Financial Institutions News

CHICAGO, May 17 Canadian bank regulators have moved ahead of their global counterparts in specifying the terms under which certain types of contingent capital could be converted to common equity in a bank stress scenario.

Rizzo's tenure as corporate secretary began in early 2010. In addition to leaving that post, he will retire as general counsel on May 31, the filing shows.

The latest idea being floated by The Office of the Superintendent of Financial Institutions is to limit amortizations to 25 years for homeowners who have put down 20 per cent of the purchase price or more.

Canada Mortgage Trends says it has been notified that the national banking regulator is looking at a possible further tightening of mortgage rules _ this time for those with low risk mortgages that don't require government-backed insurance.

The Bank of Santa Barbara has been recognized by The Findley Reports on Financial Institutions as a "Premier Performance" bank based on 2012 year-end financial results.

The Office of the Superintendent of Financial Institutions is seeking to get a handle on how much risk uninsured mortgages, those where the borrower does have a down payment of at least 20 per cent, pose to Canada's banks.

Net income for Wisconsin credit unions increased 7.6% in the first quarter from a year ago, the industry's state regulator said Friday.

The Central Bank today released figures for March 2013 showing the rates of interest paid by households and businesses for loans and received for placing deposits with Financial Institutions.

The settlement favorably ends a longstanding dispute involving credit default insurance written by MBIA and its affiliates covering multiple structured credit products.

By Arun Kumar, Washington, May 8 : The California-based subsidiary of State Bank of India has agreed to take a series of steps to improve its banking practices related to bad loans following a review by US regulators.

May 8, 2013 - NAFCU President and CEO Fred Becker wrote the leaders of the House Financial Services Committee yesterday to praise the panel's efforts on regulatory relief and to re-emphasize that all credit unions need regulatory relief as the panel moves forward on this issue.

Canada Mortgage and Housing Corp., the country's national housing agency, is finally on the path to being operated like a significant financial player which it has morphed into during the past decade.

Three more state agencies have announced that they will be adopting the new national MLO test with the Uniform State Content.

On April 22, the CFPB announced the creation of the Office of Financial Institutions and Business Liaison, which will interface with bank and nonbank trade associations, financial institutions, and other businesses.

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DFI Announces Fine; Attempts to Shut Down Services for Wisconsin Consumers as it Sides With Debt Collector Who's Filed More Than 400 Lawsuits, According to Wisconsin Court Documents MADISON, Wis., May 3, 2013 -- The Wisconsin Department of Financial Institutions announced a hefty fine for a company hired by a Wisconsin consumer attorney to assist ... (more)

A California company has been ordered by Wisconsin's financial regulator to pay more than $6.1 million in restitution and forfeitures for allegedly violating consumer protection laws regarding debt negotiation.

Regulators have terminated an order that’s been in effect since March 2010 requiring Heritage Oaks Bank to improve overall credit quality, operations and financial profitability, the bank said.

The SEC and CFTC recently issued joint Identity Theft Red Flags Rules , which are rules and guidelines requiring certain financial institutions worldwide to adopt comprehensive data security programs to detect red flags and prevent identity theft.

Along with Bank of America , Wells Fargo and other banking giants, a new name has landed on the latest roster of financial institutions with the most customer complaints in Florida: Fairwinds Credit Union.