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Senate Agrees with House to Renew Flood Insurance Program for 4 Months
July 31, 2018 / Source: Insurance Journal
Senate Agrees with House to Renew Flood Insurance Program for 4 Months July 31, 2018 Congress avoided a lapse in the federal flood insurance program when the Senate today voted 86-12 to extend authorization for the program by four months to Nov. 30. The National Flood Insurance Program would have expired at the end of…
OCC Begins Accepting National Bank Charter Applications From Financial Technology Companies
July 31, 2018 / Source: OCC
NR 2018-74 FOR IMMEDIATE RELEASE July 31, 2018 Contact: Bryan Hubbard (202) 649-6870 OCC Begins Accepting National Bank Charter Applications From Financial Technology Companies WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will begin accepting applications for national bank charters from nondepository financial technology (fintech) companies engaged in the…
Business Combinations: Updated Comptroller’s Licensing Manual
July 31, 2018 / Source: OCC
OCC BULLETIN 2018-22 Subject: Business Combinations Date: July 31, 2018 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Updated Comptroller's Licensing Manual Summary On November 14, 2017, the Office of the Comptroller of the Currency (OCC)…
FDIC Makes Public June Enforcement Actions
July 30, 2018 / Source: FDIC
Press Releases FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2018 FOR IMMEDIATE RELEASE July 27, 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 June. There are no administrative…
ACH Network Payment Volume Increases More Than Six Percent in Second Quarter of 2018
July 30, 2018 / Source: NACHA
ACH Network Payment Volume Increases More Than Six Percent in Second Quarter of 2018 POSTED JULY, 25 2018 Same Day ACH Transactions Total Nearly 41 Million Herndon, Va., ACH debit and credit transactions totaled more than 5.7 billion in the second quarter of 2018, a 6.2 percent increase when compared to Q2 2017, according to…
Federal Reserve Board issues enforcement action
July 27, 2018 / Source: FRB
Press Release July 26, 2018 Federal Reserve Board issues enforcement action with Community Trust Bank, Inc. For release at 4:30 p.m. EDT The Federal Reserve Board on Thursday issued a consent order against Community Trust Bank, Inc. of Pikeville, Kentucky, for unfair and deceptive practices, requiring the bank to pay approximately $4.75 million in restitution…
Federal Reserve Board launches Consumer Compliance Supervision Bulletin
July 27, 2018 / Source: FRB
Press Release July 26, 2018 Federal Reserve Board launches Consumer Compliance Supervision Bulletin For release at 4:00 p.m. EDT The Federal Reserve Board on Thursday launched the Consumer Compliance Supervision Bulletin–a new publication that will provide bankers and others interested in consumer protection with high-level summaries of pertinent supervisory issues. The Bulletin complements other Federal Reserve…
House passes flood insurance extension with deadline fast approaching
July 26, 2018 / Source: National Mortgage News
House passes flood insurance extension with deadline fast approaching WASHINGTON —The House passed a four-month extension to the National Flood Insurance Program Tuesday, just one week before the program is set to expire. However, the Senate will need to pass the extension as well. In June, the Senate passed a farm bill that included a…
House Passes Two HSA Bills
July 26, 2018 / Source: NAPA
House Passes Two HSA Bills The U.S. House of Representatives has passed two bills that enhance – and seek to expand the use of health savings accounts. Perhaps more significantly, the bills – H.R. 6199 (115) and H.R. 6311 (115) – passed with some crossover support from Democrats. Restoring Access to Medication and Modernizing Health…
Capital and Dividends: Revised Comptroller’s Handbook Booklet and Rescissions
July 25, 2018 / Source: OCC
OCC BULLETIN 2018-20 Subject: Capital and Dividends Date: July 23, 2018 To: Chief Executive Officers of All National Banks, Federal Savings Association, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Revised Comptroller’s Handbook Booklet and Rescissions Summary The Office of the Comptroller of the…
Bureau of Consumer Financial Protection Settles With TCF National Bank
July 25, 2018 / Source: CFPB
Bureau of Consumer Financial Protection Settles With TCF National Bank JUL 20, 2018 WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services. TCF National Bank is headquartered in Wayzata, Minn., and operates approximately 318…
New TRID Revisions Line by Line Webinar is Now Available!
July 20, 2018 / Source:
New TRID Revisions Line by Line is now available! Find it by going to —> News & Events —> Past Events —> Past Webinars View Webinar Here
CDFI Fund Opens FY 2018 Funding Round of BEA Program
July 20, 2018 / Source: CDFI
CDFI Fund Opens FY 2018 Funding Round of BEA Program Thursday, July 19, 2018 The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2018 application round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of…
Bureau of Consumer Financial Protection Settles with Triton Management Group
July 20, 2018 / Source:
Bureau of Consumer Financial Protection Settles with Triton Management Group Triton Did Not Properly Disclose Terms and Conditions of Certain Loan Products, and Failed to Disclose Finance Charges in Advertisements JUL 19, 2018 WASHINGTON, D.C. — The Bureau of Consumer Financial Protection (Bureau) today announced a settlement with Triton Management Group, Inc., a small-dollar lender that…
July Compliance Huddle is Now Available!
