ABA and four other trade groups representing banks and credit unions today called on the Consumer Financial Protection Bureau to release and accept comments on a draft survey as part of its proposed study of overdraft protection services. The bureau said it planned to conduct a survey of 8,000 individuals but did not release the draft survey with its proposal as federal guidance requires. For more information, contact ABA’s Jonathan Thessin.
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.
Consumer credit card delinquency rates for prime borrowers have not risen in the past two years despite higher interest rates as the Federal Reserve tightened monetary policy.
