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Credit union acquisitions generating new headlines
The ICBA-opposed trend of tax-exempt credit unions acquiring taxpaying community banks generated a new round of headlines.
Lawmakers: CFPB’s medical debt proposal will make health care more expensive
Republican members of the House Financial Services Committee said the Consumer Financial Protection Bureau’s proposal to remove medical debt from credit reports will make health care more expensive...
FinCEN says it will only enforce willful beneficial ownership violations
Small-business owners doing their best to comply with beneficial ownership requirements should not lose sleep over the new reporting requirements, Financial Crimes Enforcement Network Deputy...
Fed: Instant payments require enhanced risk management
Banks moving to an instant payment environment need a strategy that considers fraud, liquidity, compliance, and third-party risks, according to a blog post from the Federal Reserve.
Lawmakers call on Gruenberg to resign or testify
Republican members of the House Financial Services Committee called on FDIC Chairman Martin Gruenberg to appear before the committee next month if he has not stepped down before then.
IRS forms coalition to combat growing scams
The Internal Revenue Service announced it has formed a coalition with state tax agencies and the tax industry to combat the growth of scams and schemes threatening taxpayers and tax systems.
FDIC publishes Q&As on official signage
The FDIC published questions and answers related to its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.
Credit unions use loopholes to undercut community banks: former exec
Credit unions use their tax-exempt status to weaken community banks and their capacity to meet the credit needs of local communities, according to a former credit union executive who now works for...