Regulatory & Compliance

Corporate Central Credit Union today announced it has achieved “well capitalized” status across all capital measures of the new NCUA corporate credit union regulations.

Key Republicans on the House Financial Services Committee are concerned that the Obama administration’s proposed settlement with mortgage servicers could require the servicers to write down mortgage principles in certain cases.

TCF National Bank, the financial institution which has taken the Federal Reserve to court over the debit interchange cap, lost roughly 250,000 checking accounts when it announced it would start charging a fee for checking accounts with balances of less than $500.00

Paradoxically, credit unions may need to act to increase debit transactions if a cap on debit card interchange makes it into federal regulation, a specialist on checking and debit maintains.

Community banks could lose money and consumers could have to pay higher fees if the Federal Reserve implements its debit interchange proposed rule as is, FDIC Chairman Sheila Bair wrote Federal Reserve Chairman Ben Bernanke.

Saying it will be the “start of a robust discussion,’’ on the set up of the Bureau of Consumer Financial Protection, House Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito announced an oversight hearing next Wednesday.