The White House said yesterday that President Obama would nominate Adam Szubin to be Treasury under secretary for terrorism and financial intelligence. Szubin, who has been director of the Office of Foreign Assets Control since 2006, has been acting under secretary since David Cohen became a top official at the Central Intelligence Agency earlier this year.
Under the final rule, covered institutions may choose one of three options to comply with its requirements, including capping their overdraft fee at a flat $5.
CFPB Director Rohit Chopra said his agency will press forward with rulemakings even as federal banking agencies have paused their major initiatives until after President-elect Trump takes office.
The FDIC was ill-prepared to resolve large regional banks at the time of last year’s failures of Silicon Valley Bank and two other banks, the FDIC Office of Inspector General concluded in a new report.
FinCEN issued Spanish translations of an existing alert to financial institutions on a surge of check fraud schemes involving mail theft and an analysis of the problem.
The Consumer Price Index rose 0.3% in November after rising 0.2% the previous month, and increased 2.7% over the past year, the Labor Department said.
The acquisition of an NFL stadium’s naming rights by a credit union raises the question of why a large tax-exempt institution should have an advantage over its tax-paying competitors, according to a Wall Street Journal opinion column.
