Events

  • Comment Period: Request for Information Regarding the HMDA Rule Assessment

    January 21, 2022

    The CFPB is conducting an assessment of the 2015 Home Mortgage Disclosure Act (HMDA) Rule and related amendments in accordance with section 1022(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Bureau is requesting public comment on its plans for the assessment as well as certain recommendations and information that may be useful in conducting the planned assessment. Read more here.

  • Live Membership Demo 01-25-2022

    January 25, 2022

    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 01-27-2022

    January 27, 2022

    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 02-01-2022

    February 1, 2022

    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

  • 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.
     

  • Comments Due: OCC Principles for Climate Risk

    February 14, 2022

    The OCC issued a set of draft principles providing a framework for climate risk management for banks with more than $100 billion in total consolidated assets. The principles address governance; polices, procedures and limits; strategic planning; risk management; data, risk measurement and reporting; and scenario analysis. 

  • Comments Due: BIS Consultative Document on Principles for the Effective Management and Supervision of Climate-Related Financial Risks

    February 16, 2022

    Comments on the principles will be due Feb. 16. The Basel Committee on Banking Supervision issued a public consultation outlying the principles for the effective management and supervision of climate-related financial risks. These address the management of climate-related financial risks to the global banking system, including disclosure, supervisory and regulatory measures. Bank-related principles address corporate governance, internal controls, capital and liquidity adequacy, risk management processes, monitoring and reporting and scenario analysis.

  • Submission of 2021 HMDA Data

    March 1, 2022

    Submissions of 2021 HMDA data will be considered timely if received on or before Tuesday, March 1st, 2022.

  • Effective Date: Computer-Security Incident Notification Requirements

    April 1, 2022

    The OCC, Fed, and FDIC issued a final rule that requires a banking organization to notify its primary federal regulator of any “computer-security incident” that rises to the level of a “notification incident,” as soon as possible and no later than 36 hours after the banking organization determines that a notification incident has occurred. The final rule also requires a bank service provider to notify each affected banking organization customer as soon as possible when the bank service provider determines that it has experienced a computer-security incident that has caused, or is reasonably likely to cause, a material service disruption or degradation for four or more hours. Read more here

  • Mandatory Compliance: CFPB LIBOR Transition Proposed Rule, Guidance and Updated CHARM Booklet

    April 1, 2022

    The Bureau issued a proposed rule to amend Regulation Z to address the sunset of LIBOR, and to facilitate creditors' transition away from using LIBOR as an index for variable-rate consumer products. It also proposed changes to certain open-end and closed-end provisions to provide examples of replacement indices for LIBOR indices that meet certain Regulation Z standards. The Bureau also proposed changes to certain open-end provisions restricting index changes, requiring change-in-terms notices, and addressing how credit card rate reevaluation requirements apply. A revised CHARM booklet has been provided based on consumer testing. It removed the LIBOR-based rate examples. Mandatory compliance date is set for April 1, 2022. 

  • Mandatory Compliance Date: Computer-Security Incident Notification Requirements

    May 1, 2022

    The OCC, Fed, and FDIC issued a final rule that requires a banking organization to notify its primary federal regulator of any “computer-security incident” that rises to the level of a “notification incident,” as soon as possible and no later than 36 hours after the banking organization determines that a notification incident has occurred. The final rule also requires a bank service provider to notify each affected banking organization customer as soon as possible when the bank service provider determines that it has experienced a computer-security incident that has caused, or is reasonably likely to cause, a material service disruption or degradation for four or more hours. Read more here

  • SAFE Act - Start Date - 2022 Annual Renewal Period

    November 1, 2022

    An MLO must renew his or her registration during the annual renewal period by confirming and updating his or her registration records. A covered financial institution must update the information it submitted to the Registry during the annual registration renewal period and must confirm the registration information provided by MLO employees during this period.

  • SAFE Act - End Date - 2022 Annual Renewal Period

    December 31, 2022

    An MLO must renew his or her registration during the annual renewal period by confirming and updating his or her registration records. A covered financial institution must update the information it submitted to the Registry during the annual registration renewal period and must confirm the registration information provided by MLO employees during this period.

  • 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