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Posted Date: Tuesday, March 12, 2024
Economists are increasingly confident that the first federal funds rate cut since 2020 could happen as flowers are blooming in the late spring and early summer. This aligns with what Mortgage Bankers Association Chief Economist Michael Fratantoni suggested during October Research’s 2024 Economic Forecast webinar in January. Read on »
Posted Date: Tuesday, March 5, 2024
The
Federal Reserve’s 2024 hypothetical stress test scenarios are the first to incorporate
elements the agency is studying as part of its “exploratory analysis” of the
banking system. The analysis is distinct from the stress test but will
complement it by offering aggregate results tested against different economic
and financial conditions. Read on »
Posted Date: Friday, February 23, 2024
The Federal Reserve recently entered into a written agreement with Peoples-Marion Bancorp, Inc. Through a partnership with the Kentucky Department of Financial Institutions (KDFI), the Fed ordered the company to address multiple deficiencies related to the institution’s safety and soundness and remediating apparent legal and/or regulatory violations. Read on »
Posted Date: Friday, February 23, 2024
The financial industry is pushing back against the Federal Deposit Insurance Corp.’s proposed updates to corporate governance guidelines aimed at preventing bank failures like those in spring 2023. The guidelines would apply to banks with more than $10 billion in assets. Read on »
Posted Date: Tuesday, February 20, 2024
The Consumer Financial Protection Bureau recently announced its efforts to provide relief to consumers victimized by an illegal student loan debt-relief operation. Learn more about this matter, as well as what new information the Federal Deposit Insurance Corp. has to share in its latest update on the ongoing independent investigation into its workplace culture, along with news from the Federal Housing Finance Agency and the Federal Reserve. Read on »
Posted Date: Tuesday, February 6, 2024
The Department of Justice charged a former Bank Secrecy Act (BSA) compliance officer with criminal BSA violations for his role in a scheme to bring more than $1 billion in high-risk international financial business to a small, now-defunct credit union. The Treasury’s Financial Crimes Enforcement Network ordered the defendant to pay a $100,000 civil money penalty as well. Read on »
Posted Date: Tuesday, February 6, 2024
The Senate Banking Committee explored concerns about the risks posed by fraudsters and cyber criminals who target financial institutions during a recent hearing on the prevalence of ransomware attacks, phishing attacks, check fraud, spoofing and other common types of fraud, as well as the methods used to execute them. Read on »
Posted Date: Friday, February 2, 2024
The Federal Reserve once again left interest rates where they have been – in the target range between 5-1/4 to 5-1/2 percent – following the Jan. 31 meeting of the Federal Open Market Commission, pointing to recent indicators suggesting economic activity is expanding at a “solid” pace. Inflation will be the key determining factor for future changes to the target range changes. Read on »
Posted Date: Tuesday, January 30, 2024
Regulatory bodies charged with ensuring financial stability, both domestically and globally, have unveiled their priorities for the year. Many of these should not come as a surprise to those familiar with the most significant matters concerning financial markets over the past year. Read on »
Posted Date: Friday, January 19, 2024
Delving into the complex realm of bank capital policy, Federal Reserve Gov. Michelle Bowman stressed the importance of striking the right balance on the tradeoffs between industry perspectives and policy decisions during the “Protect Main Street” event, sponsored by the Center for Capital Markets. Read on »
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