Upcoming Events
Effective Date: Federal Reserve Bank Capital Stock
December 29, 2023
AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule. SUMMARY: The Board of Governors (Board) is publishing a final rule that applies an inflation adjustment to the threshold for total consolidated assets in Regulation I. Federal Reserve Bank (Reserve Bank) stockholders that have total consolidated assets above the threshold receive a different…
Effective Date: Enterprise Regulatory Capital Framework-Commingled Securities, Multifamily Government Subsidy, Derivatives, and Other Enhancements
April 01, 2024
AGENCY: Federal Housing Finance Agency. ACTION: Final rule. SUMMARY: The Federal Housing Finance Agency (FHFA or the Agency) is adopting a final rule that amends several provisions in the Enterprise Regulatory Capital Framework (ERCF) for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac, and with Fannie Mae,…
Effective Date: Beneficial Ownership Information Reporting Deadline Extension for Reporting Companies Created or Registered in 2024
January 01, 2024
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Final rule. SUMMARY: FinCEN is amending the beneficial ownership information (BOI) reporting rule (the “Reporting Rule”) to extend the filing deadline for certain BOI reports. Under the Reporting Rule prior to this amendment, entities created or registered on or after the rule’s effective date of January 1,…
Fintech Due Diligence
March 21, 2024
Description: The Agencies have created numerous resources for community banks when it comes to performing due diligence on prospective relationships with FinTech companies. But none are one-sized fits all, leaving many financial institutions needing to tailor their approaches to the types of third-party relationships and risks. The scope and the depth of due diligence will…
March 2024 Compliance Huddle
March 13, 2024
Every month, Compliance Alliance gathers bankers from our community nationwide and engages them to an open discussion about the issues that their organizations are navigating. We invite our members to share their concerns and experiences with input and guidance from the compliance professionals who host the event. Ways to Participate:
B2B: Adverse Actions
March 05, 2024
Description: This B2B Webinar will review adverse actions under Regulation B and the Fair Credit Reporting Act (FCRA). We will discuss the different notification, applicability, and other requirements for each, as well as common pitfalls and frequently asked questions. This Back2Basics webinar may serve as a refresher for individuals who may be recently returning to…
Third Party Risk Management Expectations and The New Interagency Guidance
February 22, 2024
Description: Financial institutions must ensure they have sound risk management principles in place throughout the entire life cycle of third-party relationships. This webinar will explore the various stages of third-party relationships and the vendor management life cycle, it will provide tools to measure performance and to ensure compliance, it will review the 2023 interagency guidance,…
February 2024 Compliance Huddle
February 14, 2024
Every month, Compliance Alliance gathers bankers from our community nationwide and engages them to an open discussion about the issues that their organizations are navigating. We invite our members to share their concerns and experiences with input and guidance from the compliance professionals who host the event. Ways to Participate:
B2B: TCPA and Bank Lottery Rules
February 06, 2024
Description: Have you ever picked up the phone and wondered if this is an okay time to call a customer? Have you ever looked at a marketing piece and asked if this competition or sweepstakes was okay? If so, join us as we take a look at the elements of the Telephone Consumer Protection Act…
CRA Modernization Final Rule
January 25, 2024
Description: With an estimated effective date of April 1, 2024, the Community Reinvestment Act (CRA) Final Rule is expected to cause widespread confusion due to its near-1,500 pages of definitions, tests, changes, and transitions. Join us for an hour-long root canal to identify the most important considerations for your bank’s strategic preparation and implementation of…
B2B: Regulation J Overview
January 09, 2024 - October 03, 2023
Description: Regulation J is a rule that was put in place to outline how depository institutions must collect checks and other items. It serves as a legal framework for depository institutions when it comes to the collection of checks and other items and to settle balances through the Federal Reserve System. The regulation also provides…
January 2024 Compliance Huddle
January 17, 2024
For this month’s Huddle, we will be including a special focus on the potential economic headwinds we will be facing as we head into 2024 and discussing why it is critical for banks to ensure they are appropriately managing safety and soundness risks in anticipation. Please have relevant bank staff attend to the extent possible,…
Effective Date: Commercial Lending: Venture Loans to Companies in an Early, Expansion, or Late Stage of Corporate Development
November 01, 2023
Summary The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to inform banks1 about policy guidance that applies to commercial loans to early-, expansion-, and late-stage companies. This bulletin refers to these loans as “venture loans.” There is heightened uncertainty and higher probability of failure associated with new business ventures. The OCC…
Effective Date: Telephone Consumer Protection Act: Revised Interagency Examination Procedures and Rescissions
