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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OCC Invites Comment on Proposed Rule to Change Applicability Thresholds for Regulatory Capital and Liquidity Requirements
October 31, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced it is inviting comment on a proposed rule that would establish four categories of standards and apply tailored capital and liquidity requirements for certain banking organizations with more than $100 billion in total consolidated assets.
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Federal Reserve Board invites public comment on framework that would more closely match regulations for large banking organizations with their risk profiles
October 31, 2018 / Source: FRB
The Federal Reserve Board on Wednesday invited public comment on a framework that would more closely match the regulations for large banking organizations with their risk profiles.
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Agencies propose rule to update calculation of derivative contract exposure amounts under regulatory capital rules
October 31, 2018 / Source: FRB
Three federal banking agencies on Tuesday invited public comment on a proposal to update their standards for how firms measure counterparty credit risk posed by derivative contracts under the agencies' regulatory capital rules.
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Proposed Removal of the FDIC’s Part 350 Annual Disclosure Statement Requirement
October 30, 2018 / Source: FDIC
On October 25, 2018, the FDIC published the attached notice of proposed rulemaking to rescind and remove Part 350 of its regulations, which is entitled Disclosure of Financial and Other Information by FDIC Insured State Nonmember Banks. Consistent with the objectives of Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which includes the elimination of unnecessary regulations, the FDIC is requesting public comment on the proposed rescission and removal of Part 350.
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FHFA Issues Proposed Rule on Federal Home Loan Bank Housing Goals
October 30, 2018 / Source: FHFA
The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals.
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Federal Reserve Board announces approval of application by Joint Stock Commercial Bank for Foreign Trade of Vietnam
October 29, 2018 / Source: FRB
The Federal Reserve Board on Monday announced its approval of the application by Joint Stock Commercial Bank for Foreign Trade of Vietnam, Hanoi, Vietnam, to establish a representative office in New York, New York.
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Fannie Mae Announces Scheduled Release of Third Quarter 2018 Financial Results
October 29, 2018 / Source: Fannie Mae
Company to Host Media Conference Call
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Public Statement Regarding Payday Rule Reconsideration and Delay of Compliance Date
October 26, 2018 / Source: CFPB
The Bureau expects to issue proposed rules in January 2019 that will reconsider the Bureau's rule regarding Payday, Vehicle Title, and Certain High-Cost Installment Loans and address the rule's compliance date.
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Remittance rule assessment report
October 26, 2018 / Source: CFPB
Bureau releases its assessment report of the Remittance Rule.
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FDIC Makes Public September 2018 Enforcement Actions
October 26, 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 September. There are no administrative hearings scheduled for November 2018.
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Consumer Complaints Webinar is Now Available!
October 26, 2018
How the bank responds to consumer complaints not only impacts your public reputation but it’s also a critical component in ensuring that your CMS is working. This presentation will discuss the definition of “complaint”, the expectations for your complaint response program, regulatory requirements related to complaints and how complaint management can impact your Consumer Compliance Rating System score.
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Federal Financial Institutions Regulatory Agencies Announce Availability of 2017 Small Business, Small Farm, and Community Development Lending Data
October 25, 2018 / Source: FFIEC
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA.
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Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2019
October 25, 2018 / Source: FRB
The Federal Reserve Board on Thursday announced the annual indexing of two amounts used in determining reserve requirements of depository institutions. These amounts are the reserve requirement exemption amount and the low reserve tranche.
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Community Affairs Webinar: Expanding Access to Safe Transaction Accounts
October 24, 2018 / Source: FDIC
The FDIC will conduct a webinar on Wednesday, October 31, 2018, at 2 p.m. Eastern Time on expanding access to safe transaction accounts. Registration is required. Safe and affordable transaction and savings accounts build positive banking relationships and promote economic inclusion and community development.
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Federal Reserve Board issues enforcement action
October 24, 2018 / Source: FRB
Federal Reserve Board issues enforcement action with Joel Shumate
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OCC Assesses $100 Million Civil Money Penalty Against Capital One
October 23, 2018 / Source: OCC
The Office of the Comptroller of the Currency (OCC) recently assessed a $100 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. for deficiencies in the bank’s Bank Secrecy Act/Anti-Money Laundering program.
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Bureau releases Complaint snapshot: 50 state report
October 23, 2018 / Source: CFPB
The Bureau released our Complaint snapshot: 50 state report, which illustrates both the unique—and shared—challenges reported by people in all 50 states and the District of Columbia.
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Share of U.S. Households without a Bank Account Continues to Drop
October 23, 2018 / Source: FDIC
For the third consecutive survey period, the number of U.S. households without a bank account fell, according to the results of the 2017 biennial National Survey of Unbanked and Underbanked Households released today by the Federal Deposit Insurance Corporation (FDIC).
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Treasury, IRS issue proposed regulations on new Opportunity Zone tax incentive
October 22, 2018 / Source: IRS
The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive.
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Northshore Contractor Pleads Guilty to Conspiracy to Defraud First NBC Bank
October 22, 2018 / Source: FDICIG
The U.S. Attorney’s Office, Eastern District of Louisiana announced that JEFFREY DUNLAP, age 44, a resident of Slidell, Louisiana and owner of Phoenix Civil Contractors (“Phoenix”) pleaded guilty today to one count of conspiracy to defraud First NBC Bank, the New Orleans-based bank that failed in April 2017.
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Cybersecurity Preparedness Resource
October 19, 2018 / Source: FDIC
As part of the FDIC's Community Banking Initiative, the agency is adding to its cybersecurity awareness resources for financial institutions. This includes two new vignettes for the Cyber Challenge, which consists of exercises that are intended to encourage discussions of operational risk issues and the potential impact of information technology disruptions on common banking functions.
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OCC Enforcement Actions and Terminations for October 2018
October 19, 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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FFIEC Launches New BSA/AML InfoBase on its Website
October 18, 2018 / Source: FFIEC
The Federal Financial Institutions Examination Council (FFIEC) launched the redesigned Bank Secrecy Act/Anti-Money Laundering (BSA/AML) InfoBase website, which is aimed at sharing bank examination procedure information with examiners, financial institutions, the public, and other stakeholders.
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CFPB Fall 2018 rulemaking agenda
October 18, 2018 / Source: CFPB
Under the Regulatory Flexibility Act, Federal agencies must publish regulatory agendas twice a year. As an independent regulatory agency, the Bureau has been voluntarily participating in the Unified Agenda , which is led by the Office of Management and Budget (OMB).
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Minutes of the Federal Open Market Committee, September 25-26, 2018
October 18, 2018 / Source: FRB
The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 25-26, 2018. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.