President Obama yesterday named John Herrera to a vacant seat on the National Credit Union Administration board. Herrera is currently an executive at a community development financial institution. He previously served as a commissioner of the North Carolina Credit Union Commission and co-founder of a state-chartered Latino credit union. If confirmed, Herrera would take the seat vacated by Debbie Matz, who resigned as NCUA chairman in the spring.
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.
While there was a temporary stall in bank merger activity in early 2025 because of the economic fallout of tariffs and other Trump administration policies, overall quarterly deal announcements have held steady, according to a new analysis by...
The CFPB is proposing to stop using funds from its Civil Penalty Fund to finance consumer education and financial literacy programs, saying the practice created incentives for regulators to bring enforcement actions “for the purpose of aggrandizing the...
The Federal Open Market Committee announced that it will hold the target range for the federal funds rate at 4.25%-4.5%.
FAFT announced several revisions to its recommendation on payments transparency, which it said will enhance the safety and security of cross-border payments to better detect financial crime.
Privately-owned housing units authorized by building permits in May increased to a seasonally adjusted annual rate of 1.393 million, according to the U.S. Department of Commerce.
