OCC: 2014 Trading Revenue Improves
Commercial banks reported total trading revenue of $22.7 billion in 2014, 3 percent higher than in 2013, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.
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Judge Orders BHC to Produce Examination and Enforcement Documents
Does the federal bank examination privilege control whether a bank holding company must produce examination and enforcement documents?
CFPB Releases Customer Guide to Accompany TILA-RESPA Forms
The Consumer Financial Protection Bureau yesterday released a new toolkit to “help consumers take full advantage of the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in August.”
ABA Welcomes Proposed Rules for Small Creditors, Suggests Tweaks
ABA on Monday welcomed the Consumer Financial Protection Bureau’s proposed changes — many previously advocated by ABA — that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.
OCC: Mortgage Performance Continues Improving
Some 93.2 percent of mortgages were current and performing at the end of 2014, up slightly from 93 percent in the third quarter and up from 91.8 percent a year before, according to the Mortgage Metrics Report released on Friday by the OCC.
FFIEC Warnings Spotlight Malware, Compromised Credentials
The banking regulators today issued warnings to financial institutions about two “increasing” cyber threats: destructive malware and cyber attacks that compromise customers’ online credentials. The statements from the Federal Financial Institutions Examination Council do not contain any new regulatory expectations, the council said.
ABA Encourages Nominations for Powerful Women in Banking List
ABA is encouraging members to nominate women of outstanding achievement to the annual 25 Most Powerful Women in Banking and 25 Women to Watch lists.
ABA Endorses Digital Reverse Mortgage Platforms from Reverse Mortgage Funding
Through its Corporation for American Banking subsidiary, ABA today endorsed the reverse mortgage program from Reverse Mortgage Funding LLC.
Curry Highlights Role of Banks in Stopping Elder Fraud
Banks play a critical role in identifying financial fraud and protecting their older customers against related losses, Comptroller of the Currency Thomas Curry said in a speech Friday in Washington, D.C. He noted that bankers are helping to flag elder fraud by filing Suspicious Activity Reports with the Financial Crimes Enforcement Network, as well as by enhancing training and improving marketing and education materials to raise awareness of fraud schemes.
Keating Reviews ABA Summit Highlights for Bank CEOs
The banking industry is already seeing positive results from ABA’s Government Relations Summit last week, ABA President and CEO Frank Keating said in an email to all bank CEOs today.