Delinquencies in closed-end loans and bank cards rose slightly in last year’s fourth quarter but remain near record lows, according to the ABA Consumer Credit Delinquency Bulletin that was released today.
Circuits are split on the constitutionality of laws prohibiting merchants from imposing a surcharge on customers for using a credit card.
The Federal Reserve should withdraw its proposed capital surcharge for the largest U.S.-based global systemically important banks, ABA said in a comment letter Friday.
The OCC on Friday released revised and reorganized guidance for subordinated debt issued by national banks and federal savings associations.
Responding to concerns from ABA and others, the Federal Reserve, FDIC and OCC announced today that moving forward, their once-a-decade regulatory review will be expanded to include recently issued final regulations, which were previously excluded from the EGRPRA review.
The Consumer Financial Protection Bureau released a report on Monday on consumer complaint trends in 2014. While complaint volume rose 53 percent from 2013 to 2014, the steady monthly increase in 2013 tapered off in 2014, averaging about 20,000 per month.
Comptroller of the Currency Thomas Curry today urged Congress to pass ABA-supported legislation that would provide federal savings associations with more flexibility to serve their customers while retaining their unique charter.
President Obama today issued an executive order that authorizes the Treasury Department to impose financial sanctions on foreign cyber attackers — both individuals and corporate entities.
An investigative story in today’s issue of Willamette Week, a newspaper in Portland, Oregon, critically examined whether Oregon’s credit unions are serving individuals of modest means.
The Financial Accounting Standards Board has approved an exposure draft that would defer the effective date of its new revenue recognition standard by one year.