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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• FILs Banker Webinar: Update on the Standardized Export of Imaged Loan Documents Initiative

  January 31, 2019 / Source: FDIC

  The FDIC is hosting a webinar for financial institutions on February 19, 2019, from 2:00 p.m. to 3:00 p.m. Eastern Time. This webinar will provide an update on the standardized export of imaged loan documents initiative, which was first introduced in Financial Institution Letter (FIL)-22-2018: Advisory: FDIC Conducting Testing of the Standardized Export of Imaged Loan Documents.

• OCC Allows National Banks and Federal Savings Associations Affected by Severe Winter Weather to Close

  January 31, 2019 / Source: OCC

  The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected by severe winter weather in the Midwest and Northeast regions of the United States to close.

• January 30, 2019 Federal Reserve issues FOMC statement

  January 30, 2019 / Source: FRB

  Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate.

• Federal Open Market Committee reaffirms its “Statement on Longer-Run Goals and Monetary Policy Strategy”

  January 30, 2019 / Source: FRB

  The Federal Open Market Committee, at its annual organizational meeting this week, unanimously reaffirmed its "Statement of Longer-Run Goals and Monetary Policy Strategy" with an updated reference to the median of participants' estimates of the longer-run normal rate of unemployment in the most recent Summary of Economic Projections (December 2018).

• Agencies issue final rules giving FIs more flexibility in flood insurance acceptance

  January 29, 2019 / Source: Regulatory Report

  Final rules requiring financial institutions to accept flood insurance policies that meet the statutory definition of “private flood insurance” – and to allow financial institutions to exercise their own discretion in accepting other plans, including those by mutual aid societies – were made final Tuesday by federal banking and credit union regulators.

• Robust ACH Network Growth Continues in Fourth Quarter; Same Day ACH Volume Marks a Milestone

  January 29, 2019 / Source: NACHA

  ACH Network volume saw its biggest quarterly growth in more than a decade during the fourth quarter of 2018. Same Day ACH payments also passed a significant milestone.

• Federal Reserve Board will host public research conference on its stress testing framework in July

  January 28, 2019 / Source: FRB

  The Federal Reserve Board in July will host a public research conference on its stress testing framework.

• CFPB Announces Changes to Senior Leadership

  January 28, 2019 / Source: CFPB

  Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced leadership changes within the Bureau.

• FDIC Makes Public December 2018 Enforcement Actions

  January 25, 2019 / Source: FDIC

  The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December.

• Shared National Credit review finds some improvement in credit quality, risk remains elevated in leveraged loans

  January 25, 2019 / Source: FRB

  Federal banking agencies find that risk in the portfolio of large syndicated bank loans has declined, due to improving conditions in most sectors.

• HMDA 2019 Webinar is Now Available!

  January 25, 2019

  2018 was another crazy year for HMDA. The major rule changes become effective and then changed for many banks on May 24, 2018 due to the passage of S.2155. This presentation will cover the basics like scope, transactional and institution coverage, as well, as a discussion about the temporary open-end loan exemption and the partial exemption under S.2155. This presentation will also cover frequently asked questions from our members.

• Office of Servicemember Affairs – Annual Report

  January 24, 2019 / Source: CFPB

  The Office of Servicemember Affairs at the Bureau monitors and analyzes complaints from servicemembers, veterans, and their families (collectively referred to as “servicemembers” in this report).

• Federal Reserve Board announces approval of proposals by Equity Bank

  January 24, 2019 / Source: FRB

  The Federal Reserve Board on Wednesday announced its approval of the proposals under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act by Equity Bank.

• Consumer Financial Protection Bureau Settles with Broker of High-interest Credit Offers

  January 23, 2019 / Source: CFPB

  Individual Violated Consumer Financial Protection Act in Brokering Credit Offers to Veterans

• FHFA House Price Index Up 0.4 Percent in November

  January 23, 2019 / Source: FHFA

  U.S. house prices rose in November, up 0.4 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI).

• Federal Reserve Board issues enforcement action with former employee of CFG Community Bank

  January 22, 2019 / Source: FRB

  Federal Reserve Board issues enforcement action

• Federal Reserve Board’s Industrial Production and Capacity Utilization statistical release marks the 100th anniversary of Board data on industrial production

  January 22, 2019 / Source: FRB

  The publication on Friday of the Federal Reserve Board's monthly statistical release on industrial production and capacity utilization marks the 100th anniversary of Board data on industrial production.

• Consumer Financial Protection Bureau Asks Congress for Clear Authority to Supervise for Compliance with the Military Lending Act

  January 18, 2019 / Source: CFPB

  Consumer Financial Protection Bureau Director Kathleen L. Kraninger today issued the following statement announcing that she has asked Congress to grant the CFPB clear authority to supervise for compliance with the Military Lending Act (MLA).

• OCC Enforcement Actions and Terminations for January 2019

  January 18, 2019 / 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.

• Morris Morgan Named OCC’s Chief Operating Officer

  January 17, 2019 / Source: OCC

  The Office of the Comptroller of the Currency (OCC) today announced Morris Morgan as its new Senior Deputy Comptroller and Chief Operating Officer.

• Board of Directors: BSA Webinar is Now Available!

  January 17, 2019

  The Board of Directors has the critical role of oversight over the entirety of the Bank Secrecy Act Program. The Board also has the duty to ensure that the BSA Officer is sufficiently experienced to run the program and that staff and management have the skills, training and resources needed to comply with the BSA requirements and meet the Act’s stated mission: to prevent money laundering and fraud. This presentation will also cover regulator expectations related to how the board reviews its own effectiveness and ensures that the bank is meeting the needs. This presentation will also cover BSA consent orders due to lack of Board oversight and hot topics.

• Federal Reserve Board launches interactive mobile application to teach students about security and design features of Federal Reserve notes

  January 16, 2019 / Source: FRB

  The Federal Reserve Board on Wednesday launched an interactive smartphone and tablet application designed to teach elementary school students about the security and design features of Federal Reserve notes.

• Federal Reserve Board launches article series on financial conditions and concerns of consumers and communities

  January 16, 2019 / Source: FRB

  The Federal Reserve Board on Wednesday announced Consumer & Community Context, an article series that features original analysis about the financial conditions and experiences of consumers and communities, including traditionally underserved and economically vulnerable households and neighborhoods.

• Supreme Court Won’t Hear Broad Challenge to CFPB’s Structure

  January 15, 2019 / Source: Bloomberg

  The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation.

• FILs Consolidated Reports of Condition and Income

  January 15, 2019 / Source: FDIC

  The Consolidated Reports of Condition and Income (Call Report) for the December 31, 2018, report date must be submitted to the agencies' Central Data Repository (CDR) by Wednesday, January 30, 2019.

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