Links in “Agencies”

NCUA announces the release of the latest version of the "Your Insured Funds" booklet with latest share insurance coverage information and new, easy-to-read format. [2/4]

FTC testifies before Senate Banking Committee on agency’s ongoing efforts to promote data security through civil law enforcement, education, and policy initiatives. Notes 50 data security settlements reached for unreasonable data security measures and related weaknesses. Expect increase on IT security for 2014. [2/4]

Orders against five employees with nearly $5 million in required restitution. Cases provide strong insights into transaction risk and monitoring for fraud and insider abuse. [2/3]

The Federal Housing Administration grants expanded authority to lenders to accept e-signatures on more loan documents, but stops short of allowing them on mortgage notes themselves. [2/3]

FinCEN provides two rulings associated with convertible virtual currency (i.e., Bitcoin). Rules note that self-"mining" for one's own purpose or purchasing and selling as investment for company's own benefit do not cross into definitional money transmitter under BSA. [1/31]

FHA steps toward industry standards and announces expanded authority for lenders to accept electronic signatures (e-signatures) on documents associated with mortgage loans including those for origination, servicing, and loss mitigation documents. [1/31]

Report highlights key problems in mortgage servicing industry including unfair practices with servicing transfers associated with modifications, improperly waiving consumer rights, poor payment processing and failing to provide correct information to consumer reporting agencies. [1/31]

OCC annual survey from largest FIs in the nation notes easing underwriting standards and increasing loan volume as banks reflect increasing risk appetite amidst greater market liquidity. Some tightening in underwriting standards were noted in high LTV home equity and conventional home equity. [1/31]

CFPB initiates proceedings against PHH alleging harm to consumers through a mortgage insurance kickback scheme dating back to 1995. CFPB will seek civil fines, an injunction and restitution. [1/30]

The $1.4 billion 114,000 member 13-branch Texans Credit Union—which was placed into conservatorship in 2011—is regaining financial strength, shedding $200 million in distressed assets and increasing net worth ratio to 3.64% at year-end. [1/29]