FTC Testifies on Efforts to Protect Consumer PrivacyMay 10, 2012 – The Federal Trade Commission (FTC) testified before Congress about the agency’s efforts to protect consumer privacy, including the FTC’s support for implementation of a “Do Not Track” mechanism that would allow consumers to... Donald H. Layton Named CEO of Freddie MacMay 11, 2012 – Freddie Mac announced that its Board of Directors has appointed Donald H. Layton as chief executive officer and has elected him as a member of the Board of Directors. States Continue Long Recovery from the Great RecessionMay 4, 2012 – The National Conference of State Legislatures (NCSL) has released its “State Budget Update: Spring 2012” report, which shows that revenue performance remains positive, expenditures in most states are stable and few states have faced... FHLBanks Announce New $3 Billion 5-Year GlobalMay 2, 2012 – The Federal Home Loan Bank System announced a new $3 billion 5-Year Global bond this week. Lead managers for this issue will be Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and ... April 2012 U.S. Economic And Housing Market OutlookApril 26, 2012 -- Freddie Mac released its U.S. Economic and Housing Market Outlook for April showing that recent employment and housing data may be more noise than a break in momentum due to the unseasonably warm winter. Timothy Siwy Named NMLS Ombudsman April 11, 2012 – Timothy M. Siwy, Acting Deputy Secretary of Non-Depository Institutions and Consumer Services for the Pennsylvania Department of Banking, has been named NMLS Ombudsman. Regulators Panel Explores Banker-Regulator Tensions April 9, 2012 – Michael Stevens, senior executive vice president of the Conference of State Bank Supervisors, shares insight into regulator-banker dynamic during interview with Federal Reserve Bank of Atlanta. Obama Administration Releases March Housing ScorecardApril 9, 2012 – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the March edition of the Obama Administration’s Housing Scorecard – a comprehensive report on the nation’s housing market. 30-Year Fixed-Rate Mortgage Ticks Down to 3.98 PercentApril 5, 2012 – Freddie Mac has released the results of its Primary Mortgage Market Survey, showing average mortgage rates changing little from the previous week with the average 30-year fixed-rate mortgage (FRM) ... Idaho Governor Proclaims April “Financial Literacy Month"April 3, 2012 – Idaho Governor C.L. “Butch” Otter has signed a proclamation establishing April as “Financial Literacy Month” and the Idaho Department of Finance, the Idaho Financial Literacy Coalition have joined together to sponsor ... ICBA: April is Community Banking MonthApril 3, 2012 -- April is Community Banking Month, and the Independent Community Bankers of America (ICBA) and its nearly 5,000 community bank members are encouraging consumers ... Refinance Applications Drop for Sixth Consecutive WeekMarch 28, 2012 – Mortgage applications decreased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 23, 2012. Agency Calls on Companies to Adopt Best Privacy PracticesMarch 26, 2012 – The Federal Trade Commission issued a final report setting forth best practices for businesses to protect the privacy of American consumers and give them greater control over the collection and use of their personal data. FHFA House Price Index Unchanged in JanuaryMarch 22, 2012 – The Federal Housing Finance Agency reports the U.S. house prices were unchanged on a seasonally adjusted basis from December to January, according to the agency’s monthly House Price Index. State Regulators Appoint John P. Ducrest to FSOC March 21, 2012 – State banking supervisors have appointed John P. Ducrest, Commissioner of the Louisiana Office of Financial Institutions (OFI) and Chairman of the Conference of State Bank Supervisors (CSBS), to serve on the ... OCC Reports Fourth Quarter Trading Revenue of $2.5 BillionMarch 21, 2012 – Commercial banks reported trading revenue of $2.5 billion in the fourth quarter of 2011, 70 percent lower than revised third quarter revenues of $8.5 billion, and 27 percent lower than in the fourth quarter of 2010 ... Twin Falls Senior Scam Jam Conference March 20, 2012 – Gavin Gee, director of the Idaho Department of Finance (Department) announced that the department is co-sponsoring a FREE Senior Scam Jam conference in Twin Falls on March 29, 2012. Michael Poland Named to CSBS Bankers Advisory Board March 20, 2012 – Michael Poland, President and CEO of Farmers State Bank of Cameron, Missouri, has been named to a two-year term as an at-large member of the Bankers Advisory Board (BAB) for the Conference of State Bank Supervisors (CSBS). OCC Issues Final Semi-Annual Cost of Funds ReportsMarch 15, 2012 – The OCC today issued its final cost of funds reports, which provide information about funding costs covering the six-month period ending December 31, 2011, for institutions formerly regulated by the Office of Thrift Supervision (OTS). FinCEN Reports Going PaperlessFebruary 24, 2012 – In an effort to improve efficiency, reduce government and industry costs, and enhance the ability of investigators, analysts, and examiners to gain better and more timely access ... FinCEN Releases Test Site for the New CTR and SARFebruary 21, 2012 – The Financial