July 19, 2018 / Source:
July Compliance Huddle is now available to view. A monthly, peer-to-peer forum that is driven by the topics and issues that attendees wish to talk about and explore. July Compliance Huddle is Now Available!
Federal Reserve Board issues termination of enforcement actions
July 19, 2018 / Source: FRB
Press Release July 19, 2018 Federal Reserve Board issues termination of enforcement actions with Community Banks of Georgia, Inc., and Grand Mountain Bancshares, Inc. For release at 11:00 a.m. EDT The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below: Community Banks of Georgia, Inc., Jasper, Georgia Written Agreement dated…
Bureau of Consumer Financial Protection Announces Director for the Office of Innovation
July 19, 2018 / Source: cfpb
Bureau of Consumer Financial Protection Announces Director for the Office of Innovation JUL 18, 2018 WASHINGTON, D.C. — Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney today announced he has selected Paul Watkins to lead the Bureau’s new Office of Innovation. “I am delighted that Paul Watkins is bringing his deep expertise, track record…
Speech by Vice Chairman Quarles on factors for tailoring supervision and regulation of large FIs
July 19, 2018 / Source: FRB
Speech PDF July 18, 2018 Getting It Right: Factors for Tailoring Supervision and Regulation of Large Financial Institutions Vice Chairman for Supervision Randal K. Quarles At American Bankers Association Summer Leadership Meeting, Salt Lake City, Utah I want to thank the American Bankers Association for inviting me to speak.1 This is an era of relatively rapid…
Testimony by Chairman Powell on the semiannual Monetary Policy Report to the Congress
July 18, 2018 / Source: FRB
Testimony PDF July 17, 2018 Semiannual Monetary Policy Report to the Congress Chairman Jerome H. Powell Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. Chairman Powell submitted identical remarks to the Committee on Financial Services, U.S. House of Representatives, on July 18, 2018. Good morning. Chairman Crapo, Ranking Member…
Consolidated Reports of Condition and Income
July 18, 2018 / Source: FDIC
Financial Institution Letters FIL-40-2018 July 17, 2018 Consolidated Reports of Condition and Income Printable Format: FIL-40-2018 – PDF (PDF Help) Summary: Burden-reducing revisions to all three versions of the Consolidated Reports of Condition and Income (Call Report) are taking effect as of the June 30, 2018, report date. These revisions result from efforts by the federal banking…
FILs Consolidated Reports of Condition and Income for Second Quarter 2018
July 17, 2018 / Source: FDIC
Financial Institution Letters Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Board of Governors of the Federal Reserve System FIL-39-2018 July 16, 2018 Printable Format: FIL-39-2018 – PDF (PDF Help) DEPOSITORY INSTITUTION REPORTS TO: CHIEF EXECUTIVE OFFICER SUBJECT: Consolidated Reports of Condition and Income for Second Quarter 2018 The attached materials pertain to the…
Mortgage Rates Edge Higher
July 17, 2018 / Source: Mortgage News Daily
BY: MATTHEW GRAHAM Mortgage Rates Edge Higher Jul 16 2018, 4:11PM Mortgage rates fell to their lowest levels since late May as of last Friday. Today, then, would be the 2nd best day since late May. Rates edged slightly higher to begin the new week as bond markets (which underlie rates) came under modest pressure for several relatively inconsequential reasons. The…
Fed Plays Down Trade Woes and Suggests Rosy Economic Outlook
July 16, 2018 / Source: The New York Times
Fed Plays Down Trade Woes and Suggests Rosy Economic Outlook By Jim Tankersley WASHINGTON — Federal Reserve officials presented a rosy economic report card to Congress on Friday, playing down risks to growth from trade tensions and declaring that the financial system is “substantially more resilient than during the decade before the financial crisis.” The Fed…
Federal Reserve Board issues enforcement actions and announces termination of enforcement action
July 16, 2018 / Source: FRB
Press Release July 12, 2018 Federal Reserve Board issues enforcement action with United Bank Limited and former employee of Hinsdale Bank & Trust and announces termination of enforcement action with United Bank Limited For release at 11:00 a.m. EDT The Federal Reserve Board on Thursday announced the execution of the enforcement actions listed below: United…
Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the OCC
July 13, 2018 / Source: OCC
Alert 2018-9 Subject: Fictitious Regulatory Agency Notification Date: July 12, 2018 Description: Fictitious Notification Attributed to Officials of the Office of the Comptroller of the Currency Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the Office of the Comptroller of the Currency To: Chief Executive Officers of All National Banks and Federal Savings…