House Passes ABA-Backed Bill on Operational Risk Capital
In a bipartisan 245-169 vote, the House last night voted to pass the ABA-backed H.R. 4296.
In a bipartisan 245-169 vote, the House last night voted to pass the ABA-backed H.R. 4296.
Confirming that the U.S.’ Southwest border is at high risk for money laundering activity, the Government Accountability Office found in a recent review that bank branches in that region filed more than twice as many Suspicious Activity Reports than banks in other high risk areas.
Nearly a month after Sen. Orrin Hatch (R-Utah) wrote to the National Credit Union Administration questioning the federal tax exemption for the largest credit unions, one credit union CEO today agreed that the time is now to explore taxation for those institutions.
Consumer Financial Protection Bureau Acting Director Mick Mulvaney today echoed his previous comments that the CFPB will no longer “push the envelope” with respect to enforcement actions, adding that instead, he envisions a supervisory body that is “mild” but “certain.”
Tailoring regulation based on an institution’s size and risk profile is “at the heart of what we’re doing” at the Federal Reserve, Chairman Jerome Powell affirmed today during testimony before the House Financial Services Committee.
FDIC-insured banks and savings institutions earned $25.5 billion in the fourth quarter, down 40.9 percent from the industry’s earnings a year before, the FDIC said yesterday.
The Conference Board Consumer Confidence Index increased 6.5 points to 130.8 in February. Last month’s index was downwardly revised from 125.4 to 124.3. The Present Situation Index increased 5.7 points to 162.4 after falling 2.2 points last month. The Expectations Index surged 5.7 points to 109.7. “Consumer confidence improved to its highest level since 2000
New orders for manufactured durable goods decreased 3.7% in January to $247.0 billion, following a 0.5% December rise, according to the U.S. Census Bureau. Transportation equipment drove the decrease, falling 10.0% to $77.7 billion over the month. New orders excluding defense declined 2.7% on the month, while orders of nondefense capital goods slipped 1.5% to
The Federal Reserve will increase its focus on potential secondary cybersecurity risks posed by efforts to prepare for cyber threats, Fed Vice Chairman for Supervision Randal Quarles said at an industry event today.
The Consumer Financial Protection Bureau’s Consumer Advisory Board will hold two subcommittee calls in the coming weeks, both of which are open to the public.