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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OCT 31, 2019: Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions
October 31, 2019 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) and Federal Reserve Board today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2020.
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OCT 31, 2019: Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
October 31, 2019 / Source: CFPB
The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will increase from $26,700 to $27,200.
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October 30, 2019: Federal Reserve issues FOMC statement
October 30, 2019 / Source: FRB
Information received since the Federal Open Market Committee met in September indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
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Consolidated Reports of Condition and Income: Request for Comment on Reporting Data on Loans to Small Businesses and Small Farms in the Call Report
October 30, 2019 / Source: OCC
On October 17, 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 request for comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Consolidated Reports of Condition and Income (call report) so that the reported data better reflect lending to these sectors of the U.S. economy. Comments must be received by the agencies no later than December 16, 2019.
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Federal Bank Regulatory Agencies Issue Final Rule to Simplify Capital Calculation for Community Banks
October 29, 2019 / Source: FDIC
Federal bank regulatory agencies finalized a rule that simplifies capital requirements for community banks by allowing them to adopt a simple leverage ratio to measure capital adequacy.
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Agencies Finalize Changes to Resolution Plan Requirements; Keeps Requirements for Largest Firms and Reduces Requirements for Smaller Firms
October 29, 2019 / Source: FDIC
The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday announced that they had finalized a rule that modifies their resolution plan requirements for large firms. The rule retains resolution plan elements in place for the largest firms, while reducing requirements for smaller firms that pose less risk to the financial system.
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Agencies Propose Rule to Amend the Swap Margin Rule
October 29, 2019 / Source: FDIC
Five federal agencies today announced a proposal to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities.
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Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank
October 28, 2019 / Source: FDIC
Louisa Community Bank in Louisa, Ky., was closed today by the Kentucky Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Kentucky Farmers Bank Corporation in Catlettsburg, Ky., to assume all of the deposits of Louisa Community Bank.
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Buckeye State Bank Assumes All of the Deposits of Resolute Bank
October 28, 2019 / Source: FDIC
Resolute Bank in Maumee, Ohio, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Buckeye State Bank in Powell, Ohio, to assume all of the deposits of Resolute Bank.
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October 25, 2019: FDIC Makes Public September Enforcement Actions
October 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 September.
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Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss
October 25, 2019 / Source: FDICOIG
Two defendants pleaded guilty to their participation in a massive fraud scheme involving a solar energy company in Benicia, that defrauded investors of approximately $1 billion, U.S. Attorney McGregor W. Scott announced.
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U.S. Financial Regulatory Agencies Join the Global Financial Innovation Network
October 24, 2019 / Source: OCC
The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) today announced joining the Global Financial Innovation Network (GFIN).
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CFPB to Host Symposium on November 6
October 24, 2019 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) announced today that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019 at 9:30 a.m.
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Request for Information on the Use of the Uniform Financial Institutions Rating System
October 23, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation and the Federal Reserve Board are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System (more commonly known as CAMELS ratings).
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U.S. DEPARTMENT OF LABOR PROPOSES NEW ELECTRONIC DISCLOSURE RULE
October 23, 2019 / Source: DOL
Consistent with President Donald J. Trump’s Executive Order 13487, Strengthening Retirement Security in America, the U.S. Department of Labor today announced a proposed rule to allow online retirement plan disclosures to reduce printing and mail expenses for job creators and make disclosures more readily accessible and useful for America’s workers.
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Licensing: Revised Comptroller’s Licensing Manual Booklets
October 22, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) issued today the “Branches and Relocations,” “Charters,” “Federal Branches and Agencies,” and “General Policies and Procedures” booklets of the Comptroller’s Licensing Manual.
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FDIC Advisory Committee on Economic Inclusion to Meet Today
October 22, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, October 22, to discuss developments in credit scoring and underwriting, the status of the mortgage markets, and efforts to create sustainable bank accounts. Committee members will also share brief insights into key challenges facing their communities and organizations.
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Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income (Call Report)
October 21, 2019 / Source: FDIC
The federal banking agencies are requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Call Report.
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FDIC and Fed Request Information on the Use and Impact of CAMELS Ratings
October 21, 2019 / Source: FDIC
In keeping with ongoing initiatives to increase transparency and improve efficiency, the Federal Deposit Insurance Corporation and Federal Reserve Board are inviting public comment on their use of the Uniform Financial Institutions Rating System, also known as the CAMELS rating system.
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News Release 2019-121: OCC Enforcement Actions and Terminations
October 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.
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Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances
October 18, 2019 / Source: FRB
The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances.
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Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank
October 17, 2019 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement action.
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Federal Financial Regulatory Agencies Seek Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses and Proposed Interagency Guidance on Credit Risk Review Systems
October 17, 2019 / Source: OCC
Four federal financial regulatory agencies today requested comment on a proposed Interagency Policy Statement on Allowances for Credit Losses.
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Adam West Reviews Compliance Alliance’s Popular Bank Compliance Solutions
October 16, 2019
Adam West, who dives deep into the world of personal finance: industry trends, movers-and-shakers, common questions, relevant news, and much more for the blog, BadCredit.org—here his most recent article is on C/A's compliance solutions for community banks of all sizes. West gives a great overview and then dives right into the details of how C/A got off the ground, and what keeps them at the forefront of consumer and federal bank compliance.
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Speech: Digital Currencies, Stablecoins, and the Evolving Payments Landscape
October 16, 2019 / Source: FRB
Governor Lael Brainard at The Future of Money in the Digital Age, Sponsored by the Peterson Institute for International Economics and Princeton University’s Bendheim Center for Finance, Washington, D.C.