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FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2018
May 31, 2018 / Source: FDIC
Press Releases FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2018 FOR IMMEDIATE RELEASE May 31, 2018 Media contact: Greg Hernandez (202) 898-6984 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third and fourth quarters of 2018. CRA…
Proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule”
May 31, 2018 / Source: FRB
Press Release May 30, 2018 Federal Reserve Board asks for comment on proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule” For immediate release The Federal Reserve Board on Wednesday asked for comment on a proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule.” By statute, the…
FOMC announces tentative meeting schedule for 2019
May 30, 2018 / Source: FRB
Press Release May 25, 2018 FOMC announces tentative meeting schedule for 2019 For release at 12:00 p.m. EDT The Federal Open Market Committee on Friday announced its tentative meeting schedule for 2019: January 29-30 (Tuesday-Wednesday) March 19-20 (Tuesday-Wednesday) April 30-May 1 (Tuesday-Wednesday) June 18-19 (Tuesday-Wednesday) July 30-31 (Tuesday-Wednesday) September 17-18 (Tuesday-Wednesday) October 29-30 (Tuesday-Wednesday) December…
Northshore Contractor Charged with Conspiracy to Defraud First NBC Bank
May 30, 2018 / Source: FDICIG
PRESS RELEASE FOR IMMEDIATE RELEASE Northshore Contractor Charged with Conspiracy to Defraud First NBC Bank NEW ORLEANS – U.S. Attorney Duane A. Evans announced that JEFFREY DUNLAP, age 44, a resident of Slidell, Louisiana and owner of Phoenix Civil Contractors was charged yesterday with conspiracy to defraud First NBC Bank, the New Orleans-based bank that failed in April…
FinCEN Updates: FinCEN and BCFP Webinar for Financial Institutions and Law Enforcement
May 29, 2018 / Source: FinCEN
Webinar Invitation Bureau of Consumer Financial Protection and FinCEN to host Webinar on Joint Memorandum on Financial Institution and Law Enforcement Efforts to Combat Elder Financial Exploitation The Bureau of Consumer Financial Protection and the Financial Crimes Enforcement Network (FinCEN), U.S. Department of the Treasury, will host a webinar on the Joint Memorandum to encourage coordination…
FDIC Makes Public April Enforcement Actions
May 29, 2018 / Source: FDIC
Press Releases FDIC Makes Public April Enforcement Actions; No Administrative Hearings Scheduled for June 2018 FOR IMMEDIATE RELEASE May 25, 2018 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in April. There are no administrative…
President Donald J. Trump Signs S. 2155 into Law
May 25, 2018 / Source: WhiteHouse.gov
STATEMENTS & RELEASES President Donald J. Trump Signs S. 2155 into Law ECONOMY & JOBS Issued on: May 24, 2018 On Thursday, May 24, 2018, the President signed into law: 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” which provides, among other things: (1) exemptions to mortgage lending rules; (2) regulatory relief for community…
President Supports Regulatory Reforms For Community Banks, Credit Unions, and Consumers
May 25, 2018 / Source: WhiteHouse.gov
FACT SHEETS President Donald J. Trump Supports Regulatory Reforms For Community Banks, Credit Unions, and Consumers ECONOMY & JOBS Issued on: May 24, 2018 “Community banks are the backbone of small business in America. We are going to preserve our community banks.” President Donald J. Trump REDUCING UNNECESSARY REGULATORY BURDENS: President Donald J. Trump supports legislation…
OCC Report Highlights Key Risks for Federal Banking System
May 25, 2018 / Source: OCC
NR 2018-52 FOR IMMEDIATE RELEASE May 24, 2018 Contact: Bryan Hubbard (202) 649-6870 OCC Report Highlights Key Risks for Federal Banking System WASHINGTON — The Office of the Comptroller of the Currency (OCC) today reported credit, operational, compliance, and interest rate risks are key themes for the federal banking system in its Semiannual Risk Perspective for…
Minutes of the Federal Open Market Committee, May 1-2, 2018
May 24, 2018 / Source: FRB
Press Release May 23, 2018 Minutes of the Federal Open Market Committee, May 1-2, 2018 For release at 2:00 p.m. EDT The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on May 1-2, 2018. The minutes for each regularly scheduled meeting of the…
Bureau Acting Director Mulvaney Statement on the OCC Short-Term, Small-Dollar Lending Announcement
May 24, 2018 / Source: CFPB
Bureau Acting Director Mulvaney Statement on the OCC Short-Term, Small-Dollar Lending Announcement MAY 23, 2018 WASHINGTON, D.C. – Today, Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney issued the following statement in response to a bulletin from the Office of the Comptroller of the Currency (OCC) regarding short-term, small-dollar credit: “I applaud Comptroller Otting’s…
Comptroller Urges Banks to Meet Consumers’ Short-Term, Small-Dollar Credit Needs
May 24, 2018 / Source: OCC
NR 2018-51 FOR IMMEDIATE RELEASE May 23, 2018 Contact: Bryan Hubbard (202) 649-6870 Comptroller Urges Banks to Meet Consumers' Short-Term, Small-Dollar Credit Needs WASHINGTON — Comptroller of the Currency Joseph Otting today issued the following statement regarding the release of his agency’s bulletin encouraging national banks and federal savings associations to offer responsible short-term, small-dollar…
House Passes Most Significant Pro-Growth Financial Regulatory Reform in Generation
