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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Announcement for Chat Feature Users
June 27, 2019
Compliance Alliance is reminding all members, but especially those that regularly use the chat feature that access to this service will change as of June 30, 2019 if you currently use Internet Explorer 11.
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OCC Bulletin: Expanding Eligibility to File the FFIEC 051 Call Report
June 27, 2019 / Source: OCC
On June 21, 2019, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the agencies) published a final rule to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
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Nacha Creates Voluntary Formatting Standard to Help ID Questionable Payroll Credits
June 27, 2019 / Source: NACHA
Payroll impersonation and redirection fraud is a fact of life today, but there’s a new way to help fight it.
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FDIC and CFPB Host Webinar on Elder Financial Abuse Prevention
June 26, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) are co-hosting a webinar to outline strategies to address and prevent elder financial abuse.
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OCC Reports Improvement in Mortgage Performance
June 26, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2019.
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Chief Innovation Officer Discusses OCC Support of Responsible Innovation
June 25, 2019 / Source: OCC
The agency’s Chief Innovation Officer Beth Knickerbocker today discussed the Office of the Comptroller of the Currency’s (OCC) efforts to support responsible innovation in the federal banking system during a hearing held by the Task Force on Financial Technology of the U.S. House of Representatives Committee on Financial Services.
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FDIC Hosts Interagency Conference Focusing on Minority Depository Institutions
June 25, 2019 / Source: FDIC
Announces New MDI Initiatives and Publishes Results of New MDI Study
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Agencies Issue Final Amendments to Regulation CC Regarding Funds Availability
June 24, 2019 / Source: CFPB
The Consumer Financial Protection Bureau and the Federal Reserve Board today jointly published amendments to Regulation CC that implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers.
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FDIC Names Amy C. Thompson as Director of the Office of Communications
June 24, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced the appointment of Amy C. Thompson as Director of the Office of Communications.
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Electronic Fingerprinting for Background Checks and Revised Comptroller’s Licensing Manual Booklets
June 21, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) is moving to electronic fingerprinting to facilitate background checks performed in connection with applications and notices submitted to the OCC, including applications for charters, notices of acquisition of control, and notices to replace board members or senior management in certain institutions. The OCC will begin using the new process in July 2019.
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June 21, 2019 OCC Enforcement Actions and Terminations
June 21, 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.
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Risk Management Guidance for Higher-Loan-to-Value Lending Activities in Communities Targeted for Revitalization
June 20, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) continues to support the efforts of national banks, federal savings associations, and federal branches and agencies (collectively, banks) to assist distressed communities targeted for revitalization, stabilization, or redevelopment (collectively, revitalization) through responsible residential mortgage lending.
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More Than 4.3 Million Homeowners Helped Since Conservatorships
June 20, 2019 / Source: FHFA
The Federal Housing Finance Agency (FHFA) today released its first quarter 2019 Foreclosure Prevention Report,which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 38,968 foreclosure prevention actions in the first quarter of 2019, bringing the total number of foreclosure prevention actions to 4,322,804 since September 2008.
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Federal Reserve Board and Federal Open Market Committee release economic projections from the June 18-19 FOMC meeting
June 19, 2019 / Source: FRB
The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the June 18-19 meeting.
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Federal Reserve issues FOMC statement June 19, 2019
June 19, 2019 / Source: FRB
Information received since the Federal Open Market Committee met in May indicates that the labor market remains strong and that economic activity is rising at a moderate rate.
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OCC Reports First Quarter 2019 Bank Trading Revenue
June 18, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $10 billion in the first quarter 2019, which was $5.9 billion, or 141 percent, more than the previous quarter.
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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of South Dakota Affected by Severe Winter Storm, Snowstorm, and Flooding
June 18, 2019 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of South Dakota affected by severe winter storm, snowstorm, and flooding.
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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms and Flooding
June 18, 2019 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Arkansas affected by severe storms and flooding.
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Agencies release list of distressed or underserved nonmetropolitan middle-income geographies
June 17, 2019 / Source: FRB
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2019 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition.
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Agencies issue final rule to streamline regulatory reporting requirements and commit to further review of reporting burdens for small institutions
June 17, 2019 / Source: FRB
The three federal bank regulatory agencies adopted a final rule to streamline regulatory reporting requirements for small institutions.
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FDIC Cautions Customers That FDIConnect.com Is Not Affiliated With a Government Agency and Should Not Be Confused With FDICconnect.gov
June 14, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) advises bank customers on the potential for confusion between FDIConnect.com and the FDIC-run website, FDICconnect.gov.
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OCC Hosts Compliance and Operational Risk Workshops in Boston
June 14, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) will host two workshops in Boston at the OCC Boston Field Office, July 30 and 31, for directors of national community banks and federal savings associations supervised by the OCC.
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Federal Reserve Board publishes summary of feedback from roundtable discussions on the current state of, and potential revisions to, the Community Reinvestment Act
June 13, 2019 / Source: FRB
The Federal Reserve Board on Thursday published, "Perspectives from Main Street: Stakeholder Feedback on Modernizing the Community Reinvestment Act," a summary of feedback received from bankers and community groups during a series of 29 roundtable discussions on the current state of, and potential revisions to, the Community Reinvestment Act (CRA).
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FDIC’s Consumer Compliance Supervisory Highlights
June 13, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued the new Consumer Compliance Supervisory Highlights publication.
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FHFA 2018 Report to Congress Includes Legislative Recommendations
June 12, 2019 / Source: FHFA
Washington, D.C. — The Federal Housing Finance Agency (FHFA) today released its 2018 Report to Congress. The report meets the requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008.