The Office of the Comptroller of the Currency (OCC) announced today that it has entered into a Formal Agreement with Capital One Bank (USA), N.A., Glen Allen, VA ("Capital One"), directing Capital One to reimburse consumers harmed by Capital OneÂ’s credit card account closing practices. The practices in question...
The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to inform and assist the financial industry in reporting suspected instances of trade-based money laundering.
The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, released an updated edition of its white paper today on mortgage fraud detection and deterrence. The primary objective is to help examiners understand, identify, and detect mortgage fraud schemes and elements. The white paper...
The federal financial regulatory agencies and the Conference of State Bank Supervisors (the regulators) issued a statement today on prudent lending to creditworthy small business borrowers. The regulators recognize that small businesses play an important role in the economy and know that some are experiencing...
Chairman Baucus, Ranking Member Grassley and members of the Committee, thank you for the opportunity to appear before you today to discuss the President's Fiscal Year 2011 Budget.
Comptroller of the Currency John C. Dugan said today that a robust securitization market is vital to funding the needs of consumers and businesses, and urged policy makers to focus reform efforts on improving underwriting standards rather than "skin-in-the game" risk retention proposals.
As a part of the Administration's commitment to making tough choices and streamlining programs that work in order to lay the foundation for long-term economic growth, Treasury Secretary Tim Geithner today highlighted key components of the President's FY 2011 Budget intended to continue our nation down the path to...
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