http://bankcreditnews.com Daily News on Commercial Lending & Consumer Credit Thu, 23 May 2013 19:48:29 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 http://bankcreditnews.com/news/senate-banking-committee-highlights-progress-in-fsocs-annual-report/10475/ http://bankcreditnews.com/news/senate-banking-committee-highlights-progress-in-fsocs-annual-report/10475/#comments Thu, 23 May 2013 16:35:25 +0000 Bank Credit News Reports http://bankcreditnews.com/?p=10475 Senate Banking Committee Chairman Tim Johnson highlighted areas of progress noted in the Financial Stability Oversight Council’s annual report, saying “all indicators point to a well-coordinated FSOC.” “But more needs to be done to improve our nation’s financial stability, and … Read More...]]> http://bankcreditnews.com/news/senate-banking-committee-highlights-progress-in-fsocs-annual-report/10475/feed/ 0 http://bankcreditnews.com/news/ncua-to-provide-1-18-million-in-grants-to-low-income-credit-unions/10472/ http://bankcreditnews.com/news/ncua-to-provide-1-18-million-in-grants-to-low-income-credit-unions/10472/#comments Thu, 23 May 2013 16:05:59 +0000 Sarah Jackson http://bankcreditnews.com/?p=10472 The National Credit Union Administration vowed to provide up to $1.18 million in grants to low-income credit unions under the Community Development Revolving Loan Fund Grant Initiative. “These grants provide critical assistance to low-income designated credit unions so they can … Read More...]]> http://bankcreditnews.com/news/ncua-to-provide-1-18-million-in-grants-to-low-income-credit-unions/10472/feed/ 0 http://bankcreditnews.com/news/barry-sommers-named-ceo-of-chases-consumer-bank/10468/ http://bankcreditnews.com/news/barry-sommers-named-ceo-of-chases-consumer-bank/10468/#comments Thu, 23 May 2013 15:35:07 +0000 Bank Credit News Reports http://bankcreditnews.com/?p=10468 JPMorgan Chase announced on Thursday that Barry Sommers, the CEO of Chase’s wealth management services, will become CEO of the consumer bank. Sommers, who has served as head of wealth management since 2010, will report to Gordon Smith, the CEO … Read More...]]> http://bankcreditnews.com/news/barry-sommers-named-ceo-of-chases-consumer-bank/10468/feed/ 0 http://bankcreditnews.com/news/cfpb-to-coordinate-enforcement-supervision-with-state-bank-regulators/10465/ http://bankcreditnews.com/news/cfpb-to-coordinate-enforcement-supervision-with-state-bank-regulators/10465/#comments Thu, 23 May 2013 15:05:48 +0000 Alexandra Villarreal http://bankcreditnews.com/?p=10465 The CFPB and Conference of State Bank Supervisors, which acted on behalf of state financial regulators, announced a framework to establish a process for coordination on enforcement and supervision issues where the CFPB and state regulators share jurisdiction. “Our strong … Read More...]]> http://bankcreditnews.com/news/cfpb-to-coordinate-enforcement-supervision-with-state-bank-regulators/10465/feed/ 0 http://bankcreditnews.com/news/house-subcommittee-members-express-concern-of-cfpbs-qm-rule-on-credit-access/10460/ http://bankcreditnews.com/news/house-subcommittee-members-express-concern-of-cfpbs-qm-rule-on-credit-access/10460/#comments Thu, 23 May 2013 14:35:14 +0000 Bank Credit News Reports http://bankcreditnews.com/?p=10460 Members of the House Subcommittee on Financial Institutions and Consumer Credit expressed concern on Tuesday that the CFPB’s qualified mortgage rule will reduce qualified homeowners’ access to credit. The QM—or ability-to-repay rule—mandated under Dodd-Frank requires lenders to determine a borrower’s … Read More...]]