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
September 28, 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 August. There are no administrative hearings scheduled for October 2018.
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Federal Reserve Board announces termination of enforcement action
September 28, 2018 / Source: FRB
Federal Reserve Board announces termination of enforcement action with Presidential Holdings, Inc.
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Truth in Lending Act: Revised Comptroller’s Handbook Booklet and Rescissions
September 26, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) issued today the “Truth in Lending Act” (TILA) booklet of the Comptroller's Handbook. This updated booklet replaces a similarly titled booklet issued in December 2014.
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Liquidity Coverage Ratio Rule: Interim Final Rule
September 26, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) published an interim final rule in the Federal Register on August 31, 2018, that amends the OCC’s liquidity coverage ratio (LCR) rule to treat liquid and readily-marketable, investment grade municipal obligations as high-quality liquid assets (HQLA).
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Federal Open Market Committee release economic projections from the September 25-26 FOMC meeting
September 26, 2018 / Source: FRB
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 25-26 FOMC meeting
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Bureau of Consumer Financial Protection Issues Report and RFI on the Bureau’s Sources and Uses of Da
September 26, 2018 / Source: CFPB
The Bureau of Consumer Financial Protection (Bureau) today issued a report and Request for Information (RFI) regarding the Bureau’s sources of data and how data is used. The report provides transparency into how the Bureau collects and uses data and the accompanying RFI gives the public an opportunity to comment on those practices.
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OCC Releases Bank Supervision Operating Plan for Fiscal Year 2019
September 25, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2019.
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Federal Reserve Board announces approval of application by Compass Bank
September 25, 2018 / Source: FRB
The Federal Reserve Board on Tuesday announced its approval of the application under section 9 of the Federal Reserve Act by Compass Bank, Birmingham, Alabama, to establish a branch in Houston, Texas.
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Advisory on the FATF-Identified Jurisdictions with AML/CFT Deficiencies
September 24, 2018 / Source: FinCEN
On June 29, 2018, the Financial Action Task Force (FATF) updated its list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies. The changes may affect U.S. financial institutions’ obligations and risk-based approaches with respect to relevant jurisdictions.
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Bureau Of Consumer Financial Protection To Open Southeast Regional Office In Atlanta
September 24, 2018 / Source: CFPB
The Bureau of Consumer Financial Protection (Bureau) today announced it will be relocating its southeast regional office from Washington, D.C. to Atlanta, Georgia.
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Federal Reserve Board seeks public comment on proposal to amend Regulation H and Regulation K
September 21, 2018 / Source: FRB
The Federal Reserve Board on Friday requested public comment on a proposal to amend Regulation H (Membership of State Banking Institutions in the Federal Reserve System) and Regulation K (International Banking Operations) to repeal provisions that incorporate the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act).
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OCC Reports Mortgage Performance Unchanged
September 21, 2018 / Source: OCC
Performance of first-lien mortgages remained largely unchanged during the second quarter of 2018 compared with a year earlier, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgages.
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Agencies Approve Amendments to Swap Margin Rule
September 21, 2018 / Source: FDIC
Five federal agencies approved final amendments to swap margin requirements to conform with recent rule changes that impose new restrictions on certain qualified financial contracts of systemically important banking organizations (QFC Rules). Under the amendments, legacy swaps entered into before the applicable compliance date will not become subject to the margin requirements if they are amended solely to comply with the requirements of the QFC Rules.
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OCC Enforcement Actions and Terminations for September 2018
September 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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Same Day ACH Will Be Enhanced to Meet ACH End-User Needs
September 20, 2018 / Source: NACHA
NEW NACHA RULES WILL EXPAND ACCESS TO SAME DAY ACH, INCREASE THE PER-TRANSACTION DOLLAR LIMIT, AND SPEED FUNDS AVAILABILITY FOR SAME DAY AND NEXT-DAY ACH
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Opportunity for organizations that serve economically vulnerable populations to receive support
September 19, 2018 / Source: CFPB
The Office of Community Affairs—which focuses on economically vulnerable consumers—is looking for approximately 40 organizations from across the country that are interested in using the Your Money, Your Goals toolkit, issue-focused booklets, and companion guides to help build the financial well-being of the people they serve.
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Recovery Planning Guidelines: Notice of Proposed Rulemaking; Revised Guidelines
September 19, 2018 / Source: OCC
he Office of the Comptroller of the Currency (OCC) is proposing to amend its enforceable guidelines relating to recovery planning standards (guidelines) for insured national banks, insured federal savings associations, and insured federal branches (banks) in order to limit the application of the guidelines to the largest, most complex banks and thereby provide regulatory burden relief to smaller, less complex institutions.
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Covered Savings Associations: Notice of Proposed Rulemaking
September 18, 2018 / Source: OCC
On September 18, 2018, the Office of the Comptroller of the Currency (OCC) issued a proposed rule to allow federal savings associations with total consolidated assets of $20 billion or less as of December 31, 2017, to elect national bank powers and operate as covered savings associations.
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Agencies propose rule regarding the treatment of high volatility commercial real estate
September 18, 2018 / Source: FRB
Three federal banking agencies on Tuesday invited public comment on a proposal to modify the agencies' capital rules for high volatility commercial real estate exposures, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act.
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FDIC Releases Results of Summary of Deposits Survey
September 17, 2018 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released the results of its annual survey of branch office deposits for all FDIC-insured institutions. The latest data are as of June 30, 2018.
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Joint Release/Federal and State Financial Regulatory Agencies Issue Interagency Statement ...
September 17, 2018 / Source: FDIC
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators recognize the serious impact of Hurricane Florence on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.
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September Compliance Huddle is Now Available!
September 14, 2018
September Compliance Huddle is now available
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FDIC Seeks Comment on the Treatment of Reciprocal Deposits
September 13, 2018 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on a proposed rule to implement Section 202 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) to exempt certain reciprocal deposits from being considered as brokered deposits for certain insured institutions.
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Introducing a New Bureau Resource, Interactive Bureau Regulations
September 13, 2018 / Source: CFPB
In an effort to update and streamline the eRegulations tool, the Bureau released a new version of its electronic regulations platform called Interactive Bureau Regulations (previously known as eRegulations).
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Bureau of Consumer Financial Protection Issues Updated FCRA Model Disclosures
September 12, 2018 / Source: CFPB
The Bureau of Consumer Financial Protection (Bureau) today issued an interim final rule updating two model disclosures to reflect changes made to the Fair Credit Reporting Act (FCRA) by recent legislation.