Upcoming Events
Effective Date: H.R. 2617
January 01, 2023
Consolidated Appropriations Act, 2023 This bill provides appropriations to federal agencies for the remainder of FY2023, provides supplemental appropriations for disaster relief and to support Ukraine, extends several expiring authorities, and modifies or establishes various programs that address a wide range of policy areas. The bill includes the 12 regular appropriations bills that fund federal…
Effective Date: Joint Statement on Crypto-Asset Risks to Banking Organizations
January 03, 2023
Joint Statement on Crypto-Asset Risks to Banking Organizations The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) are issuing the following statement on crypto-asset1 risks to banking organizations. The events of the past year…
Effective Date: Inflation Adjustment of Civil Monetary Penalties
January 13, 2023
AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Final rule. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing this final rule to adjust certain civil monetary penalties for inflation pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment…
Effective Date: Inflation Adjustment of Civil Monetary Penalties
January 19, 2023
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…
Effective Date: Community Reinvestment Act Regulations Asset-Size Thresholds
January 01, 2023
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: Prior Approval for Enterprise Products
February 27, 2023
AGENCY: Federal Housing Finance Agency. ACTION: Final rule. SUMMARY: The Federal Housing Finance Agency (FHFA or Agency) is adopting a final rule that establishes a process for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises) to provide advance notice to the FHFA Director before…
Comment Period: Non-Compete Clause Rule
March 10, 2023
AGENCY: Federal Trade Commission. ACTION: Notice of proposed rulemaking. SUMMARY: Pursuant to Sections 5 and 6(g) of the Federal Trade Commission Act, the Federal Trade Commission (“Commission”) is proposing the Non-Compete Clause Rule. The proposed rule would, among other things, provide that it is an unfair method of competition for an employer to enter into…
Comment Period: Registry of Supervised Nonbanks that Use Form Contracts to Impose Terms and Conditions that Seek to Waive or Limit Consumer Legal Protections
March 13, 2023
AGENCY: Bureau of Consumer Financial Protection. ACTION: Proposed rule with request for public comment. SUMMARY: The Consumer Financial Protection Act of 2010 (CFPA) requires the Consumer Financial Protection Bureau (Bureau or CFPB) to monitor markets for consumer financial products and services for risks to consumers in order to support the various statutory functions of the…
Comment Period: Agency Information Collection Activities; Proposed Collection; Comment Request; Beneficial Ownership Information Reports
March 20, 2023
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice and request for comments. SUMMARY: FinCEN invites all interested parties to comment on the report that will be used to collect beneficial ownership information, as required by the Beneficial Ownership Information Reporting Requirements final rule that was published on September 30, 2022. The details included in…
Comment Period: Agency Information Collection Activities; Proposed Collection; Comment Request; Individual FinCEN Identifiers
March 20, 2023
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice and request for comments. SUMMARY: FinCEN invites all interested parties to comment on the application that will be used to collect information from individuals who seek to obtain a FinCEN identifier, consistent with the Beneficial Ownership Information Reporting Requirements final rule that was published on September…
Effective Date: Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)
January 01, 2023
AGENCY: Bureau of Consumer Financial Protection. ACTION: Final rule; official interpretation. SUMMARY: The Consumer Financial Protection Bureau (Bureau) is issuing this final rule amending the regulation text and official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau calculates the dollar amounts for several provisions in Regulation Z annually; this…
Effective Date: Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
January 01, 2023
AGENCY: Bureau of Consumer Financial Protection. ACTION: Final rule; official interpretation. SUMMARY: The Consumer Financial Protection Bureau (Bureau) is amending the official commentary to its Regulation Z in order to make annual adjustments to the asset-size thresholds exempting certain creditors from the requirement to establish an escrow account for a higherpriced mortgage loan (HPML). These…
Effective Date: Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
January 01, 2023
AGENCY: Bureau of Consumer Financial Protection. ACTION: Final rule; official interpretation. SUMMARY: The Consumer Financial Protection Bureau (Bureau) is amending the official commentary that interprets the requirements of the Bureau’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…
Effective Date: Community Reinvestment Act: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds
January 01, 2023
Summary Today the Office of the Comptroller of the Currency (OCC) announces 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 association (collectively,…
May 2023 Compliance Huddle
May 10, 2023
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: Regulation Z and Home Equity
May 02, 2023
Description: This B2B Webinar will review the Regulation Z compliance implications of home equity loans – both open-end Home Equity Lines of Credit (HELOCs) and closed-end Home Equity Loans. We will discuss their differences, documentation and disclosures applicable to each, exemptions, advertising considerations, some common pitfalls and frequently asked questions, and more. This Back2Basics webinar…
Advanced Look at Call Reporting Webinar
March 23, 2023
Description: Join us for an advanced look at call reporting! Reports on Conditions and Income aka “Call Reports” can be confusing and intimidating. This webinar digs into the legislation behind call reports, the data that is reported on a call report as well as resources and tools that the bank can use. People Who Should…
April 2023 Compliance Huddle
April 06, 2023
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: UDAAP Explained
April 04, 2023
Description: Join us as we bring you back to the basics of UDAAP. During this webinar, we will unwrap the UDAAP acronym by defining the key terms and elements, and then discuss interagency guidance, emerging risks, and recent enforcement actions. UDAAP violations present substantial risks to financial institutions, including enforcement actions, FIRREA penalties, and reputational…
Deep Dive into the Section 1071 Final Rule Webinar
April 20, 2023
Description: Congress directed the CFPB to adopt regulations governing the collection of small business lending data and Section 1071 of the Dodd-Frank Act amended the ECOA to require financial institutions to comply, maintain, and submit certain data on application for credit for women-owned, minority-owned, and small businesses. This webinar will examine, review and analyze the…
March 2023 Compliance Huddle
March 15, 2023
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: Understanding Loan Applications and Credit Decisions
March 07, 2023
Description: This B2B webinar will review Loan Applications, their requirements, and general definitions. We will also discuss Credit Decisions under Regulation B and its timing requirements and impact on application process. We will discuss what the bank needs for a completed application, elements of adverse action, joint intent, collection of demographic information, and additional application…
Mortgage Servicing Overview and Expectations in a Post-Covid World Webinar
February 23, 2023
Description: Join us as we unpack the regulatory changes and expectations for mortgage servicing in a post-Covid world. In this webinar, we will discuss which regulatory amendments have expired, and which remain in effect for servicers. Members can expect to learn the current loss mitigation procedures, as well as the requirements for modifying a loan….
February 2023 Compliance Huddle
February 15, 2023
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: Presenters: Victoria E. Stephen, JD, CRCM, Vice…
B2B: The Cost of Credit: Understanding Finance Charges
February 07, 2023
Description: This B2B webinar will examine, review and analyze the definition of a finance charge. Learn how finance charges are considered the cost of consumer credit as a dollar amount and learn what is a finance charge and what is not a finance charge. Guidance will be also be presented that cover real estate charges,…