On August 5, the FDIC released an updated list of banks evaluated for compliance with the CRA in May, June, July and August. In May, the FDIC disclosed a list of evaluations of 56 banks, of which two were rated “outstanding,” 53 were rated “satisfactory,” and one was rated as “needs to improve.”
CFPB Director Rohit Chopra on Thursday defended his agency’s proposed rule to prohibit the listing of medical debt on credit reports, contending that such debts are not a fair indication of a person’s financial health.
The National Credit Union Administration Board unanimously approved, by notation vote, an interagency notice of proposed rulemaking(Opens new window) that would establish data standards for certain information collections submitted to the NCUA and other financial regulatory agencies.
As Commissioner Carr put it, AI remains a “frothy hot topic,” a sentiment echoed during the FCC’s August 7, 2024, hearing, where the Commission officially implemented new rules to regulate AI-generated “robocalls” and “robotexts.”
Real-time payments, known for their speed and immediacy, have faced adoption hurdles primarily due to perceptions about security. As financial institutions (FIs) and payments providers grapple with balancing rapid transaction processing with stringent security measures, artificial intelligence (AI) emerges as a crucial tool in overcoming these obstacles.
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