Fitch: Canada Moving Ahead on Bank Contingent Capital Plan
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.
Wed May 15, 2013
Five Star parent fills corporate secretary post
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.
Tue May 14, 2013
Globe and Mail
Would shorter amortizations make the housing market safer?
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.
Mon May 13, 2013
OSFI looking at whether low risk, uninsured mortgages also need tightening
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 Honored for 'Premier Performance'
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.
Sun May 12, 2013
The Globe and Mail
OSFI probes longer-term uninsured mortgages, could act
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.
Fri May 10, 2013
Wisconsin credit unions post 7.6% gain in 1Q profits
Net income for Wisconsin credit unions increased 7.6% in the first quarter from a year ago, the industry's state regulator said Friday.
Mortgage rates reported below EU average
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.
Wed May 08, 2013
Societe Generale Settles Litigations Against MBIA
The settlement favorably ends a longstanding dispute involving credit default insurance written by MBIA and its affiliates covering multiple structured credit products.
SBI California ordered to clean up US operations
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.
Tue May 07, 2013
Becker to House Financial Services: All CUs need regulatory relief
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.
Changes coming fast atop shrinking CMHC
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 Agencies Adopt the Uniform State Test
Three more state agencies have announced that they will be adopting the new national MLO test with the Uniform State Content.
Mon May 06, 2013
CFPB Announces Organization, Senior Personnel Changes
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.
Sun May 05, 2013
Weekly Banker Briefing
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Fri May 03, 2013
Morgan Drexen Responds to Wisconsin DFI Report; Questions Whether...
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)
Thu May 02, 2013
State orders Morgan Drexen to pay $6.1 million in restitution, fines
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.
Heritage Oaks Bank gets good news from regulators
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.
Tue Apr 30, 2013
SEC and CFTC Issue Identity Theft Red Flags Rules Applicable to Financial Institutions and Creditors
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.
Mon Apr 29, 2013
The Orlando Sentinel
Fairwinds joins Bank of America, Wells Fargo in complaint rankings
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.