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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Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council
June 11, 2021 / Source: OCC
Acting Comptroller of the Currency Michael J. Hsu made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the LIBOR transition.
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Spring 2021 Rulemaking Agenda
June 11, 2021 / Source: CFPB
We have published our Spring 2021 Agenda as part of the Spring 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions , which is coordinated by the Office of Management and Budget under Executive Order 12866.
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OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29
June 10, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, June 29, 2021.
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Regulatory Relief FIL-40-2021
June 10, 2021 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Louisiana affected by severe storms, tornadoes, and flooding.
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Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy
June 09, 2021 / Source: Treasury
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals who support the Ortega regime — a regime that has undermined democracy, abused the human rights of civilians, enacted repressive laws with grave economic consequences, and tried to silence the independent news media.
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More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million
June 09, 2021 / Source: Treasury
The U.S. Department of the Treasury, Internal Revenue Service, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan.
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SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
June 08, 2021 / Source: SBA
PPP has provided nearly $800 billion to small businesses and nonprofits across the nation, fueling the economy by supporting over 8.5 million small businesses and nonprofits
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FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021
June 08, 2021 / Source: FHFA
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic.
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Nine Individuals Charged for Roles in Fraud Scam Involving 200 Victims
June 07, 2021 / Source: FDIC OIG
Three indictments returned by a federal grand jury sitting in Charleston have been unsealed that charge nine men for their involvement in illegal schemes alleged to have defrauded at least 200 victims, many of whom are elderly, of at least $2.5 million.
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Federal Reserve Board announces that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT
June 07, 2021 / Source: FRB
The Federal Reserve Board announced on Monday that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT.
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Federal Open Market Committee announces its tentative meeting schedule for 2022
June 04, 2021 / Source: FRB
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OCC Releases CRA Evaluations for 18 National Banks and Federal Savings Associations
June 04, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2021 through May 31, 2021.
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FDIC Issues List of Banks Examined for CRA Compliance Thursday, June 3, 2021
June 03, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in March 2021.
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Federal Reserve Board announces plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility
June 03, 2021 / Source: FRB
The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility that closed on December 31st, 2020.
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Federal Reserve Board issues final rule amending Regulation D with regard to interest on reserve balances
June 02, 2021 / Source: FRB
The Federal Reserve Board announced on Tuesday the approval of a final rule amending Regulation D to eliminate references to an interest on required reserves (IORR) rate and to an interest on excess reserves (IOER) rate and replace them with a single interest on reserve balances (IORB) rate.
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Summary of Deposits Survey and Filing for June 30, 2021
June 02, 2021 / Source: FDIC
The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks.
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Addressing racial inequities in consumer finance markets
June 02, 2021 / Source: CFPB
Over the last year, our country has faced many significant challenges, including the COVID-19 pandemic, the murder of George Floyd, and other acts of violence and racism. As a result, our nation has started a critical and long overdue conversation around race and equity.
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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of West Virginia Affected by Severe Storms
June 01, 2021 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of West Virginia affected by severe storms.
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Federal Reserve Board invites public comment on proposed rule to govern funds transfers over the Federal Reserve Banks’ FedNow Service
June 01, 2021 / Source: FRB
The Federal Reserve Board on Tuesday invited comment on a proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow℠ Service.
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Federal Reserve Board invites public comment on proposed changes to its Policy on Payment System Risk that governs the provision of intraday credit
May 28, 2021 / Source: FRB
The Federal Reserve Board on Friday requested public comment on proposed changes to its Policy on Payment System Risk (PSR policy) that governs the provision of intraday credit, or daylight overdrafts, to healthy depository institutions with accounts at the Federal Reserve Banks.
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FDIC Issues CRA Examination Schedules for Third Quarter 2021 and Fourth Quarter 2021
May 28, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter 2021 and fourth quarter 2021.
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FDIC Makes Public April 2021 Enforcement Actions
May 28, 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 April.
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Manufactured Housing Loan Borrowers Face Higher Interest Rates, Risks, and Barriers to Credit, New CFPB Report Finds
May 27, 2021 / Source: CFPB
Today the Consumer Financial Protection Bureau (CFPB) published a report that provides new insights into manufactured housing financing, a vital source of lending for millions of manufactured housing homeowners.
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Agencies Extend Period for CRA Consideration Given to Community Development Activities in Response to Hurricane Maria Disaster in Puerto Rico and the U.S. Virgin Islands
May 27, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (Board), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) are granting a 36–month extension to the original period provided in the January 2018 Interagency Statement on CRA Consideration for Community Development Activities in Puerto Rico and the U.S. Virgin Islands Following Hurricane Maria (Interagency Statement) for recognizing activities that help to revitalize or stabilize Puerto Rico and the U.S. Virgin Islands.
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Proposed Revisions to the Consolidated Reports of Condition and Income (Call Reports) Related to FDIC Assessments, Brokered Deposits and Sweep Deposits
May 26, 2021 / Source: FDIC
On May 24, 2021, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (collectively, the agencies), under the auspices of the Federal Financial Institutions Examination Council (FFIEC), published the attached final regulatory reporting changes in the Federal Register.