The Office of Thrift Supervision (OTS), along with other federal financial institution regulators1 and the FTC, have issued the attached FAQs to help financial institutions meet their responsibilities under the Identity Theft Red Flags and Address Discrepancies Rules and Guidelines ("Red Flags Rules/Guidelines"),...
Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address.
The Federal Reserve on Wednesday issued the first of an ongoing series of monthly reports providing considerable new information on its credit and liquidity programs.
Chairman Durbin, Ranking Member Collins, members of the Subcommittee, I appreciate the opportunity to testify before you for the first time as Treasury Secretary on the President's Fiscal Year 2010 Budget request for the Department of the Treasury.
The 10 banking organizations required by the Supervisory Capital Assessment Program to bolster their capital buffers have all submitted capital plans that, if implemented, would provide sufficient capital to meet the required buffer under the assessment's more-adverse scenario.
The federal bank and thrift regulatory agencies today announced the availability of the 2009 list of distressed or underserved nonmetropolitan middle-income geographies in which revitalization or stabilization activities will receive Community Reinvestment Act consideration as "community development."
Comptroller of the Currency John C. Dugan warned today that reverse mortgages pose significant compliance risks and said regulators should get out in front of this issue, before real problems develop, so that these loans are made "in a way that is prudent for both lenders and borrowers."
Bank of Lincolnwood, Lincolnwood, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with...
Chairman Dodd, Ranking Member Shelby, and all of the members of this Committee, I am honored to be before you today. First of all, I want to thank President Obama and Secretary Geithner for the trust they have shown in asking me to serve. I also want to thank you and your staff for the time you have spent with me,...
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Kentucky affected by recent severe storms, tornadoes, mudslides and flooding.
The FDIC today formally announced that development of the Legacy Loans Program (LLP) will continue, but that a previously planned pilot sale of assets by open banks will be postponed. In making the announcement, Chairman Bair stated, "Banks have been able to raise capital without having to sell bad assets through the...
Influenza Pandemic: Continued Focus on the Nation's Planning and Preparedness Efforts Remains Essential, by Bernice Steinhardt, director, strategic issues, before the Ad Hoc Subcommittee on State, Local, and Private Sector Preparedness and Integration, Senate Committee on Homeland Security and Governmental Affairs. ...
The U.S. thrift industry rebounded in the first quarter of 2009, reporting a loss of $47 million the best performance since September 2007, the Office of Thrift Supervision (OTS) reported today.
The Office of the Comptroller of the Currency will host a workshop for national community bank directors in Denver, Colorado, at the Westin Tabor Center, July 6-8, 2009.
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