Huntington, JPMorgan Chase closed accounts at up to 30 West Virginia, Ohio credit unions, their corporates say.
Inspector General says community banks did not sufficiently use bailout money to increase lending to small businesses.
Checks to range from $300 to $125,000 as result of enforcement actions against 13 servicers, including the nation's largest banks.
Comptroller of Currency now heads joint regulatory council for two-year term.
A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.
Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.
Thirteen institutions expected to also undertake loss mitigation efforts focused on foreclosure prevention in OCC/Fed settlement.
Experts have been quick to weigh in with opinions on the usefulness of NCUA’s counsel.
The NCUA won’t require credit unions to adopt Basel III capital requirements, said director of Examination and Insurance Larry Fazio. However, as required by statute, he said the federal regulator will have to require credit unions maintain capital that is “comparable” what other regulators enforce.
Agency working on credit union version of Basel III.