Upcoming Events
Effective Date: Securities Operations: Shortening the Standard Settlement Cycle
January 17, 2024
Summary The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to highlight actions that banks1 should take to prepare for a change in the standard securities settlement cycle for most U.S. securities transactions. The compliance date for this change is May 28, 2024. Rescissions This bulletin replaces and rescinds OCC Bulletin 2017-22,…
Effective Date: Fair Credit Reporting; Background Screening
January 23, 2024
AGENCY: Consumer Financial Protection Bureau. ACTION: Advisory opinion. SUMMARY: The Consumer Financial Protection Bureau (CFPB or Bureau) is issuing this advisory opinion to affirm that, when preparing consumer reports, a consumer reporting agency that reports public record information is not using reasonable procedures to assure maximum possible accuracy under section 607(b) of the Fair Credit…
Effective Date: Fair Credit Reporting; File Disclosure
January 23, 2024
ACTION: Advisory opinion. SUMMARY: The Consumer Financial Protection Bureau (CFPB or Bureau) is issuing this advisory opinion to address certain obligations that consumer reporting agencies have under section 609(a) of the Fair Credit Reporting Act (FCRA). This advisory opinion underscores that, to trigger a consumer reporting agency’s file disclosure requirement under FCRA section 609(a), a…
Effective Date: Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary Penalties
January 25, 2024
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Final rule. SUMMARY: FinCEN is publishing this final rule to reflect inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended. This rule adjusts certain maximum civil monetary penalties within the jurisdiction of FinCEN to the…
Comment Period: Children’s Online Privacy Protection Rule
March 11, 2024
AGENCY: Federal Trade Commission. ACTION: Notice of proposed rulemaking. SUMMARY: The Commission proposes to amend the Children’s Online Privacy Protection Rule, consistent with the requirements of the Children’s Online Privacy Protection Act. The proposed modifications are intended to respond to changes in technology and online practices, and where appropriate, to clarify and streamline the Rule….
Comment Period: Overdraft Lending: Very Large Financial Institutions
April 01, 2024
AGENCY: Consumer Financial Protection Bureau. ACTION: Proposed rule; request for public comment. SUMMARY: The Consumer Financial Protection Bureau (CFPB) proposes to amend Regulations E and Z to update regulatory exceptions for overdraft credit provided by very large financial institutions, thereby ensuring that extensions of overdraft credit adhere to consumer protections required of similarly situated products,…
Comment Period: Fees for Instantaneously Declined Transactions
March 25, 2024
AGENCY: Consumer Financial Protection Bureau. ACTION: Proposed rule; request for public comment. SUMMARY: The Consumer Financial Protection Bureau (CFPB) is proposing to prohibit covered financial institutions from charging fees, such as nonsufficient funds fees, when consumers initiate payment transactions that are instantaneously declined. Charging such fees would constitute an abusive practice under the Consumer Financial…
Effective Date: Rules of Practice and Procedure
April 01, 2024
AGENCY: Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; National Credit Union Administration. ACTION: Final rule. SUMMARY: The Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration…
Effective Date: Community Reinvestment Act: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds
January 01, 2024
Summary The Office of the Comptroller of the Currency (OCC) announced revisions to the asset-size threshold amounts used to define “small bank or savings association” and “intermediate small bank or savings association” under the Community Reinvestment Act (CRA) regulations. The thresholds—which apply to any national bank, federal savings association, or state savings association1 (collectively, bank)—become effective…
Comment Period: Proposed Agency Information Collection Activities
February 26, 2024
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint notice and request for comment. SUMMARY: In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies)…
Comment Period: Request for Information on Financial Inclusion
February 20, 2024
AGENCY: Departmental Offices, Department of the Treasury. ACTION: Request for information (RFI). SUMMARY: The Department of the Treasury (Treasury) invites public input to inform its development of a national strategy for financial inclusion. This request for information (RFI) offers the opportunity for interested individuals and organizations to identify opportunities to advance financial inclusion through policy,…
Comment Period: Trade Regulation Rule on Unfair or Deceptive Fees
February 07, 2024
AGENCY: Federal Trade Commission. ACTION: Notice of proposed rulemaking; request for public comment. SUMMARY: The Federal Trade Commission commences a rulemaking to promulgate a trade regulation rule entitled “Rule on Unfair or Deceptive Fees,” which would prohibit unfair or deceptive practices relating to fees for goods or services, specifically, misrepresenting the total costs of goods…
Effective Date: Beneficial Ownership Information Access and Safeguards
February 22, 2024
