Items Tagged with 'Board of Governors of the Federal Reserve System'

ARTICLES

  • Randal Quarles officially takes over as Fed’s point person on banking supervision

    Becomes Federal Reserve vice chairman for supervision
    After being confirmed last week in the Senate by a 65-32 margin, Randal Quarles officially took his place as a member of the Board of Governors of the Federal Reserve System on Friday. Quarles will also serve as the Fed’s vice chairman of supervision, a position that many consider to be the most powerful in banking.
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  • Feds announce 2017 list of distressed, underserved non-metro areas

    Banks can receive Community Reinvestment Act credit for working in these areas
    On Wednesday, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency announced the 2017 list of distressed or underserved non-metro areas where banks can receive Community Reinvestment Act credit for certain activities.
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  • Watchdog: The CFPB fails to properly secure confidential enforcement information

    The CFPB has a data security issue of its own
    The Consumer Financial Protection Bureau’s Office of Enforcement fails to properly secure sensitive, confidential information, leaving the data available to both employees that no longer needed access to the data and former employees who left the bureau, a watchdog report found. Here are the details.
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  • It's official: Risk retention rule approved

    Federal Reserve gives last and final approval
    The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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  • Federal regulators order big banks to fix “living wills”

    Bank of America, JPMorgan Chase, others told to fix bankruptcy plans
    "The living wills before us fail to fully acknowledge these issues and ignores other operational issues," said Thomas Hoenig, FDIC vice chairman. "They demonstrate little ability to cope adequately with failure without some form of government support. The economy would almost surely go into crisis."
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