern’ pillar
The latest draft emphasizes integrating cybersecurity into core governance functions and broadens its scope beyond just critical infrastructure sectors. It also offers guidance on dealing with novel threats, such as newer strains of ransomware.
Joint Press Release: Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the Hawaii Wildfires
JOINT PRESS RELEASE | AUGUST 17, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationHawaii Department of Commerce and Consumer AffairsNational Credit Union Administration Office of the Comptroller of the Currency____________________________________________________________ Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the Hawaii Wildfires The Board […]
How credit unions are recruiting the next generation of talent
Many institutions are building internal development programs to lower the barriers of entry to more senior roles as aging leaders retire.
Press Release: FDIC Announces Chief Learning Officer and Corporate University Appointment
PRESS RELEASE | AUGUST 17, 2023 FDIC Announces Chief Learning Officer and Corporate University Appointment WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) Board of Directors appointed Dr. Felita Boldin to the position of Chief Learning Officer and Director of Corporate University (CU). Dr. Boldin will start her new position with the FDIC on September […]
Mortgage rates surge to highest mark since 2002
The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.
Regions Bank to shutter three mortgage-only branches
Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.
Fed hits FTX-backed Farmington State Bank with cease and desist
The small bank in eastern Washington State violated its commitment to regulators by helping the crypto company issue stablecoins. Earlier this year, the bank opted to dissolve itself.