Reed urges the Fed to beef up reporting of synthetic risk transfers
Sen. Jack Reed, D-R.I., asked the Federal Reserve to require public reporting of synthetic risk transfers — also known as credit risk transfers, or CRTs — through bank call reports and systemic risk reports.
‘They need to kick the tires’: Karen Petrou on bank-fintech alliances
A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.
July community bank C-suite changes
New executives were lined up for lenders across the country, including Fremont Bank in California.
How a credit union is keeping track of members without coding
Ent Credit Union in Colorado is using automated customer relationship management software from Creatio to help improve its employee-facing data management systems without the need for computer programmers.
Treasuries surge as traders bet on emergency Fed rate cut
Bond traders now see a roughly 60% chance of an emergency quarter-point cut by the Federal Reserve within one week because of the market turmoil.
Bank stocks hit in global market rout
Shares in U.S. banks weren’t immune to a global market sell-off, as worries mounted over whether the U.S. economy’s recent resilience is faltering. The turmoil hit some tech stocks hard and led to the worst day for Japanese stocks since the 1980s.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | AUGUST 5, 2024 FDIC ISSUES LIST OF BANKS EXAMINED FOR CRA COMPLIANCE WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2024. […]
CFPB warning on whistleblower protection is a positive step
With the Consumer Financial Protection Bureau joining the growing list of top enforcement agencies recognizing the value in whistleblowing, companies should take heed and avoid any provisions in employment and severance agreements that in any way impede or penalize whistleblowers.
Banks want more fintechs regulated under CFPB open banking rule
The Consumer Financial Protection Bureau has received more than 11,000 comment letters on its proposal on personal financial data rights, but banks say the agency should ensure that more fintech partners take on their fair share of the rule’s compliance burden.
Banks should be allowed to continue selling to credit unions
When banks realize they are unable to continue their operations, a credit union is often a natural partner to consider.