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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January 31, 2020 / Source: OCC
Federal bank regulatory agencies find that the share and amount of loan commitments with the lowest supervisory ratings rose slightly between 2018 and 2019, according to the Shared National Credit (SNC) Program Review.
January 31, 2020 / 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. There are no administrative hearings scheduled for February 2020.
Federal Reserve finalizes rule to simplify and increase the transparency of the Board’s rules for determining control of a banking organization
January 30, 2020 / Source: FRB
The Federal Reserve Board on Thursday finalized a rule to simplify and increase the transparency of the Board's rules for determining control of a banking organization. If a company has control over a banking organization, the company generally becomes subject to the Board's rules and regulations.
January 30, 2020 / Source: OCC
Five federal financial regulatory agencies on Thursday invited public comment on a proposal to modify regulations implementing the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds – known as "covered funds."
January 30, 2020 / Source: OCC
The Comptroller of the Currency today approved a proposed rule to revise the "covered funds" provisions in the regulations implementing Section 13 of the Bank Holding Company Act of 1956 (BHC Act), also known as the Volcker Rule.
January 29, 2020 / Source: Federal Reserve
Information received since the Federal Open Market Committee met in December 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.
Comptroller of the Currency Discusses Efforts to Strengthen Community Reinvestment Act Regulations, Condition of the Federal Banking System
January 29, 2020 / Source: OCC
WASHINGTON—Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the House Financial Services Committee.
January 28, 2020 / Source: OCC
The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites by Hilton in New Orleans, March 3-4, for directors of national community banks and federal savings associations supervised by the OCC.
January 28, 2020 / Source: FDIC
Between 2010 and 2015, the U.S. agricultural industry enjoyed generally robust economic conditions. More recently, the industry has been experiencing low commodity prices, trade and tariff uncertainties, impacts from adverse weather conditions, and global supply and demand issues. This advisory reminds financial institutions engaged in agricultural lending to maintain sound underwriting standards, strong credit administration practices, effective risk management strategies, and appropriate allowances for losses and capital levels through the credit cycle.
January 27, 2020 / Source: Bank Info Security
Aleksey Burkov, a Russian national who was extradited to the U.S. from Israel in November, pleaded guilty Thursday to federal charges related to owning and operating a site called "Cardplanet," which trafficked in stolen payment card data, according to the Justice Department.
January 27, 2020 / Source: NACHA
Easy is in the eye of the beholder. Assembling Ikea furniture is a piece of cake for some; others think it takes a master’s in engineering. While we hope using the ACH Network is nowhere near as challenging, we know there can be friction for some. Nacha has some exciting new tools to reduce that and make the ACH Network even more user-friendly.
January 24, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) today issued a policy statement providing a common-sense framework on how it intends to apply the "abusiveness" standard in supervision and enforcement matters.
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes
January 24, 2020 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Puerto Rico affected by earthquakes.
OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others
January 23, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (CEO) and other members of the bank’s operating committee.
January 23, 2020 / Source: FDICOIG
Real Estate Company Ordered to Pay Criminal Fine and Restitution.
January 22, 2020 / Source: NACHA
The ACH Network closed out 2019 with a strong final quarter featuring impressive growth across several areas, particularly Same Day ACH.
January 22, 2020 / Source: FHFA
U.S. house prices rose in November, up 0.2 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).
January 21, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 (FDPA) and its implementing regulations.
January 21, 2020 / Source: NACHA
This is the second in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look at what Originating Depository Financial Institutions (ODFIs) can do to prepare.
January 17, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today announced an additional member who will serve on the Taskforce on Federal Consumer Financial Law.
January 17, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) today issued a joint statement on heightened cybersecurity risk to remind supervised financial institutions of sound cybersecurity risk management principles.
January 16, 2020 / Source: FDIC
As part of their ongoing commitment to strengthening bank-community partnerships, the Federal Deposit Insurance Corporation (FDIC) and U.S. Small Business Administration (SBA) today released two updates to the popular Money Smart for Small Business curriculum.
January 16, 2020 / 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.
Former Chief Lending Officer Of a New Jersey Bank Admits Making False Statements To United States In An Effort To Secure Federal Guarantees On Loans
January 15, 2020 / Source: FDICOIG
A Pennsylvania man admitted improperly securing a federal guarantee on a loan by making false statements to the Small Business Administration (SBA) about the creditworthiness of those loans while serving as the chief lending officer of a New Jersey bank, U.S. Attorney Craig Carpenito announced.
January 15, 2020 / Source: BankInfo Security
A federal judge in Atlanta has given final approval to a settlement that resolves a class action lawsuit against credit bureau Equifax, which in 2017 suffered one of the largest data breaches in history.