> http://bankcreditnews.com/news/house-subcommittee-members-express-concern-of-cfpbs-qm-rule-on-credit-access/10460/feed/ 0 http://bankcreditnews.com/news/nrf-to-oppose-visa-mastercard-swipe-fee-settlement/10457/ http://bankcreditnews.com/news/nrf-to-oppose-visa-mastercard-swipe-fee-settlement/10457/#comments Thu, 23 May 2013 14:05:11 +0000 Sarah Jackson http://bankcreditnews.com/?p=10457 The National Retail Federation announced on Tuesday that it plans to oppose a proposed settlement over Visa and MasterCard’s credit card swipe fees, urging retailers to consider their decisions before next week’s specified deadline. “The proposed settlement does nothing to … Read More...]]> http://bankcreditnews.com/news/nrf-to-oppose-visa-mastercard-swipe-fee-settlement/10457/feed/ 1 http://bankcreditnews.com/news/chase-provides-11-billion-in-mortgage-relief-ahead-of-schedule/10454/ http://bankcreditnews.com/news/chase-provides-11-billion-in-mortgage-relief-ahead-of-schedule/10454/#comments Thu, 23 May 2013 13:35:09 +0000 Bank Credit News Reports http://bankcreditnews.com/?p=10454 JPMorgan Chase announced on Tuesday it provided 126,000 homeowners with $11 billion in total mortgage relief, as required under the National Mortgage Settlement, ahead of its goal of two years. “We worked very hard to help homeowners as quickly as … Read More...]]> http://bankcreditnews.com/news/chase-provides-11-billion-in-mortgage-relief-ahead-of-schedule/10454/feed/ 0 http://bankcreditnews.com/news/cei-praises-bill-to-raise-credit-unions-member-business-lending-cap-to-27-5-percent/10449/ http://bankcreditnews.com/news/cei-praises-bill-to-raise-credit-unions-member-business-lending-cap-to-27-5-percent/10449/#comments Thu, 23 May 2013 13:05:22 +0000 Alexandra Villarreal http://bankcreditnews.com/?p=10449 The Competitive Enterprise Institute on Tuesday praised legislation introduced by Sens. Mark Udall (D-Colo.) and Rand Paul (R-Ky.) to increase the credit union member business lending cap to 27.5 percent of assets for eligible institutions. “The Udall-Paul bill will lift … Read More...]]> http://bankcreditnews.com/news/cei-praises-bill-to-raise-credit-unions-member-business-lending-cap-to-27-5-percent/10449/feed/ 0 http://bankcreditnews.com/news/verafin-partners-with-fundtech-to-allow-detection-of-real-time-wire-fraud/10444/ http://bankcreditnews.com/news/verafin-partners-with-fundtech-to-allow-detection-of-real-time-wire-fraud/10444/#comments Wed, 22 May 2013 16:35:10 +0000 Bank Credit News Reports http://bankcreditnews.com/?p=10444 Anti-money laundering solution provider Verafin announced on Monday a partnership with Fundtech to integrate its PAYplus payment platforms with Verafin’s FRAML solution, which allows financial institutions to prevent wire fraud in real time. “When we started to look for fraud … Read More...]]> http://bankcreditnews.com/news/verafin-partners-with-fundtech-to-allow-detection-of-real-time-wire-fraud/10444/feed/ 0 http://bankcreditnews.com/news/nafcu-meets-with-fincen-to-discuss-credit-unions-regulatory-concerns/10441/ http://bankcreditnews.com/news/nafcu-meets-with-fincen-to-discuss-credit-unions-regulatory-concerns/10441/#comments Wed, 22 May 2013 16:05:51 +0000 Sarah Jackson http://bankcreditnews.com/?p=10441 National Association of Federal Credit Unions President and CEO Fred Becker recently met with Jennifer Shasky Calvery, the director of Financial Crimes Enforcement Network, to discuss the regulatory burden on credit unions. Becker voiced concern regarding the impact of the … Read More...]]> http://bankcreditnews.com/news/nafcu-meets-with-fincen-to-discuss-credit-unions-regulatory-concerns/10441/feed/ 0