Links in “Banks”

Fannie Mae and Freddie Mac are updating their servicing guides to ensure compliance with new rules, including changes in loss mitigation, foreclosure procedures, and the borrower-appeal process. New rules prohibit servicer from mentioning foreclosure earlier than 121 days into delinquency. [10/15]

22 banks have shuttered thus far in 2013, compared to 43 the same time last year. [10/15]

The huge penalties are only the tip of the iceberg for JPMorgan, which takes a $7.2 billion charge for legal expenses. [10/15]

In a survey of directors and executive management, regulatory compliance burden is the second greatest concern, sandwiched between margin compression and loan competition. [10/14]

Rather than fostering an environment where private decision-making and influencing management happens away from the boardroom, collegiality stresses encouraging trust and an environment where board members to voice their decisions fully. [10/14]

$3.6-billion Community Trust Bancorp discloses the Fed Reserve is preparing to fine it for unfair and deceptive methods of assessing overdraft fees. [10/14]

CFPB resists the suggestion that it is building databases that contain personal data or profiles on individuals, but identifies 11 companies with whom it has contracts for purposes of purchase, collection, analysis and storage of data and spent a little over $7 million on it in FY 2012. [10/11]

The start-stop nature of this recovery seems unlikely to be helped by the government shutdown. [10/11]

With the three-year statute of limitations running out on banks that failed in 2010, a "banner year" for bank failures, FDIC's lawyers have switched into high gear. [10/11]

Article takes a look at some of the complexities of Section 215.4(e) of Regulation O, which prohibits a bank from paying an overdraft on a deposit account of an executive officer or director of the bank. [10/10]