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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New York City Man Charged with Nearly $4 Million COVID-19 Relief Fraud Scheme and Money Laundering
May 12, 2021 / Source: FDIC OIG
A criminal complaint was filed in the District of New Jersey today charging a dual-resident of New York and Florida with fraudulently obtaining and laundering nearly $4 million in funds from the COVID-19 relief Paycheck Protection Program (PPP).
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Nearly 1 million additional Economic Impact Payments disbursed under the American Rescue Plan; Total payments reach nearly 165 million
May 12, 2021 / Source: Treasury
Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly 1 million payments in the ninth batch of Economic Impact Payments from the American Rescue Plan.
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FDIC Publishes 2021 Risk Review
May 11, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today published its 2021 Risk Review, a comprehensive summary of emerging risks in the U.S. banking system.
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FinCEN Extends Application Deadline for Special Monthly Innovation Hours Sessions for Underserved Groups Developing Technology to Fight Illicit Financial Activity
May 11, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) is extending the deadline for its special monthly virtual FinCEN Innovation Hours Program on June 10, 2021, which will focus on the important role of underserved groups in developing technology to fight illicit financial activity and protect the nation’s security.
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FDiTech Announces New Deputy Director of Office of Innovation
May 10, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced the appointment of Zunera Mazhar as Deputy Director of the agency’s Office of Innovation.
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FDIC Announces Settlement with Umpqua Bank, Roseburg, Oregon for Unfair and Deceptive Practices in Violation of Section 5 of the Federal Trade Commission Act
May 10, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced a settlement with Umpqua Bank, Roseburg, Oregon, for engaging in unfair and deceptive practices, in violation of Section 5 of the Federal Trade Commission Act (Section 5).
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OCC Releases CRA Evaluations for 15 National Banks and Federal Savings Associations May 4, 2021
May 10, 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 April 1, 2021 through April 30, 2021.
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Federal Reserve Board invites public comment on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions and publishes a biennial report containing
May 07, 2021 / Source: FRB
The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases.
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Michael J. Hsu to Become Acting Comptroller of the Currency May 10, 2021
May 07, 2021 / Source: OCC
The U.S. Department of the Treasury today announced that Michael J. Hsu will become Acting Comptroller of the Currency on May 10, 2021, pursuant to 12 USC 4 as designated by Secretary of the Treasury Janet Yellen.
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FDIC Announces Meeting of Advisory Committee on Economic Inclusion
May 06, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet virtually on Thursday, May 13, with two panels of experts to discuss the topics of Expanding Inclusion through Technology and Innovation and Expanding Account Access via the FDIC Public Awareness Campaign #GetBanked, which was launched on April 5, 2021.
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Office of Servicemember Affairs Annual Report MAY 06, 2021
May 06, 2021 / Source: CFPB
We are proud to share some of the great work done by the Bureau and the Office of Servicemember Affairs (OSA) in 2020, highlighted in our eighth annual report.
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Consumer use of payday, auto title, and pawn loans: Insights from the Making Ends Meet Survey
May 06, 2021 / Source: CFPB
In this research brief, we examine the prevalence, persistence of use, and alternate credit sources available for consumers who use payday, auto title, and pawn loans.
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FDIC’s Office of the Ombudsman Publishes Report on 2019 & 2020 Activities
May 05, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation’s (FDIC) Office of the Ombudsman today published a report detailing its activities, as well as assistance provided on behalf of the banking industry, for calendar years 2019 and 2020.
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Federal Reserve Board invites public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks
May 05, 2021 / Source: FRB
The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines").
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FDIC Issues List of Banks Examined for CRA Compliance May 4, 2021
May 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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Consumer Financial Protection Bureau and Federal Trade Commission Put Nation’s Largest Landlords on Notice About Tenants’ Pandemic Protections
May 04, 2021 / Source: CFPB
Today, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio and Federal Trade Commission (FTC) Acting Chairwoman Rebecca Kelly Slaughter sent notification letters to the nation’s largest apartment landlords, which collectively own more than 2 million units.
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CFPB Issues Reports Detailing Mortgage Borrowers’ Continuing COVID-19 Challenges
May 04, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) released two reports today showing that more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.
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Fite Elected as State Liaison Committee Chairman, Reappointed to FFIEC State Liaison Committee
May 03, 2021 / Source: FFIEC
The Federal Financial Institutions Examination Council’s (FFIEC) State Liaison Committee (SLC) today announced the election of Thomas Fite as SLC Chairman.
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Regulatory Relief FIL-32-2021
May 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 Alabama affected by severe storms, straight-line winds, and tornadoes.
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Regulatory Relief FIL-31-2021
May 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 Kentucky affected by severe storms, flooding, landslides, and mudslides.
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Changes in consumer financial status during the early months of the pandemic
April 30, 2021 / Source: CFPB
A new analysis in our Making Ends Meet survey series looks at the early impact of COVID-19 on the financial status of consumers.
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Credit Card Lending: Revised Comptroller’s Handbook Booklet and Rescissions
April 30, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) issued today the revised “Credit Card Lending” booklet of the Comptroller’s Handbook, which is prepared for use by OCC examiners in connection with the examination and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations (collectively, banks).
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Federal Reserve issues FOMC statement April 28, 2021
April 29, 2021 / Source: FRB
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
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Federal Reserve Board issues enforcement actions with former employee of Barclays Bank PLC and former employee of Texas Community Bank
April 29, 2021 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement actions.
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FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas April 29, 2021
April 29, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate.