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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Federal Reserve Board issues enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc
March 05, 2021 / Source: FRB
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Consumer Financial Protection Bureau Takes Action Against Payment Processor and Its Former CEO for Supporting Internet-Based Technical-Support Scams
March 05, 2021 / Source: CFPB
Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies engaged in internet-based technical-support fraud.
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Risk Management Manual of Examination Policies March 5, 2021
March 05, 2021 / Source: FDIC
The FDIC’s Risk Management Manual of Examination Policies (RMS Manual) has been updated.
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FDIC Issues List of Banks Examined for CRA Compliance March 4, 2021
March 04, 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).
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CFPB Proposes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule
March 04, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today released a notice of proposed rulemaking (NPRM) to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.
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Servicemembers Civil Relief Act: Revised Comptroller’s Handbook Booklet and Rescissions
March 04, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued the revised “Servicemembers Civil Relief Act” booklet of the Comptroller’s Handbook.
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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Severe Winter Storms
March 03, 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 Oklahoma affected by severe winter storms.
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FDIC Releases Strategic Plan to Reinforce Diversity, Equity, and Inclusion Within the Agency and Among the Financial Institutions It Supervises
March 03, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released the agency’s latest strategic plan to incorporate and promote diversity, equity, and inclusion (DEI) in every aspect of its mission and operations.
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Looking Back on 2020
March 03, 2021 / Source: FDIC
2020 was a year most of us would gladly forget. The global pandemic turned our personal and economic lives upside down —but how did our banks fare and how did our banking system hold up?
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Acting Comptroller Marks Anniversary of Freedman’s Bank and the National Currency Act
March 03, 2021 / Source: OCC
Today, Acting Comptroller of the Currency Blake Paulson issued the following statement to staff to recognize the 158th anniversary of the National Currency Act, which created the Office of the Comptroller of the Currency, and the 156th anniversary of the Freedman’s Savings and Trust Company.
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Federal Reserve Board issues enforcement actions with former employee of Gateway Bank and former employee of SunTrust Bank
March 02, 2021 / Source: FRB
The Federal Reserve Board on Tuesday announced the execution of the enforcement actions.
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OCC Releases CRA Evaluations for 13 National Banks and Federal Savings Associations
March 02, 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 February 1, 2021 through February 28, 2021.
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FHFA Authorizes More than $1 Billion for Affordable Housing Funds
March 01, 2021 / Source: FHFA
FHFA Director Mark Calabria announced today that he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac's (the Enterprises) affordable housing allocations for 2020.
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New Report From Consumer Financial Protection Bureau Finds Over 11 Million Families At Risk Of Losing Housing
March 01, 2021 / Source: CFPB
Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action.
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FDIC Issues CRA Examination Schedules for Second Quarter 2021 and Third Quarter 2021
February 26, 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 second quarter 2021 and third quarter 2021.
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Federal and State Regulators Release Updates to the BSA/AML Examination Manual
February 26, 2021 / Source: FFIEC
The Federal Financial Institutions Examination Council (FFIEC) today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual).
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FDIC Makes Public January Enforcement Actions Friday, February 26, 2021
February 26, 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 January.
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FDIC-Insured Institutions Reported Net Income of $59.9 Billion In Fourth Quarter 2020
February 25, 2021 / Source: FDIC
For the commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $59.9 billion in fourth quarter 2020, an increase of $5 billion (9.1 percent) from a year ago.
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Agencies Issue Shared National Credit Review
February 25, 2021 / Source: OCC
Credit risk for large, syndicated loans has increased over the last year, according to the 2020 Shared National Credit (SNC) Review released by federal bank regulatory agencies today.
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Technical Assistance Videos on Fair Lending
February 24, 2021 / Source: FDIC
The FDIC has released nine technical assistance videos on fair lending.
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OCC Issues Second and Third Quarter 2021 CRA Evaluation Schedule
February 24, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second quarter and third quarter 2021.
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FinCEN Issues Advisory on Financial Crimes Targeting COVID-19 Economic Impact Payments and a Companion Notice Providing Filing Instructions for Financial Institutions
February 24, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to alert financial institutions to fraud and other financial crimes related to Economic Impact Payments (EIPs), authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.
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Proposed Revisions to the Consolidated Reports of Condition and Income (Call Reports) Related to Brokered Deposits and Sweep Deposits
February 23, 2021 / Source: FDIC
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), are requesting comment on proposed revisions affecting reporting forms and instructions for the Call Reports.
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Making our housing market work better for all Americans
February 23, 2021 / Source: CFPB
The COVID-19 pandemic has left almost 3 million American homeowners behind on their mortgages.
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CFPB Updates Guidance for the ATR/QM Rule
February 23, 2021 / Source: CFPB
The Bureau has updated the small entity compliance guide and other compliance aids related to the ATR/QM Rule.