Exam bill in Congress gains support
The MBA and ABA-supported exams bill (H.R. 3461) continues to gain cosponsors. An additional 11 Members have signed onto the bill, bringing the total to 78 – 62 Republicans and 16 Democrats. Missouri Congressman Todd Akin has signed on as a co-spon
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FDIC Systemic Resolutions Advisory Panel holds second meeting
The FDIC Advisory Committee on Systemic Resolutions discussed a range of issues related to winding down systemically important financial companies during its second meeting on Jan. 25. Panel members heard presentations on options for potential resol
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Financial stress edged down in December
Financial stress edged down in December, according to the Kansas City Financial Stress Index released Jan. 9 by the Federal Reserve Bank of Kansas City. Despite the decrease, the index remained above its long-run average of zero for the fifth consec
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Washington University professor believes there's a better way than CFPB
There's a better way to help banking customers than the new Consumer Financial Protection Bureau (CFPB) that opened for business July 21, says a banking expert at Washington University in St. Louis.“I’m a big advocate of consumer protection and of t
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Fed, FDIC issue final rules implementing Reg Q repeal
The Federal Reserve and FDIC has issued separate final rules to implement the Dodd-Frank Act-mandated repeal of the prohibition against paying interest on demand deposits that becomes effective July 21. The Fed issued a final rule that repeals its R
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FDIC issues notice of proposed assessment rate adjustment guidelines
On April 12, 2011, the FDIC Board of Directors (FDIC Board) authorized publication of the attached proposed guidelines describing the process that the FDIC would follow to determine whether to make an adjustment to the score used to calculate the as
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Address change for FDIC's Consumer Response Center
The Federal Deposit Insurance Corporation has announced a change in address for its national Consumer Response Center (CRC) within the Division of Depositor and Consumer Protection. The address change requires all FDIC-supervised financial instituti
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S.A.F.E. Act registration begins
The federal agencies announced on Jan. 31 that the Nationwide Mortgage Licensing System and Registry is accepting federal registrations.Under the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) and the agencies' final rules, re
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NFCC announces Annual National Financial Literacy Poster Contest
The National Foundation for Credit Counseling (NFCC) is sponsoring the Be Money Wi$e National Financial Literacy Poster Contest for 2011. The contest is designed to get students thinking about how to manage money effectively and offers them a creati
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S.A.F.E. Act implementation expected Jan. 31
The FDIC issued Financial Institution Letter FIL-1-2011 on Jan. 4 announcing that the federal agencies expect the system for federal registration of mortgage loan originators (MLOs) to begin operation on or around Jan. 31, 2011. The Agencies’ rules
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