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FinCEN official: Beneficial ownership reporting only takes 20 minutes to complete

Jul 16, 2024 | NewsWatch Today
Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said most companies should be able to file beneficial ownership information reporting quickly and without the help of an attorney or accountant.

FDIC holding second signage webinar for bank officers

Jul 16, 2024 | NewsWatch Today
The FDIC this month is scheduled to hold the second of four webinars for bank officers and employees on its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.

Comments on FHLBank system mission review due today

Jul 15, 2024 | NewsWatch Today
Today is the deadline for community bankers and others to submit comments on the Federal Housing Finance Agency’s request for input on the mission of the Federal Home Loan Bank System.

Fed researchers: Banks that share name with failed institutions experience loss of business

Jul 15, 2024 | NewsWatch Today
Federal Reserve researchers said banks that share their name with a failed bank experience a half-percent drop in transaction deposits relative to banks with similar characteristics but different names.

AT&T discloses customer data breach

Jul 15, 2024 | NewsWatch Today
AT&T released a statement on unauthorized access of customer data from a third-party cloud platform.

FDIC nominee: Community banks are the lifeblood of many communities

Jul 12, 2024 | NewsWatch Today
The Biden administration’s nominee for FDIC chair—Christy Goldsmith Romero—told Congress she gained a great appreciation for community banks during her time at the Office of the Special Inspector General for the Troubled Asset Relief Program.

FHFA releases VantageScore 4.0 credit scores

Jul 12, 2024 | NewsWatch Today
The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are making historical VantageScore 4.0 credit scores available to approved users to support the transition to updated credit score and credit report requirements.

Input on FHLBank system mission review due Monday

Jul 12, 2024 | NewsWatch Today
Monday is the deadline for community bankers and others to submit comments on the Federal Housing Finance Agency’s request for input on the mission of the Federal Home Loan Bank System.

Megabank group urges IG to investigate community bank assessment exemption

Jul 11, 2024 | NewsWatch Today
The Bank Policy Institute called on the FDIC Office of the Inspector General to investigate the FDIC’s recent special assessment, which exempted the vast majority of community banks.

Comptroller lauds ICBA’s check fraud efforts

Jul 11, 2024 | NewsWatch Today
Acting Comptroller of the Currency Michael Hsu highlighted the formation of ICBA’s Check Fraud Task Force as an important step in addressing financial fraud.

CFPB proposes mortgage servicing rule

Jul 11, 2024 | NewsWatch Today
The Consumer Financial Protection Bureau issued a proposed rule to amend mortgage servicing rules under Regulation X.

CFPB says it will consider eliminating credit card late fee safe harbor

Jul 10, 2024 | NewsWatch Today
The Consumer Financial Protection Bureau said it plans to assess whether to eliminate the credit card late fee safe harbor under Regulation Z.