Search Results: Links
February 20 – The federal bank regulatory agencies requested comment on a second set of regulatory categories as part of their review to identify outdated or unnecessary regulations applied to insured depository institutions.
February 12 – The U.S. Small Business Administration (SBA) is launching an 18 state road tour, joined by 11 fellow federal agencies in the SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
February 12- The Federal Deposit Insurance Corporation (FDIC) has issued a Financial Institution Letter encouraging supervised institutions to take a risk-based approach in assessing individual customer relationships, rather than declining to provide banking services to entire categories of customers without regard to the risks presented by an individual customer or the financial institution’s ability to manage the risk.
February 4 – The Federal Deposit Insurance Corporation has 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 November 2014. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990.
January 23 – The Consumer Financial Protection Bureau released a report finding that almost half of consumers do not shop around for a mortgage when purchasing a home. The report also found that informed consumers are more likely to shop, especially if they are familiar with available mortgage rates. As part of its Know Before You Owe mortgage initiative, the CFPB is releasing “Owning a Home,” an interactive, online toolkit designed to help consumers as they shop for a mortgage. The suite of tools gives consumers the information and confidence they need to get the best deal. Continue reading “Half of Homebuyers Do Not Shop for Mortgages, Says CFPB” »
January 22 – The Consumer Financial Protection Bureau and the Maryland attorney general have taken action against Wells Fargo and JPMorgan Chase for an illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company. Continue reading “Wells Fargo, JPMorgan Fined for Kickback Scheme” »