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Tag Archives: finance
Regulation D
The Federal Reserve Board on Tuesday announced the annual indexing of the reserve requirement exemption amount and of the low reserve tranche for 2011. These amounts are used in the calculation of reserve requirements of depository institutions. The Board also announced the annual indexing of the nonexempt deposit cutoff level and the reduced reporting limit [...]
Volcker Rule
The Federal Reserve Board on Wednesday requested comment on a proposed rule to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that give banking firms a defined period of time to conform their activities and investments to the so-called Volcker Rule. The Volcker Rule generally prohibits banking entities from engaging in [...]
MyMoney Web Site
WASHINGTON – Today the Financial Literacy and Education Commission (FLEC) announced the launch of its redesigned financial literacy education website, www.MyMoney.gov. The new site has enhanced interactive features and utility to provide more resources to Americans seeking information that can inform their personal financial decisions. President Obama recently proclaimed April to be National Financial Literacy [...]
Corporate Stabilization Funds
May 13, 2010, Alexandria, Va. – To provide greater transparency among the two separate funds managed by the National Credit Union Administration, Chairman Debbie Matz said the NCUA Board in June will consider separating both the assessments and the timing of credit union payments for the National Credit Union Share Insurance Fund and the Temporary [...]
Prohibition Orders
Alexandria, Va., May 7, 2010 – The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution. Mia Frances Chaney, a former employee of Magnolia Federal Credit Union, Jackson, Mississippi, was convicted of bank fraud and sentenced to 12 months and a [...]
Corporate Credit Unions
April 9, 2010, Alexandria, Va. – Responding to questions after speaking to 800 officials at the Texas Credit Union League Annual Meeting in Grapevine, Texas, National Credit Union Administration Chairman Debbie Matz provided further insights into the future of the corporate credit union system. Matz predicted that some changes will result from NCUA’s rule to [...]
Financial Literacy Day
April 27, 2010, Alexandria, Va. – The National Credit Union Administration today highlighted NCUA and credit union industry efforts to enhance financial education during the annual Congressional Financial Literacy Day on Capitol Hill. U.S. Senators Daniel Akaka (D-Hawaii) and Michael Enzi (R-Wyoming) were honorary co-hosts of this year’s event, which was attended several hundred congressional [...]
Agreement to Reimburse Consumers
WASHINGTON — The Office of the Comptroller of the Currency (OCC) has entered into a settlement agreement with T Bank, N. A., Dallas, TX (Bank), that directs the Bank to make $5.1 million in restitution to over 60,000 consumers adversely affected by its relationships with a third party payment processor and several telemarketers and internet [...]
National Banks
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of March 15, 2010 through April 14, 2010. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible [...]
Regulation Q