Banker Compliance News
Banking compliance professionals require hot-topic news on consumer and regulatory compliance updates, decisions, amendments, changes and launches from across a wide spectrum of news agencies and federal websites. Not only do we update our News pages with individual news items and their links, but these are sent to members in a Daily Bank Compliance email that can be signed up for once new members log-in. Compliance Alliance monitors these agencies for bank compliance news updates throughout the day—posting relevant information to our News page. This is a valuable resource for Bank Managers and their employees.
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FDIC Makes Public August Enforcement Actions No Administrative Hearings Scheduled for October 2021
September 24, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August.
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Mutual Savings Associations: Requirements and Process for Voluntary Liquidation
September 24, 2021 / Source: OCC
This bulletin provides an overview of the regulatory requirements and process that the Office of the Comptroller of the Currency (OCC) uses to review a voluntary liquidation of a mutual federal savings association (mutual FSA).
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CFPB Report: Consumer Complaint Submission Patterns Vary by Demographic Characteristics of Census Tract
September 24, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today released its first in-depth report analyzing complaint submission patterns by U.S. Census tract.
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OCC Releases Fall/Winter Schedule of Virtual Workshops for Community Bank Directors
September 23, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced its fall and winter schedule of free, virtual workshops for boards of directors of community national banks and federal savings associations.
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Federal Reserve Board issues enforcement action with former employee of Simmons Bank and announces termination of enforcement action with The Bank & Trust
September 23, 2021 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement action.
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FinCEN Launches Regulatory Process For New Antiquities Regulations
September 23, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a range of questions related to the implementation of amendments to the Bank Secrecy Act (BSA) regarding the trade in antiquities.
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Consumer Financial Protection Bureau Announces New Advisory Committee Members
September 22, 2021 / Source: CFPB
CFPB Acting Director Dave Uejio today announced the appointment of new members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).
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Comptroller’s Handbook: Revised “Earnings” and “Regulatory Reporting” Booklets
September 22, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
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Federal Reserve Board and Federal Open Market Committee release economic projections from the September 21-22 FOMC meeting
September 22, 2021 / Source: FRB
The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the September 21-22 meeting.
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Treasury Takes Robust Actions to Counter Ransomware
September 21, 2021 / Source: Treasury
As part of the whole-of-government effort to counter ransomware, the U.S. Department of the Treasury today announced a set of actions focused on disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms, encouraging improved cyber security across the private sector, and increasing incident and ransomware payment reporting to U.S. government agencies, including both Treasury and law enforcement.
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Acting Comptroller Discusses Innovation in Digital Assets
September 21, 2021 / Source: OCC
Acting Comptroller of the Currency Michael J. Hsu today discussed blockchain, cryptocurrencies, decentralized finance, and key lessons from the 2008 financial crisis that should guide the future of digital innovation during remarks before the Blockchain Association.
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CFPB Sues Software Company That Helps Credit-Repair Businesses Charge Illegal Fees
September 20, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses.
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OCC Issues Cease and Desist Order Against MUFG Union Bank for Deficiencies Relating to Technology and Operational Risk Governance
September 20, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A.
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FinCEN Calls Attention to Online Child Sexual Exploitation Crimes
September 17, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) is issuing this Notice to call attention to an increase in online child sexual exploitation (OCSE) crimes.
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CFPB Report: Renters at Risk as COVID-19 Safety Net Ends
September 17, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today released a report warning that millions of renters and their families may suffer previously avoided economic harms of the COVID-19 pandemic as federal and state relief programs end.
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Plain Writing Act compliance report 2021
September 17, 2021 / Source: CFPB
The Consumer Financial Protection Bureau’s eighth annual Plain Writing Act Compliance Report is presented to fulfill the Bureau’s statutory responsibilities pursuant to the Plain Writing Act of 2010.
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Guide to Remote Financial Coaching
September 17, 2021 / Source: CFPB
To better understand the benefits and challenges of remote service delivery, the CFPB talked with leaders of nine programs that are providing remote financial coaching.
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OCC Reports Second Quarter 2021 Bank Trading Revenue
September 16, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $8.1 billion in the second quarter of 2021.
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OCC Enforcement Actions and Terminations September 16, 2021
September 16, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.
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FDIC Launches Mission-Driven Bank Fund
September 16, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced the launch of a new Mission-Driven Bank Fund, a capital investment vehicle being developed by the FDIC to support insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs).
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Acting Comptroller Discusses Priorities, Safeguarding Trust in Banking
September 15, 2021 / Source: OCC
Acting Comptroller of the Currency Michael J. Hsu today discussed the agency’s priorities during an appearance before the Exchequer Club.
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Michigan Man Sentenced for COVID-19 Relief Fraud
September 15, 2021 / Source: FDIC OIG
A Michigan man was sentenced today to 32 months in federal prison for fraudulently seeking nearly $1 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
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Banker Series: Overview and Updates on Consumer Complaints Management
September 14, 2021 / Source: FDIC
The FDIC offers a series of events for bankers, including teleconferences and webinars, to maintain open lines of communication and to update bank management and staff on important regulatory issues in the consumer compliance area.
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Treasury Department and Federal Housing Finance Agency Suspend Certain Requirements Under Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac
September 14, 2021 / Source: Treasury
The U.S. Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA) today agreed to suspend certain requirements that were added on January 14, 2021 to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and each of Fannie Mae and Freddie Mac (the Enterprises).
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Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Queensborough National Bank & Trust Company, Louisville, Ga.
September 13, 2021 / Source: OCC