Events

  • Live Membership Demo 05-13-2021

    May 13, 2021

    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 hour. It is offered every Tuesday and Thursday, at 10:00am and 1:00pm respectively.

    Register Here

  • Comment Period: Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Private Flood Insurance

    May 17, 2021

    The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to supplement the Interagency Questions and Answers Regarding Flood Insurance with new questions and answers regarding the acceptance of flood insurance policies issued by private insurers pursuant to the Agencies' private flood insurance final rule issued in February 2019. These questions and answers will assist lenders in meeting their responsibilities under the final rule and increase public understanding of the Agencies' respective flood insurance regulations. The Agencies solicit comment on all aspects of these new questions and answers. Read more here.

  • Live Membership Demo 05-18-2021

    May 18, 2021

    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 hour. It is offered every Tuesday and Thursday, at 10:00am and 1:00pm respectively.

    Register Here

  • Comment Period: Debt Collection Practices (Regulation F); Delay of Effective Date

    May 19, 2021

    In 2020, the Bureau of Consumer Financial Protection (Bureau) finalized two rules titled Debt Collection Practices (Regulation F). The rules revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). Both final rules have an effective date of November 30, 2021. The Bureau is proposing to extend that effective date by 60 days, until January 29, 2022. Read more here.

  • Live Membership Demo 05-20-2021

    May 20, 2021

    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 hour. It is offered every Tuesday and Thursday, at 10:00am and 1:00pm respectively.

    Register Here

  • Live Membership Demo 05-25-2021

    May 25, 2021

    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 hour. It is offered every Tuesday and Thursday, at 10:00am and 1:00pm respectively.

    Register Here

  • Live Membership Demo 05-27-2021

    May 27, 2021

    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 hour. It is offered every Tuesday and Thursday, at 10:00am and 1:00pm respectively.

    Register Here

  • Comment Period: Proposed Agency Information Collection Activities

    May 28, 2021

    SUMMARY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Complex Institution Liquidity Monitoring Report. Read more here.

  • Comment Period: Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning

    June 1, 2021

    The agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning (ML). The purpose of this request for information (RFI) is to understand respondents’ views on the use of AI by financial institutions in their provision of services to customers and for other business or operational purposes; appropriate governance, risk management, and controls over AI; and any challenges in developing, adopting, and managing AI. The RFI also solicits respondents’ views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for financial institutions’ use of AI in a safe and sound manner and in compliance with applicable laws and regulations, including those related to consumer protection. Read more here.

  • Comment Period: Extent to Which Model Risk Management Principles Support Compliance With Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets

    June 11, 2021

    The OCC, Board, FDIC, NCUA, and FinCEN (collectively, the agencies), seek information and comment from interested parties on the extent to which the principles discussed in the interagency Supervisory Guidance on Model Risk Management (referred to as the ‘‘model risk management guidance,’’ or MRMG) support compliance by banks with Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) requirements. The agencies seek this information to enhance their understanding of bank practices in these areas and determine whether additional explanation or clarification may increase transparency, effectiveness, or efficiency. The OCC, Board, and FDIC, in consultation with NCUA and FinCEN, are concurrently issuing a statement to clarify that the risk management principles discussed in the MRMG are appropriate considerations in the context of the BSA/AML statutory and regulatory requirements. Read more here.

  • Effective Date: Final Rule on Net Stable Funding Ratio

    July 1, 2021

    The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) are adopting a final rule that implements a stable funding requirement, known as the net stable funding ratio (NSFR), for certain large banking organizations. The final rule establishes a quantitative metric, the NSFR, to measure the stability of the funding profile of Page 2 of 341 certain large banking organizations and requires these banking organizations to maintain minimum amounts of stable funding to support their assets, commitments, and derivatives exposures over a one-year time horizon.

    The NSFR is designed to reduce the likelihood that disruptions to a banking organization’s regular sources of funding will compromise its liquidity position, promote effective liquidity risk management, and support the ability of banking organizations to provide financial intermediation to businesses and households across a range of market conditions. The NSFR supports financial stability by requiring banking organizations to fund their activities with stable sources of funding on an ongoing basis, reducing the possibility that funding shocks would substantially increase distress at individual banking organizations.

    The final rule applies to certain large U.S. depository institution holding companies, depository institutions, and U.S. intermediate holding companies of foreign banking organizations, each with total consolidated assets of $100 billion or more, together with certain depository institution subsidiaries (together, covered companies). Under the final rule, the NSFR requirement increases in stringency based on risk-based measures of the top-tier covered company.

    U.S. depository institution holding companies and U.S. intermediate holding companies subject to the final rule are required to publicly disclose their NSFR and certain components of their NSFR every second and fourth calendar quarter for each of the two immediately preceding calendar quarters.

    The final rule also amends certain definitions in the agencies’ liquidity coverage ratio rule that are also applicable to the NSFR. Read more here.

  • Mandatory Compliance Date: Electronic Trading Risk Principles.

