FDIC Approves Final Rule Simplifying Deposit Insurance for Trust, Mortgage Servicing Accounts
The FDIC today approved a final rule to simplify deposit insurance calculations for revocable trusts, irrevocable trusts and mortgage servicing accounts.
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FFIEC Modernization Project Yields Best-Practice Recommendations
The Federal Financial Institutions Examination Council issued a statement of principles on examination information requests.
ABA Data Bank: ABA Economic Advisory Committee Forecasts Interest Rates to Rise, Inflation to Slow in 2022
The ABA Economic Advisory Committee consensus forecast anticipates softer, though still elevated, inflation in 2022 along with three 25 basis point rate increases from the Federal Reserve.
ABA, Trade Groups: HMDA Compliance Costs, Burdens Remain High
As the CFPB undertakes its planned assessment of the 2015 Home Mortgage Disclosure Act regulations…
Trade Groups: ALI Restatement of Law Could Have Implications for Customer Contracts
The American Bankers Association this week joined a group of other trade associations and companies in a letter to the American Law Institute Council opposing a proposed restatement of the law for consumer contracts.
CFPB Signals Intention to Scrutinize Credit Card Fees, Practices
In a new blog post this week, the CFPB said it is “looking to use a long-dormant authority” under Dodd-Frank Act Section 1033, which relates to consumer access to financial records, “to help spur better credit card shopping and switching by proposing rules that give consumers more control of their financial data.”
Fed Paper Highlights Risks, Potential Benefits of a U.S. CBDC
The Federal Reserve today issued a highly anticipated report assessing the potential benefits and risks of creating a U.S. central bank digital currency, or CBDC.
Ag Secretary Discusses Farming and Rural Economy During House Hearing
Department of Agriculture Sec. Tom Vilsack testified before the House Agriculture Committee on the state of the rural economy and the upcoming reauthorization of the farm bill.
Existing Home Sales Decline in December
Existing-home sales fell 4.6% in December to a seasonally adjusted annual rate of 6.12 million,…
Survey: Community Banks Keeping Branches Open
Community banks are keeping bank branches open, with 84% responding to a recent survey that they have not closed a single branch in the past 12 months.