The Federal Reserve yesterday extended the date by which banks must comply with the Volcker Rule’s prohibition on owning interests in covered funds. Banks will now have until July 21, 2017, to comply.
Noting an environment of “high” strategic and operational risk, the OCC outlined nine priorities for midsize and community bank supervision in 2015 in its Semiannual Risk Perspective report released yesterday.
Credit cards offered in conjunction with colleges, universities and affiliated organizations have continued to decline since the CARD Act was enacted in 2009, the Consumer Financial Protection Bureau said in a report yesterday.
The bill, which cleared the Senate by a 56-40 vote, included a provision repealing the requirement in the Dodd-Frank Act that banks get rid of derivatives trading businesses.