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.
Whitelist info@compliancealliance.com to ensure that you receive your update email.
If you're still having difficulties receiving this Daily Email Campaign, please contact us at once through info@compliancealliance.com.
-
OCC Hosts Mutual Savings Association Advisory Committee Meeting April 21 Via Teleconference
March 30, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, April 21, 2020, via teleconference. The teleconference is open to the public and will begin at 10:00 a.m. Eastern Daylight Time (EDT).
-
OCC Reports Fourth Quarter 2019 Bank Trading Revenue
March 30, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $7.2 billion in the fourth quarter 2019, which was $4.0 million, or 0.1 percent, less than the previous quarter.
-
Agencies Announce Two Actions to Support Lending to Households and Businesses
March 27, 2020 / Source: OCC
The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banking organizations to continue lending to households and businesses.
-
FDIC Makes Public February 2020 Enforcement Actions
March 27, 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 February.
-
Statement of the Comptroller of the Currency on the Condition of the Federal Banking System and the Response to COVID-19
March 27, 2020 / Source: OCC
Comptroller of the Currency Joseph M. Otting made the following statement during today’s Financial Stability Oversight Council meeting regarding the condition of the federal banking system and its response to the COVID-19 national emergency.
-
Federal agencies encourage banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses affected by COVID-19
March 26, 2020 / Source: FRB
Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.
-
Federal Reserve offers regulatory reporting relief to small financial institutions affected by the coronavirus
March 26, 2020 / Source: FRB
The Federal Reserve recognizes that small financial institutions may need additional time to submit certain regulatory reports in light of staffing priorities and disruptions caused by the Coronavirus Disease 2019 (COVID-19).
-
CFPB Provides Flexibility During COVID-19 Pandemic
March 26, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) today announced that it is providing needed flexibility to enable financial companies to work with customers in need as they respond to the COVID-19 pandemic.
-
FinCEN Issues Advisory on the FATF-Identified Jurisdictions with AML/CFT Deficiencies
March 26, 2020 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to financial institutions regarding the Financial Action Task Force’s (FATF) updated list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies.
-
Pandemic Planning: Essential Critical Infrastructure Workers in the Financial Services Sector
March 25, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) recognizes the potential for the coronavirus (also referred to as COVID-19) to adversely affect bank operations, including the movement of workers responsible for the operations and maintenance of critical infrastructure.
-
Interagency Webinar on the Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus
March 25, 2020 / Source: FDIC
The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Consumer Financial Protection Bureau (the agencies) will jointly host a webinar for bankers to raise awareness of the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus.
-
Federal Reserve provides additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus
March 25, 2020 / Source: FRB
The Federal Reserve Board on Tuesday provided additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus.
-
Media Advisory: Consumer Financial Protection Bureau Resources for Consumers During COVID-19 Pandemic
March 24, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) has recently released several resources to help consumers take steps to protect their finances during the COVID-19 pandemic, including how to avoid financial scams and submit complaints to the Bureau.
-
Request for 2019 Diversity Self-Assessments from FDIC-Regulated Financial Institutions
March 24, 2020 / Source: FDIC
The FDIC's Office of Minority and Women Inclusion (OMWI) is requesting diversity self-assessments from FDIC-regulated financial institutions for 2019 in accordance with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
-
Federal Reserve Board announces technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses
March 23, 2020 / Source: FRB
The Federal Reserve Board on Monday announced a technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses.
-
Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19
March 23, 2020 / Source: OCC
The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications.
-
OCC Revises Short-Term Investment Fund Rule
March 23, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced an interim final rule to revise its short-term investment fund (STIF) rule for national banks acting in a fiduciary capacity.
-
Consumer Financial Protection Bureau Releases Report on 2019 Administration of the Fair Debt Collection Practices Act; Announces Extension of Comment Period MAR 20, 2020
March 20, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) released today the annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA).
-
Federal Reserve Board expands its program of support for flow of credit to the economy by taking steps to enhance liquidity and functioning of crucial state and municipal money markets
March 20, 2020 / Source: FRB
The Federal Reserve Board on Friday expanded its program of support for the flow of credit to the economy by taking steps to enhance the liquidity and functioning of crucial state and municipal money markets.
-
Coordinated central bank action to further enhance the provision of U.S. dollar liquidity
March 20, 2020 / Source: FRB
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to further enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.
-
Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility
March 19, 2020 / Source: OCC
To support the flow of credit to households and businesses, the federal bank regulatory agencies today announced an interim final rule to ensure that financial institutions will be able to effectively use a liquidity facility recently launched by the Federal Reserve Board.
-
FDIC Chairman Urges FASB to Delay Certain Accounting Rules Amid Pandemic
March 19, 2020 / Source: FDIC
Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams today sent a letter to the Financial Accounting Standards Board (FASB) urging a delay in transitions to and exclusions from certain accounting rules.
-
New C/A Tool: COVID-19 Sample Lobby Closing Notice
March 19, 2020
We developed this sample notice for our member banks to use in the event that they have to temporarily close their lobbies. Examples of alternative services are provided, but please tailor these to your bank's policies and practices during this time.
-
FDIC: Insured Bank Deposits are Safe; Beware of Potential Scams Using the Agency’s Name
March 18, 2020 / Source: FDIC
In light of recent developments related to the coronavirus, the Federal Deposit Insurance Corporation (FDIC) is reminding Americans that FDIC-insured banks remain the safest place to keep their money.
-
CFPB Director Kraninger Statement on Joint HUD-FHFA Announcement on Foreclosure and Eviction Moratorium
March 18, 2020 / Source: CFPB
Consumer Financial Protection Bureau Director Kathleen L. Kraninger made the following statement today after the U.S. Department of Housing and Urban Development and the Federal Housing Finance Agency announced a moratorium on foreclosures and evictions.