Agencies Issue 2025 Regulation CC Cost of Living Adjustments
May 14, 2024 · The announced adjustments are effective July 1, 2025 On May 13, 2024, the Consumer Financial Protection Bureau (the Bureau) and the Federal Reserve Board (the Board) jointly announced a final rule-making cost of living adjustment (COLAs) for the Regulation CC funds availability rules. The Bureau and...
CFPB Finalizes Rule on Popular Digital Payment Apps to Protect …
Nov 25, 2024 · The Consumer Financial Protection Bureau (CFPB) has finalized a rule to supervise the largest non-bank companies offering digital funds transfer and payment wallet apps.. The rule will help the CFPB to ensure that these companies — specifically those handling more than 50 million transactions per year — follow federal law just like large banks, credit unions and other financial ...
CFPB Report Details Student Borrower Harms from Servicing …
Nov 18, 2024 · The Consumer Financial Protection Bureau (CFPB) today released the annual report of the CFPB Student Loan Ombudsman, highlighting the severe difficulties reported by student borrowers due to persistent loan servicing failures and program disruptions.. The report details how millions of student borrowers have received relief through new income-driven repayment plans, cancellation programs, and ...
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EVENTS » APRIL 24-25: UNIVERSITY OF CHICAGO BOOTH GLEACHER CENTER: CHICAGO, IL Banking Exchange Annual RDP: Risk, Data and Payments Celebrating Ten Years of Publishing 20 Banks Over $50 Billion in Assets 20 Banks Under $50 Billion in Assets
Bank Leaders Expect Merger Activity to Accelerate in 2025
Dec 2, 2024 · Nearly half of bank leaders believe their institutions will buy another bank in 2025, suggesting a potential uptick in merger activity in the coming year, according to a new survey on M&A by Bank Director.. Forty-three percent of bank leaders said their institutions were very or somewhat likely to buy another bank next year, up from 35% …
AI Could Save $3.13 Trillion in Money Laundering
Oct 30, 2024 · Global economies can use AI to prevent and detect money laundering and terrorist financing Global economies could save $3.13 trillion by using AI to prevent and detect money laundering and terrorist financing, according to Napier AI. The Napier AI / AML Index revealed that the US stands to gain the...
US Could Lose all Bank Branches by 2041 - Banking Exchange
Sep 16, 2024 · There has been an average of 1,646 branch closures each year Physical bank branches could be extinct in the US by 2041, according to a new report by Self Financial. Since 2018, there has been an average of 1,646 branches closing each year in the US. California saw the most closures, losing 1,114 phy...
FHA Permanently Removes Face-to-Face Meeting ... - Banking …
Aug 5, 2024 · Making permanent a key Covid-era change The Federal Housing Administration (FHA) has permanently waived the requirement for mortgagees to meet face-to-face with borrowers who are in default, making permanent a key Covid-era change. On August 2, the FHA released a final rule eliminating the requireme...
NOLs in acquisitions … simplified! - Banking Exchange
Apr 2, 2015 · Jeff Gerrish is chairman of the board of Gerrish Smith Tuck Consultants, LLC, and a member of the Memphis-based law firm of Gerrish Smith Tuck, PC, Attorneys.He frequently contributes to Banking Exchange and frequently speaks at industry events.. In mid-2016 Gerrish's blog received a national bronze excellence award from the American Society of Business Publication Editors.
Loan participations: Proceed with caution - Banking Exchange
Jan 19, 2017 · The purchase and sale of participations in commercial mortgage loans is a fixture of real estate lending, allowing the original lending institution to enhance liquidity and pursue additional financing opportunities while spreading its risk.