November 01, 2023
Summary The Office of the Comptroller of the Currency (OCC) today published the revised interagency examination procedures for the Telephone Consumer Protection Act (TCPA). The OCC, Federal Deposit Insurance Corporation, and the National Credit Union Administration have revised the interagency examination procedures to reflect amendments to the TCPA that became effective on October 25, 2021.1…
Effective Date: Indorsement and Payment of Checks Drawn on the United States Treasury
December 01, 2023
AGENCY: Bureau of the Fiscal Service, Treasury. ACTION: Final rule. SUMMARY: The Bureau of the Fiscal Service (Fiscal Service) of the Department of the Treasury (Treasury) is amending its regulations that govern the payment of checks drawn on the United States Treasury (Treasury checks). The amendments coincide with the development of Fiscal Service’s enhanced check…
Effective Date: Use of FinCEN Identifiers for Reporting Beneficial Ownership Information of Entities
January 01, 2024
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Final rule. SUMMARY: FinCEN is issuing a final rule to specify when and how entities required to report beneficial ownership information to FinCEN may use a FinCEN identifier to report the beneficial ownership information of certain related entities. These regulations amend FinCEN’s Beneficial Ownership Information Reporting Requirements…
Comment Period: Removing Criminal Conviction Restrictions for Testers in FHIP- and FHAP-Funded Testing Programs
January 02, 2024
AGENCY: Office of Fair Housing and Equal Opportunity, HUD. ACTION: Proposed rule. SUMMARY: Through this proposed rule, the U.S. Department of Housing and Urban Development (HUD) seeks to eliminate the tester restrictions for Fair Housing Initiatives Program (FHIP) grantees and for Fair Housing Assistance Program (FHAP) agencies that forbid FHIP and FHAP recipients from using…
Comment Period: Retirement Security Rule: Definition of an Investment Advice Fiduciary
January 02, 2024
AGENCY: Employee Benefits Security Administration, Department of Labor. ACTION: Proposed rule. SUMMARY: This document contains a proposed amendment to the regulation defining when a person renders “investment advice for a fee or other compensation, direct or indirect” with respect to any moneys or other property of an employee benefit plan, for purposes of the definition…
Comment Period: Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications
January 08, 2024
AGENCY: Consumer Financial Protection Bureau. ACTION: Proposed rule; request for public comment. SUMMARY: The Consumer Financial Protection Bureau (CFPB) proposes a rule to define a market for general-use digital consumer payment applications. The proposed market would cover providers of funds transfer and wallet functionalities through digital applications for consumers’ general use in making payments to…
Effective Date: Community Reinvestment Act
April 01, 2024
AGENCY: Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; and Federal Deposit Insurance Corporation ACTION: Final rule. SUMMARY: The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) are adopting final amendments…
Effective Date: Joint Statement on Fair Lending and Credit Opportunities for Noncitizen Borrowers Under the Equal Credit Opportunity Act
October 12, 2023
AGENCY: Consumer Financial Protection Bureau. ACTION: Notice of joint statement. SUMMARY: The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have released a joint statement to assist creditors and borrowers in understanding the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act…
Comment Period: Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern
January 22, 2024
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice of proposed rulemaking. SUMMARY: FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, that proposes requiring domestic financial institutions and domestic financial agencies to implement certain recordkeeping and reporting requirements relating to transactions involving convertible virtual currency…
Comment Period: Required Rulemaking on Personal Financial Data Rights
December 29, 2023
AGENCY: Consumer Financial Protection Bureau. ACTION: Proposed rule; request for public comment. SUMMARY: The Consumer Financial Protection Bureau (CFPB) is proposing to establish 12 CFR part 1033, to implement section 1033 of the Consumer Financial Protection Act of 2010 (CFPA). The proposed rule would require depository and nondepository entities to make available to consumers and…
Comment Period: Notice of Proposed Rulemaking to Revise FDIC Regulations Concerning Section 19 of the Federal Deposit Insurance Act
October 24, 2023
Summary: The Federal Deposit Insurance Corporation (FDIC) issued a proposal that would revise 12 C.F.R. part 303, subpart L, and part 308, subpart M, thereby updating the FDIC’s regulations concerning section 19 of the Federal Deposit Insurance Act to conform with the Fair Hiring in Banking Act (Act). On December 23, 2022, the James M….
Effective Date: Regulatory Capital Rules: Risk-Based Capital Requirements for Depository Institution Holding Companies Significantly Engaged in Insurance Activities
January 01, 2024
AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule. SUMMARY: The Board of Governors of the Federal Reserve System is adopting risk-based capital requirements for depository institution holding companies that are significantly engaged in insurance activities. This risk-based capital framework, termed the Building Block Approach, adjusts and aggregates existing legal entity capital…