    July 12, 2021

    The Commodity Futures Trading Commission (CFTC) issued a final rule to amend its part 38 regulations to address the potential risk of a designated contract market’s (DCM) trading platform that experience a market disruption or system anomaly due to electronic trading. The final rule set forth three principles applicable to DCMs concerning the: (1) implementation of exchange rules applicable to market participants to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading; (2) implementation of exchange-based pre-trade risk controls for all electronic orders; and (3) prompt notification of CFTC by DCMs of any significant market disruptions on their electronic trading platforms. In addition, the final rule includes acceptable practices which provide that a 
    DCM can comply with the principles by adopting and implementing rules and risk controls reasonably designed to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading. Read more here.
     

  • Effective Date: Final Rule to Revise Regulation F

    November 30, 2021

    The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The final rule governs certain activities by debt collectors, as that term is defined in the FDCPA. Among other things, the final rule clarifies the information that a debt collector must provide to a consumer at the outset of debt collection communications, prohibits debt collectors from bringing or threatening to bring a legal action against a consumer to collect a time-barred debt, and requires debt collectors to take certain actions before furnishing information about a consumer’s debt to a consumer reporting agency. Read more here.

  • Effective Date: CFPB Final Rule Regarding HMDA Thresholds

    January 1, 2022

    The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to increase the threshold for reporting data about closed-end mortgage loans, so that institutions originating fewer than 100 closed-end mortgage loans in either of the two preceding calendar years will not have to report such data effective July 1, 2020. The Bureau is also setting the threshold for reporting data about open-end lines of credit at 200 open-end lines of credit effective January 1, 2022, upon the expiration of the current temporary threshold of 500 open-end lines of credit.

    DATES:

    This final rule is effective on July 1, 2020, except for the amendments to § 1003.2 in amendatory instruction 5, the amendments to § 1003.3 in amendatory instruction 6, and the amendments to supplement I to part 1003 in amendatory instruction 7, which are effective on January 1, 2022. See part VI for more information.

    Read more here

  • Mandatory Compliance Date: Unsafe and Unsound Banking Practices: Brokered Deposits and Interest Rate Restrictions

    January 1, 2022

    The FDIC is finalizing revisions to its regulations relating to the brokered deposits and interest rate restrictions that apply to less than well capitalized insured depository institutions. For brokered deposits, the final rule establishes a new framework for analyzing certain provisions of the ‘‘deposit broker’’ definition, including ‘‘facilitating’’ and ‘‘primary purpose.’’ For the interest rate restrictions, the FDIC is amending its methodology for calculating the national rate, the national rate cap, and the local market rate cap. Further, the FDIC is explaining when nonmaturity deposits are accepted and when nonmaturity deposits are solicited for purposes of applying the brokered deposits and interest rate restrictions. Read more here.

  • Mandatory Compliance Date: Removal of Transferred Office of Thrift Supervision (OTS) Regulations Regarding Nondiscrimination Requirements

    February 3, 2022

    FDIC issued a final rule to rescind and remove its regulation entitled, Nondiscrimination Requirements, and has amended its regulation entitled, Fair Housing, to make it applicable to state savings associations. The actions will streamline FDIC’s rules by eliminating unnecessary, inconsistent, and duplicative regulations, and ensure insured state nonmember banks and state savings associations generally will be subject to the same nondiscrimination requirements. Read more here.
     

  • Effective Date: OCC CRA Final Rule January 1, 2023

    January 1, 2023

    SUMMARY: The Office of the Comptroller of the Currency (OCC) is adopting a final rule to strengthen and modernize the Community Reinvestment Act (CRA) by clarifying and expanding the activities that qualify for CRA credit; updating where activities count for CRA credit; creating a more consistent and objective method for evaluating CRA performance; and providing for more timely and transparent CRA-related data collection, recordkeeping, and reporting.

    DATES: This rule is effective on October 1, 2020. Banks must comply with the final amendments by October 1, 2020, January 1, 2023, or January 1, 2024, as applicable. Until the compliance dates, banks must continue to comply with parts 25 and 195 that are in effect on September 30, 2020 (as set forth in appendix C to 12 CFR 25). Alternatively, the OCC may permit a bank to voluntarily comply, in whole or in part, with the amendments adopted in this release prior to the applicable compliance dates. Parts 25 and 195 that are in effect on September 30, 2020 (as set forth in appendix C) expire on January 1, 2024.

    Read more here

  • Effective Date: OCC CRA Final Rule January 1, 2024

    January 1, 2024

    SUMMARY: The Office of the Comptroller of the Currency (OCC) is adopting a final rule to strengthen and modernize the Community Reinvestment Act (CRA) by clarifying and expanding the activities that qualify for CRA credit; updating where activities count for CRA credit; creating a more consistent and objective method for evaluating CRA performance; and providing for more timely and transparent CRA-related data collection, recordkeeping, and reporting.

    DATES: This rule is effective on October 1, 2020. Banks must comply with the final amendments by October 1, 2020, January 1, 2023, or January 1, 2024, as applicable. Until the compliance dates, banks must continue to comply with parts 25 and 195 that are in effect on September 30, 2020 (as set forth in appendix C to 12 CFR 25). Alternatively, the OCC may permit a bank to voluntarily comply, in whole or in part, with the amendments adopted in this release prior to the applicable compliance dates. Parts 25 and 195 that are in effect on September 30, 2020 (as set forth in appendix C) expire on January 1, 2024.

    Read more here