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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New rule ensures mortgage servicers provide options to potentially vulnerable borrowers exiting forbearance
September 30, 2021 / Source: CFPB
As of September, approximately 1.6 million borrowers are exiting mortgage forbearance programs. As servicers expand their operations to match the surge of forbearance exits, servicers should remember that not all borrowers are similarly situated.
September 30, 2021 / Source: CFPB
Americans owe auto lenders well over a trillion dollars. Consumers with subprime credit scores ─ i.e. scores that are significantly lower than average ─ are especially likely to need loans to purchase vehicles.
September 30, 2021 / Source: Treasury
Treasury’s Federal Insurance Office Releases Annual Report on the Insurance Industry
September 29, 2021 / Source: Treasury
Today, the United States, through the Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Government of Qatar both designated in coordinated actions a major Hizballah financial network based in the Arabian Peninsula.
CFPB Report Finds Declines in Credit Card Debt, New Applications and Increases in Digital Engagement in 2020
September 29, 2021 / Source: CFPB
The Consumer Financial Protection Bureau released its fifth biennial report to Congress today on the consumer credit card market, finding that the market’s growth over the last few years reversed course in 2020.
September 28, 2021 / Source: FRB
Governor Michelle W. Bowman at the Community Banking in the 21st Century Research and Policy Conference, St. Louis, Missouri (virtual conference).
September 28, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the second quarter of 2021.
Maryland Man Facing Federal Indictment For Fraudulently Obtaining $3.5 Millions In COVID Relief Funds
September 27, 2021 / Source: FDIC OIG
Law Enforcement Seizes an Additional $1.5 Million in Alleged Fraudulent Funds.
Two Former Employees at New York Branch Of Major Bank And An Accountant Charged With Cares Act Loan Fraud
September 27, 2021 / Source: FDIC OIG
Defendants Conspired with Others to Defraud a Major Bank and the Small Business Administration Out of Millions of Dollars in Federal Loan Funds.
September 27, 2021 / Source: FRB
Governor Lael Brainard at "Shocks, Shifts, and the Emerging Economic Landscape" 2021 Annual Meeting of the National Association for Business Economics, Arlington, Virginia.
September 24, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August.
September 24, 2021 / Source: OCC
This bulletin provides an overview of the regulatory requirements and process that the Office of the Comptroller of the Currency (OCC) uses to review a voluntary liquidation of a mutual federal savings association (mutual FSA).
CFPB Report: Consumer Complaint Submission Patterns Vary by Demographic Characteristics of Census Tract
September 24, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today released its first in-depth report analyzing complaint submission patterns by U.S. Census tract.
September 23, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today announced its fall and winter schedule of free, virtual workshops for boards of directors of community national banks and federal savings associations.
Federal Reserve Board issues enforcement action with former employee of Simmons Bank and announces termination of enforcement action with The Bank & Trust
September 23, 2021 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement action.
September 23, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a range of questions related to the implementation of amendments to the Bank Secrecy Act (BSA) regarding the trade in antiquities.
September 22, 2021 / Source: CFPB
CFPB Acting Director Dave Uejio today announced the appointment of new members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).
September 22, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 21-22 FOMC meeting
September 22, 2021 / Source: FRB
The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the September 21-22 meeting.
September 21, 2021 / Source: Treasury
As part of the whole-of-government effort to counter ransomware, the U.S. Department of the Treasury today announced a set of actions focused on disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms, encouraging improved cyber security across the private sector, and increasing incident and ransomware payment reporting to U.S. government agencies, including both Treasury and law enforcement.
September 21, 2021 / Source: OCC
Acting Comptroller of the Currency Michael J. Hsu today discussed blockchain, cryptocurrencies, decentralized finance, and key lessons from the 2008 financial crisis that should guide the future of digital innovation during remarks before the Blockchain Association.
September 20, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses.
OCC Issues Cease and Desist Order Against MUFG Union Bank for Deficiencies Relating to Technology and Operational Risk Governance
September 20, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A.
September 17, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) is issuing this Notice to call attention to an increase in online child sexual exploitation (OCSE) crimes.
September 17, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today released a report warning that millions of renters and their families may suffer previously avoided economic harms of the COVID-19 pandemic as federal and state relief programs end.