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Final rule. SUMMARY: FinCEN is promulgating regulations regarding access by authorized recipients to beneficial ownership information (BOI) that will be reported to FinCEN pursuant to section 6403 of the Corporate Transparency Act (CTA), enacted into law as part of the Anti-Money Laundering Act of 2020 (AML Act),…
Effective Date: FDIC Finalizes Rule to Modernize Official Signs and Advertising Statement Requirements for Insured Depository Institutions
April 01, 2024
WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) Board of Directors today adopted a final rule to amend part 328 of its regulations to modernize the rules governing use of the official FDIC signs and advertising statements, and to clarify the FDIC’s regulations regarding false advertising, misrepresentations of deposit insurance coverage, and misuse of the…
Effective Date: Combating Auto Retail Scams Trade Regulation Rule
July 30, 2024
AGENCY: Federal Trade Commission. ACTION: Final rule. SUMMARY: The Federal Trade Commission (“FTC” or “Commission”) is issuing this Combating Auto Retail Scams Trade Regulation Rule (“CARS Rule,” “Rule,” or “Final Rule”) and Statement of Basis and Purpose (“SBP”) related to the sale, financing, and leasing of covered motor vehicles by covered motor vehicle dealers. The…
Effective Date: Community Reinvestment Act Regulations Asset-Size Thresholds
January 01, 2024
AGENCY: Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC). ACTION: Joint final rule; technical amendment. SUMMARY: The Board and the FDIC (collectively, the Agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define “small bank” and “intermediate small bank.” As required by…
Effective Date: Advisory: Managing Commercial Real Estate Concentrations in a Challenging Economic Environment
December 18, 2023
Summary: The FDIC is issuing this advisory to reemphasize the importance of strong capital, appropriate credit loss allowance levels, and robust credit risk-management practices for institutions with commercial real estate (CRE) concentrations. It also conveys several key risk management practices for institutions to consider in managing CRE loan concentrations in the current challenging economic environment. …
Effective Date: Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
January 01, 2024
AGENCY: Consumer Financial Protection Bureau. ACTION: Final rule; official interpretation. SUMMARY: The Consumer Financial Protection Bureau (CFPB) is amending the official commentary that interprets the requirements of the CFPB’s Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the…
Comment Period: Regulatory capital rule: Amendments applicable to large banking organizations and to banking organizations with significant trading activity
January 16, 2024
AGENCY: Office of the Comptroller of the Currency, Treasury; the Board of Governors of the Federal Reserve System; and the Federal Deposit Insurance Corporation. ACTION: Notice of proposed rulemaking. SUMMARY: The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are inviting…
Comment Period: Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More
February 09, 2024
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…
Effective Date: Retail Lending: Risk Management of ‘Buy Now, Pay Later’ Lending
December 06, 2023
Summary The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to assist banks1 in effectively managing risks associated with “buy now, pay later” (BNPL) lending and in offering BNPL loans in a responsible manner. The OCC expects banks that offer BNPL loans to do so in a manner that is safe and…
Effective Date: Special Assessment Pursuant to Systemic Risk Determination
April 01, 2024
AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Final Rule. SUMMARY: The FDIC is adopting a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF or Fund) arising from the protection of uninsured depositors following the closures of Silicon Valley Bank, Santa Clara, CA, and Signature Bank, New…
Effective Date: Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
January 01, 2024
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and Consumer Financial Protection Bureau (Bureau). ACTION: Final rules, official interpretations, and commentary. SUMMARY: The OCC, the Board, and the Bureau are finalizing amendments to the official interpretations for their regulations that implement section 129H of…
Effective Date: Consumer Leasing (Regulation M)
January 01, 2024
AGENCY: Board of Governors of the Federal Reserve System (Board) and Consumer Financial Protection Bureau (Bureau). ACTION: Final rules, official interpretations, and commentary. SUMMARY: The Board and the Bureau (collectively, the Agencies) are finalizing amendments to the official interpretations and commentary for the Agencies’ regulations that implement the Consumer Leasing Act (CLA). The Dodd-Frank Wall…
Effective Date: Truth in Lending (Regulation Z)
January 01, 2024
AGENCY: Board of Governors of the Federal Reserve System (Board) and Consumer Financial Protection Bureau (Bureau). ACTION: Final rules, official interpretations, and commentary. SUMMARY: The Board and the Bureau (collectively, the Agencies) are publishing final rules amending the official interpretations and commentary for the Agencies’ regulations that implement the Truth in Lending Act (TILA). The…