May 23, 2018 / Source: Financial Services Committee
Press Releases House Passes Most Significant Pro-Growth Financial Regulatory Reform in Generation Washington, May 22, 2018 – Today, the House of Representatives voted 258-159 to pass the “Economic Growth, Regulatory Relief and Consumer Protection Act,” which represents the most significant pro-growth financial regulatory reform package since the passage of Gramm-Leach-Bliley nearly a generation ago. “For far…
Comptroller of the Currency Congratulates House on Passage of Important Regulatory Reforms
May 23, 2018 / Source: OCC
NR 2018-50 FOR IMMEDIATE RELEASE May 22, 2018 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Congratulates House on Passage of Important Regulatory Reforms WASHINGTON—Comptroller of the Currency Joseph M. Otting issued the following statement upon passage by the U.S. House of Representatives of Senate Bill 2155, the “Economic Growth, Regulatory Relief and Consumer…
Correction to Administrative Ruling FIN-2018-R002
May 23, 2018 / Source: FinCEN
Correction to Administrative Ruling FIN-2018-R002: Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Automatic Rollovers or Renewals The Financial Crimes Enforcement Network (FinCEN) issued an administrative ruling on Wednesday, May 16, 2018 to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of the Beneficial…
Statement of the Bureau of Consumer Financial Protection on enactment of S.J. Res. 57
May 22, 2018 / Source: CFPB
Statement of the Bureau of Consumer Financial Protection on enactment of S.J. Res. 57 MAY 21, 2018 Today the President signed into law a bipartisan Congressional resolution disapproving a rule that was in the form of guidance issued by the Bureau of Consumer Financial Protection (Bureau) about indirect auto lender compliance with the Equal Credit…
President Donald J. Trump Signs S.J.Res. 57 into Law
May 22, 2018 / Source: White House
STATEMENTS & RELEASES President Donald J. Trump Signs S.J.Res. 57 into Law BUDGET & SPENDING Issued on: May 21, 2018 On Monday, May 21, 2018, the President signed into law: S.J.Res. 57, which nullifies the Bureau of Consumer Financial Protection bulletin regulating indirect auto lenders for compliance with the Equal Credit Opportunity Act.
GDPR: The Looming Impact on US Banks
May 21, 2018 / Source: Bankinfo Security
GDPR: The Looming Impact on US Banks Brett King, CEO of 'Neobank' Moven, Discusses Pitfalls for Financial Institutions The EU's General Data Protection Regulation, which will be enforced beginning May 25, has significant implications for how financial institutions worldwide handle customer data, says Brett King, CEO of Moven, an all-digital bank, or “neobank.” “Unstructured data collection…
Federal Reserve and OCC extend comment period for proposed rule tailoring leverage ratio requirement
May 21, 2018 / Source: FRB
May 18, 2018 Federal Reserve and Office of the Comptroller of the Currency extend comment period for proposed rule tailoring leverage ratio requirements Board of Governors of the Federal Reserve System Office of the Comptroller of the Currency For release at 2:00 p.m. EDT The Federal Reserve Board and the Office of the Comptroller of…
Hensarling: Committee Must Examine Allegations of Latest Fannie Mae Backdoor Schemes
May 21, 2018 / Source: Financial Services Committee
Press Releases Hensarling: Committee Must Examine Allegations of Latest Fannie Mae Backdoor Schemes Media Reports Raise Serious Questions About America’s Biggest Bailed Out Failed Company Washington, May 18, 2018 – House Financial Services Committee Chairman Jeb Hensarling released the following statement following media reports that high ranking Fannie Mae employees have been intentionally violating their government prohibition on…
Last Minute Implementation Concerns – Beneficial Ownership Webinar is Now Available!
May 18, 2018 / Source:
Last Minute Implementation Concerns – Beneficial Ownership Webinar is now available! Find it by going to —> News & Events —> Past Events —> Past Webinars View Webinar Here
OCC Enforcement Actions and Terminations for May 2018
May 18, 2018 / Source: OCC
NR 2018-47 FOR IMMEDIATE RELEASE May 17, 2018 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations for May 2018 WASHINGTON — 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….
Federal Reserve announces results of offering of seven-day term deposits on May 17
May 18, 2018 / Source: FRB
Press Release May 17, 2018 Federal Reserve announces results of offering of seven-day term deposits on May 17 For release at 3:30 p.m. EDT On May 17, 2018, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to…
Current Expected Credit Losses: Notice of Proposed Rulemaking
May 17, 2018 / Source: OCC
OCC BULLETIN 2018-13 Subject: Current Expected Credit Losses Date: May 16, 2018 To: Chief Executive Officers of All National Banks and Federal Savings Associations; Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Notice of Proposed Rulemaking Summary On May 14, 2018, the Office of the…
Beneficial Ownership Requirements for Products and Services with Automatic Rollover or Renewals
May 17, 2018 / Source: FinCEN
RULING FIN-2018-R002 Issued: May 16, 2018 Subject: Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Automatic Rollovers or Renewals The Financial Crimes Enforcement Network (FinCEN) is issuing this ruling to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of the Beneficial Ownership Requirements for…