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Become a MemberCurrent News
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FDIC Board of Directors Released Semiannual Update on Restoration Plan
December 7, 2023
WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) Board of Directors today released its second semiannual update of 2023 on the Restoration Plan for the agency’s Deposit Insurance Fund (DIF). The Federal Deposit Insurance Act (FDI Act) requires that the FDIC Board adopt a restoration plan when the DIF’s reserve ratio—the ratio of the fund balance relative to insured deposits—falls below 1.35 percent.
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CFPB Orders Atlantic Union Bank to Pay $6.2 Million for Illegal Overdraft Fee Harvesting
December 7, 2023
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs. The CFPB found that Atlantic Union misled consumers who enrolled in this overdraft service by phone and failed to provide proper disclosures. The CFPB is ordering Atlantic Union to refund at least $5 million in illegal overdraft fees and pay a $1.2 million penalty to the CFPB’s victims relief fund.
Upcoming Events
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Comment Period: Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More
December 11, 2023
AGENCY: Federal Deposit Insurance Corporation. ACTION: Notice of proposed rulemaking and issuance of guidelines. SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is seeking comment on proposed corporate governance and risk management guidelines (Guidelines) that would apply to all insured state nonmember banks, state-licensed insured branches of foreign banks, and insured state savings associations that are…
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Live Membership Demo 12-12-2023
December 12, 2023
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A’s additional services. This meeting is presented by our Membership team, and will last about an…
Member Success Stories
Success Story
Denise D. LaneWe engaged Compliance Alliance nearly four years ago to assist in managing the many new regulations and continuous changes to existing regulations. The tools C/A offered at that time were excellent and just continue to get better! We find the policy templates easy to customize, which is a tremendous help. Several employees at our bank utilize the online chat feature which is a GREAT tool! C/A’s representatives are experts, and will immediately respond to our request for information. If they are in chat with another client, they will even let you know, so you are not left wondering if they have received your request to chat. I have absolutely nothing negative to say about Compliance Alliance … GREAT resource in all areas of regulatory compliance!”
Bank of Ocean City, Berlin, MD
Success Story
Laurie GoodlockCompliance Alliance is a great fit for Farmers State Bank, a 70M bank in mid-Michigan. As the Chief Marketing Officer, I’m constantly developing new marketing pieces for the bank and Compliance Alliance is always right there with me keeping my promotional concepts up-to-date with the latest regulatory requirements. I can email my ideas directly to Compliance Alliance knowing that I’ll have a response the next day! This gives me the peace of mind I need to focus on our campaigns and other programs while not getting bogged down with regulatory worries. highly recommend a partnership with Compliance Alliance.”
Farmers State Bank, Munith, MI
Success Story
Jason CarrollThe chat feature’s quick turn-around time is what separates C/A from other compliance professionals. Not only is the response quick, in our experience, it is very detailed. And to have the transcript from the chat emailed for future reference—that has been very beneficial on many occasion. My compliance officers love the chat. Personally, I recall a time when in a meeting, our president had a question I could not answer. I logged into a chat session while the meeting was happening, got an answer, and was able to respond in minutes. I couldn’t do that with any other service.”
Heritage Bank, Hopkinsville, KY