Links in “Federal Reserve”
- Why the 3 Fed Board Nominees Could Be Bad News for Community Banks
The absence of a voice for community bankers on the Fed Board, which began when Elizabeth Duke stepped down in August 2013, would likely continue with any of the three administration-proposed appointments. Such could mean the âtoo big to failâ financial institutions would be able to further wield their political influence and access  to deflect regulation toward smaller banks. [1/17]
- Fed Survey: Consumer Expectations for 2014 Flat
New York's Federal Reserve Bank surveys customers and finds expectations fairly flat for inflation, prices, labor market and household finance. [1/15]
- $1.2 Million Fine Later: Bank Ignores Red Flags, Including Consumer Complaints About Unauthorized Withdrawals
A North Carolina bank ignores customer complaints about unauthorized withdrawals, a warning from an attorney general, and other red flags. The result? A $1.2 million settlement for allowing a third-party processor direct access to the Federal Reserve Bank to process debits against consumer accounts on behalf of fraudulent payday lenders, internet gambling organizations and an alleged Ponzi scheme. [1/10]
- Senate Approves Yellen as Fed Chief
By a 56-26 vote, the U.S. Senate approved Janet Yellen as head of the Federal Reserve, the first time a woman has held the position. Yellen takes over from Ben Bernanke Feb. 1. [1/7]
- 2013 Bright Spot: New Enforcement Orders Cut Nearly in Half
Fed Reserve, FDIC, and the OCC issued 149 new enforcement actions in 2013, a 47% decrease from 2012, when regulators issued a total of 281 actions. [12/30]
- Agencies Post Regulatory Approach for Qualified and Non-Qualified Mortgage Loans
Four federal financial institution regulatory agencies issued a statement to clarify safety-and-soundness expectations and Community Reinvestment Act (CRA) considerations related to qualified mortgage loans and non-qualified mortgage loans offered by regulated institutions. [12/16]
- Fed Publishes Standards for Third-Party Relationships
Fed offers guidance in the factors an institution should consider in hiring and supervising a service provider. [12/6]
- Regulator Criticizes Culture of Banks for Valuing Profits Over Relationships
Movement of banking industry away from customer relationships in favor of a "counterparty who is to be explored for their profit opportunity" is criticized by Fed Reserve of NY's general counsel. (No word on whether that could be attributed in some degree to regulatory pressures that seek to minimize relationship banking.) [11/26]
- Poll of Bankers: Yellen Nomination Good or Bad?
Poll of bankers on whether Janet Yellen's confirmation a-s Fed chair would be good or bad for banks. Here are the results. [11/25]
- NCUA Releases Video on New Liquidity Rule
NCUA has posted a new video on its YouTube channel that provides instruction on compliance with the agencyâs new liquidity and contingency funding rule. The liquidity and contingency funding rule requires credit unions with more than $250 million in assets to have access to NCUAâs Central Liquidity Fund, the Federal Reserve Boardâs Discount Window, or both. [11/19]
