Freddie Mac today reported a $475 million loss in the third quarter, down from a $4.2 billion profit in the second quarter of 2014 and marking Freddie’s first loss in four years.
The drop in Freddie’s income was largely due to derivatives losses, which totaled $4.2 billion. The company will not have to draw from the U.S. Treasury to cover its loss.
United Community Banks in Greenville, South Carolina, has agreed to buy ANB Holdings in Oakland Park, Florida.
ABA’s anti-phishing campaign for banks is finding fun ways to educate consumers about the scams, ABA EVP Paul Benda told NBC10 Boston for a recent news segment on the #BanksNeverAskThat campaign.
FHA announced that approved lenders will have 36 hours to report a “significant cybersecurity incident” to HUD instead of 12 hours, as was originally proposed.
Agencies published the third in a series of requests for public comment on reducing the regulatory burden for financial institutions, this time focusing on rules of procedure, safety and soundness, and securities.
The OCC issued version 1.1 of the “Unfair or Deceptive Acts or Practices and Unfair, Deceptive or Abusive Acts or Practices” booklet of the Comptroller’s Handbook.
A proposed accounting standards update on hedge accounting should be amended to align with the Financial Accounting Standards Board's risk mitigation goals, the American Bankers Association said in comments to the FASB.
