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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Bureau of Consumer Financial Protection Issues Rule to Implement and Clarify New HMDA Amendments
August 31, 2018 / Source: CFPB
Today the Bureau of Consumer Financial Protection (Bureau) issued an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which amended the Home Mortgage Disclosure Act (HMDA).
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FDIC Makes Public July Enforcement Actions
August 31, 2018 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July.
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Agencies extend deadline for certain resolution plan submissions
August 30, 2018 / Source: FRB
The Federal Reserve Board and the FDIC on Thursday announced that they have extended the next resolution plan filing deadline for a designated nonbank to December 31, 2019, and the deadline for four foreign banking organizations (FBOs) to July 1, 2020.
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Federal Reserve Board issues enforcement action and announces termination of enforcement action
August 30, 2018 / Source: FRB
Federal Reserve Board issues enforcement action with The Bank of New York Mellon and announces termination of enforcement action with UCB Financial Group, Inc.
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Interim final rule expanding the applicability of the Board’s small bank holding company policy…
August 29, 2018 / Source: FRB
Federal Reserve Board issues interim final rule expanding the applicability of the Board's small bank holding company policy statement
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OCC Issues Fourth Quarter 2018 and First Quarter 2019 CRA Evaluation Schedule
August 29, 2018 / 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 fourth quarter of 2018 and first quarter of 2019.
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OCC Seeks Comments on Modernizing Community Reinvestment Act Regulations
August 29, 2018 / Source: OCC
The Office of the Comptroller of the Currency today released an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on the best ways to modernize the regulatory framework implementing the Community Reinvestment Act (CRA).
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OCC Seeks Members for Its Mutual Savings Association Advisory Committee
August 28, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) is seeking nominations for members of its Mutual Savings Association Advisory Committee (MSAAC).
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OCC Seeks Members for Its Minority Depository Institutions Advisory Committee
August 28, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) is seeking nominations for members of its Minority Depository Institutions Advisory Committee (MDIAC).
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Forward Looking Supervision
August 28, 2018 / Source: FDICIG
The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General issued an evaluation report that highlights the FDIC’s Forward Looking Supervision approach in conducting examinations of financial institutions.
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FFIEC CRA Alert - CRA Data Entry Software Version 2018 Release 2
August 26, 2018 / Source: FFIEC
The FFIEC CRA website has recently been updated.
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Federal Reserve announces results of offering of seven-day term deposits on August 23
August 26, 2018 / Source: FRB
On August 23, 2018, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility.
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New TRID Revisions Line by Line Webinar Part 2 is Now Available!
August 24, 2018
Compliance Alliance's New TRID Revisions Line by Line Webinar will give a brief overview of the amendments and then quickly dive into the details of the revised content of the disclosures. The webinar will primarily focus on completing and reviewing the Loan Estimate and Closing Disclosures line by line. Specifically, we will go into detail regarding the specific content of the forms and how to complete the forms with regard to various types of loans. This presentation will be done in a two-part series. Part 1 of the webinar will cover line-by-line completion and review of the Loan Estimate and Part 2 will cover the Closing Disclosure.
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Interim final rules expanding examination cycles for qualifying small banks…
August 23, 2018 / Source: FRB
Agencies issue interim final rules expanding examination cycles for qualifying small banks and U.S. branches and agencies of foreign banks.
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Interim Rule Regarding the Treatment of Certain Municipal Securities as High-Quality Liquid Assets
August 23, 2018 / Source: FRB
Three federal banking agencies issue interim final rule regarding the treatment of certain municipal securities as high-quality liquid assets.
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Sentencing Hearing Scheduled for Kankakee County Man Guilty of Bank Fraud
August 22, 2018 / Source: FDICIG
Sentencing is scheduled on Dec. 6, 2018, for Daniel Ballard, 59, of Bourbonnais, Ill., for bank fraud related to construction loans.
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Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act
August 22, 2018 / Source: FDIC
The FDIC has issued modifications to its Statement of Policy (SOP) for Section 19 of the Federal Deposit Insurance (FDI) Act. Section 19 prohibits, without the prior written consent of the FDIC, a person convicted of any criminal offense involving dishonesty, breach of trust, money laundering, or who has entered into a pretrial diversion or similar program (program entry) in connection with a prosecution for such offense, from participating in the affairs of an FDIC-insured institution.
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Former president and CEO of NBRS Financial prohibited from participating in the banking industry
August 20, 2018 / Source: FRB
Federal Reserve Board prohibits former president and CEO of NBRS Financial from participating in the banking industry.
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OCC Enforcement Actions and Terminations for August 2018
August 20, 2018 / 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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Federal Reserve Board announces termination of enforcement actions
August 16, 2018 / Source: FRB
Federal Reserve Board announces termination of enforcement actions with Flagstar Bancorp, Inc., and Santander Holdings USA, Inc.
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Federal Reserve to offer seven-day term deposits on August 23
August 16, 2018 / Source: FRB
The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in August.
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Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on CRA Ratings
August 16, 2018 / Source: OCC
Community Reinvestment Act: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings
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Bank Accounting Advisory Series Updated
August 15, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released an update to the Bank Accounting Advisory Series (BAAS).
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Future Efforts Toward Advancing API Standardization Across the Financial Services Ecosystem
August 15, 2018 / Source: NACHA
API Standardization Industry Group Releases White Paper Outlining Group’s Approach, Progress and Future Efforts Toward Advancing API Standardization Across the Financial Services Ecosystem.
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FBI Warns of ‘Unlimited’ ATM Cashout Blitz
August 14, 2018 / Source: KrebsonSecurity
The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an “ATM cash-out,” in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few hours.