The FDIC yesterday released updated videos on the Ability to Repay and the Qualified Mortgage rules. The updated videos provide bank management and compliance staff with resources to better help them understand the rule, and reflect changes in federal laws and regulations since their original release in 2014. Specifically, the updated videos reflect changes with respect to small creditors and operations in rural areas.
Survey: Financial institutions losing millions to AI-powered fraud
Slightly more than half of financial institutions said in a recent survey that they had lost between $5 million and...