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Community Banks and Credit Unions |
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Results 1 - 10 of 1192 |
Posted Date: Wednesday, March 22, 2023
Following the collapse of three U.S. regional banks earlier this month, banks and regulators in the United States, United Kingdom, and the European Union took a series of emergency measures to prevent a ripple effect that could be catastrophic for the banking sector and the global and U.S. economies.
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Posted Date: Wednesday, March 22, 2023
In an opinion piece, Consumer Bankers Association President and CEO Lindsey Johnson called on Congress to begin the process of reforming the Consumer Financial Protection Bureau and engaging in greater oversight of the bureau. Johnson criticized the bureau for being “increasingly motivated by politics and headlines as opposed to data and industry input.”
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Posted Date: Wednesday, March 22, 2023
Rep. Maxine Waters (D-Calif.) proposed legislation to increase the federal government’s clawback authority following the collapse of Silicon Valley and Signature.
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Posted Date: Monday, March 20, 2023
The House Financial Services Committee, subcommittee on financial institutions and monetary policy, led by Rep. Andy Barr (R-Ky.), held a hearing to discuss proposed reforms for the Consumer Financial Protection Bureau. The subcommittee heard testimony from legal and industry experts who suggested an array of changes that could be made to the bureau and its operations.
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Posted Date: Monday, March 20, 2023
The Independent Community Bankers of America (ICBA) elected a new chair for the 2023-2024 term beginning March 16 at the conclusion of ICBA’s national convention.
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Posted Date: Tuesday, March 14, 2023
California-based Silvergate Bank, which gained some notoriety as an early participant in crypto investment and transactions, announced it plans to voluntarily liquidate and wind down its business.
Less than a week later, Silicon Valley Bank collapsed after announcing a $1.8 billion loss that would potentially make it unable to meet depositor needs. This was followed closely by New York-based Signature Bank, which was shuttered by state regulators.
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Posted Date: Tuesday, March 14, 2023
Sen. Sherrod Brown (D-Ohio), chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Acting Comptroller Michael Hsu asking the Office of the Comptroller of the Currency to apply greater scrutiny to banks that are closing branches in low- and moderate-income areas.
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Posted Date: Friday, March 10, 2023
The Consumer Financial Protection Bureau released a special edition of its supervisory highlights report which looks specifically at “unlawful junk fees” in different areas of the consumer financial services sector. Specifically, the bureau looks at the role fees place in deposit accounts and multiple loan servicing markets.
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Posted Date: Monday, March 6, 2023
The House Financial Services Committee passed the Data Privacy Act of 2023 during its first markup of the new congressional term. The legislation, introduced by committee Chair Patrick McHenry (R-N.C.), seeks to modernize financial data privacy laws and provide consumers with greater control over how their personal information is collected and used.
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Posted Date: Tuesday, February 21, 2023
The latest National Defense Authorization Act, which was signed into law in December 2022, included the Fair Hiring in Banking Act, which modified section 19 of the Federal Deposit Insurance Act. Section 19 restricts certain individuals with criminal records from attaining employment with financial institutions.
These modifications further narrow the convictions which constitute a bar to employment and reduce the time after some convictions before an individual can seek employment in the financial sector.
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