The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $16.5 billion in the third quarter of 2024. The third quarter trading revenue was $263 million, or 1.6 percent, more than in the previous quarter and $3.3 billion, or 25.0 percent, more than a year earlier.
Economic shifts have a profound impact on debt settlements, influencing the strategies and outcomes for lenders across the financial landscape. As market dynamics evolve, lenders must adapt to emerging economic trends to optimize debt recovery efforts effectively. The interplay between financial technology advancements and regulatory changes further complicates the debt settlement process.
Today, the Consumer Financial Protection Bureau (CFPB) took action to close an outdated overdraft loophole that exempted overdraft loans from lending laws. The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S. market.
Today, the Federal Trade Commission and the Justice Department’s Antitrust Division (DOJ) jointly announced the withdrawal of the Antitrust Guidelines for Collaborations Among Competitors (Collaboration Guidelines).
Acting Comptroller of the Currency Michael J. Hsu today discussed the rising challenge of financial fraud, emphasizing its pervasive impact on consumers and the broader financial system during a Women in Housing and Finance Public Policy Luncheon.
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