Tag: "FDIC"

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OCC, FDIC and Federal Reserve Regulation and Policy Changes (May 2014)

OCC, FDIC and Federal Reserve Regulation and Policy Changes (May 2014)

Financial services update June 2 2014 banking agency developments OCC to Rotate Examiners On May 28th, the Office of the Comptroller of the Currency (“OCC”) announced it will establish a formal rotation program for all examiners and formalize an enterprise risk management framework that will involve developing a risk appetite statement, creating a decision-tree process, […]

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CFPB reviewing Pre-paid Cards

CFPB reviewing Pre-paid Cards

Is that prepaid card actually a checking account? Prepaid cards are shaping up to be big business. According to the Consumer Financial Protection Bureau, a 2009 FDIC study found that nearly 10 percent of households use the cards, while the Mercator Advisory Group estimated growth to be 42 percent per year from 2010 to 2014. […]

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Hungry for Income, Banks Flirt With Payday Lending

FDIC and CFPB scrutinize Bank Payday Lending – 11/5/12

Hungry for Income, Banks Flirt With Payday Lending Seeking new income after federal rules limited fees from overdrafts and debit cards, Wells Fargo (WFC), U.S. Bancorp (USB), and other big banks are pitching short-term, high-cost loans that resemble the payday loans more commonly offered by strip-mall storefront operations. At least five banks are offering the […]