Crimes Enforcement Network (FinCEN) has updated the BSA E-Filing System’s User Test System Web site to allow for testing submissions of batch and computer-to-computer filings of FinCEN’s new ... Housing Expected to Add to GDP for First Time in Seven YearsFebruary 21, 2012 – Economic growth picked up in the fourth quarter of 2011 to 2.8 percent and is expected to come in at 2.3 percent for 2012, up from 1.6 percent growth for all of last year, according to Fannie Mae’s Economic & Strategic Research Group. Minnesota joins national mortgage settlement February 9, 2012 – Minnesota Attorney General Lori Swanson and Commissioner of Commerce Mike Rothman today jointly announced Minnesota’s participation in a national mortgage settlement through which ... OFIR Warns Consumers over Financial Phishing February 8, 2012 -- The Office of Financial and Insurance Regulation (OFIR) warned Michigan consumers of several different types of phishing scams related to financial institutions and transactions. CSBS Announces New Initiative to Develop Uniform MLO State February 8, 2012 -- The Conference of State Bank Supervisors (CSBS) and its affiliate – the State Regulatory Registry LLC (SRR) – announced that efforts to develop content for a uniform mortgage loan originator (MLO) state test have begun. CSBS Releases RFP for Testing and Education ServicesFebruary 6, 2012 – The Conference of State Bank Supervisors (CSBS) and its affiliate – the State Regulatory Registry LLC – released a request for proposals (RFP) for services related to the testing and education requirements of the SAFE Act. Average Mortgage Rates Ease Setting New Record LowsFebruary 2, 2012 – Freddie Mac released the results of its Primary Mortgage Market Survey, showing average mortgage rates dropping to new all-time record lows as data on economic growth fell short of market projections. Agencies Issue Guidance on Junior Lien Loan Loss AllowancesFebruary 1, 2012 – Four federal financial regulatory agencies – the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency – on Tuesday issued ... Mortgage Rates Continue Trend of Record-Breaking LowsJanuary 12, 2012 – Freddie Mac released the results of its Primary Mortgage Market Survey, showing mortgage rates easing to new all-time record lows for all products covered in the survey helping to keep homebuyer affordability high. Consumer Attitudes Improve in DecemberJanuary 9, 2012 -- Americans' attitudes on a variety of issues are marginally better than one month ago, according to results from Fannie Mae’s December National Housing Survey. Ginnie Mae Releases Fiscal Year 2011 ResultsDecember 22, 2011 -- Ginnie Mae reported that Fiscal (FY) 2011 net income reached a corporate highpoint of $1.184 billion, surpassing $541.5 million in FY 2010 and a previous high of $906 million in FY 2008. FinCEN Extends Deadline for Adopting New CTR and SARDecember 21, 2011 -- The Financial Crimes Enforcement Network (FinCEN) announced that the deadline for financial institutions to utilize FinCEN's new Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) ... Agencies Issue Annual CRA Threshold AdjustmentsThe Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency announced the annual adjustment to the asset-size thresholds... CFPB Taking Whistleblower TipsThe Consumer Financial Protection Bureau (CFPB, the Bureau) has announced that whistleblowers can alert the CFPB to potential violations of federal consumer financial laws in multiple ways. FDIC Settles With WaMuThe Federal Deposit Insurance Corporation (FDIC) has announced a settlement with the former directors and officers of Washington Mutual Bank (WaMu). Federal Reserve Issues FOMC StatementDecember 14, 2011 -- During its Dec. 13 meeting, the Federal Open Market Committee (FOMC) announced that information received since its November meeting indicates the economy has been expanding moderately... OCC Assesses Civil Money Penalty Against Wells FargoDecember 9, 2011 – The Office of the Comptroller of the Currency announced it has assessed a civil money penalty of $20 million against Wells Fargo Bank, and required it to pay more than $14.5 million in restitution ... FDIC Board Approves New Office of Corporate Risk ManagementDecember 8, 2011 – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved the organizational plan of the Office of Corporate Risk Management (OCRM) that will assess external and internal risks faced by the FDIC. Consumer Concerns Stabilize in NovemberDecember 7, 2011 – Amid a spate of positive economic news during the November survey period, consumer sentiment appears to have stabilized from previous levels ... State Revenues Gradually ImprovingDecember 2, 2011 – A new report from the National Conference of State Legislatures (NCSL) shows state fiscal conditions are improving, but at a slow pace. FHFA Announces Senior Staff AppointmentsNovember 30, 2011 – Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco has announced the appointments of Richard B. Hornsby, as FHFA’s Chief Operating Officer (COO) ... Two Banks Repay $210 Million in Tarp FundsNovember 28, 2011 -- The U.S. Department of the Treasury announced that two financial institutions have repurchased Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP) investments ... |