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‚ÄĒposting relevant information to our News page. This is a valuable resource for Bank Managers and their employees.

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OCT 31, 2019: Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions

October 31, 2019 / Source: CFPB

Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions OCT 31, 2019   WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) and Federal Reserve Board today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer…

OCT 31, 2019: Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans

October 31, 2019 / Source: CFPB

Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans OCT 31, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will increase…

October 30, 2019: Federal Reserve issues FOMC statement

October 30, 2019 / Source: FRB

Press Release   PDF October 30, 2019 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Share Information received since the Federal Open Market Committee met in September 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,…

Consolidated Reports of Condition and Income: Request for Comment on Reporting Data on Loans to Small Businesses and Small Farms in the Call Report

October 30, 2019 / Source: OCC

OCC Bulletin 2019-51| October 29, 2019 Consolidated Reports of Condition and Income: Request for Comment on Reporting Data on Loans to Small Businesses and Small Farms in the Call Report SHARE THIS PAGE: ·           To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads;…

Federal Bank Regulatory Agencies Issue Final Rule to Simplify Capital Calculation for Community Banks

October 29, 2019 / Source: FDIC

Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 11:00 a.m. EDT October 29, 2019 Federal Bank Regulatory Agencies Issue Final Rule to Simplify Capital Calculation for Community Banks WASHINGTON— Federal bank regulatory agencies finalized a rule that…

Agencies Finalize Changes to Resolution Plan Requirements; Keeps Requirements for Largest Firms and Reduces Requirements for Smaller Firms

October 29, 2019 / Source: FDIC

Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 4:30 p.m. EDT October 28, 2019 Agencies Finalize Changes to Resolution Plan Requirements; Keeps Requirements for Largest Firms and Reduces Requirements for Smaller Firms The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday…

Agencies Propose Rule to Amend the Swap Margin Rule

October 29, 2019 / Source: FDIC

Press Releases Joint Release Board of Governors of the Federal Reserve System Farm Credit Administration Federal Deposit Insurance Corporation Federal Housing Finance Agency Office of the Comptroller of the Currency For release at 3:00 p.m. ET October 28, 2019 Agencies Propose Rule to Amend the Swap Margin Rule Five federal agencies today announced a proposal…

Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank

October 28, 2019 / Source: FDIC

Press Releases Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank FOR IMMEDIATE RELEASE October 25, 2019 FDIC Customer Service Call Center Toll Free – 1-877-755-6665 WASHINGTON – Louisa Community Bank in Louisa, Ky., was closed today by the Kentucky Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC)…

Buckeye State Bank Assumes All of the Deposits of Resolute Bank

October 28, 2019 / Source: FDIC

Press Releases Buckeye State Bank Assumes All of the Deposits of Resolute Bank FOR IMMEDIATE RELEASE October 25, 2019 FDIC Customer Service Call Center Toll Free – 1-866-806-6128 WASHINGTON — Resolute Bank in Maumee, Ohio, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as…

October 25, 2019: FDIC Makes Public September Enforcement Actions

October 25, 2019 / Source: FDIC

Press Releases FDIC Makes Public September Enforcement Actions; No Administrative Hearings Scheduled for November 2019 FOR IMMEDIATE RELEASE October 25, 2019 Media contact: LaJuan Williams-Young (202) 898-6876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September. There are no administrative…

Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss

October 25, 2019 / Source: FDICOIG

FOR IMMEDIATE RELEASE Tuesday, October 22, 2019 Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss SACRAMENTO, Calif. — Two defendants pleaded guilty today to their participation in a massive fraud scheme involving a solar energy company in Benicia, that defrauded investors of approximately $1 billion,…

U.S. Financial Regulatory Agencies Join the Global Financial Innovation Network

October 24, 2019 / Source: OCC

News Release 2019-122 | October 24, 2019 U.S. Financial Regulatory Agencies Join the Global Financial Innovation Network SHARE THIS PAGE: ·           Joint Release Commodity Futures Trading Commission Federal Deposit Insurance Corporation Office of Comptroller of the Currency Securities and Exchange Commission The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and…

CFPB to Host Symposium on November 6

October 24, 2019 / Source: CFPB

CFPB to Host Symposium on November 6 OCT 24, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) announced today that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019 at 9:30 a.m. The event will be webcast on the Bureau’s website.  Section 1071 amended the Equal Credit Opportunity…

Request for Information on the Use of the Uniform Financial Institutions Rating System

October 23, 2019 / Source: FDIC

Financial Institution Letters FIL-64-2019 October 23, 2019 Request for Information on the Use of the Uniform Financial Institutions Rating System Printable Format: FIL-64-2019 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation and the Federal Reserve Board are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under…

U.S. DEPARTMENT OF LABOR PROPOSES NEW ELECTRONIC DISCLOSURE RULE

October 23, 2019 / Source: DOL

News Release U.S. DEPARTMENT OF LABOR PROPOSES NEW ELECTRONIC DISCLOSURE RULE WASHINGTON, DC – Consistent with President Donald J. Trump’s Executive Order 13487, Strengthening Retirement Security in America, the U.S. Department of Labor today announced a proposed rule to allow online retirement plan disclosures to reduce printing and mail expenses for job creators and make disclosures…

Licensing:¬†Revised Comptroller’s Licensing Manual Booklets

October 22, 2019 / Source: OCC

OCC Bulletin 2019-50| October 22, 2019 Licensing: Revised Comptroller’s Licensing Manual Booklets SHARE THIS PAGE: ·           To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banking Organizations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC)…

FDIC Advisory Committee on Economic Inclusion to Meet Today

October 22, 2019 / Source: FDIC

Press Releases FDIC Advisory Committee on Economic Inclusion to Meet Today FOR IMMEDIATE RELEASE October 21, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, October 22, to discuss developments in credit scoring and underwriting, the status of the mortgage…

Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income (Call Report)

October 21, 2019 / Source: FDIC

Financial Institution Letters FIL-62-2019 October 21, 2019 Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income (Call Report) Printable Format: FIL-62-2019 – PDF (PDF Help) Summary: The federal banking agencies are requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and…

FDIC and Fed Request Information on the Use and Impact of CAMELS Ratings

October 21, 2019 / Source: FDIC

Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For Immediate Release October 18, 2019 FDIC and Fed Request Information on the Use and Impact of CAMELS Ratings In keeping with ongoing initiatives to increase transparency and improve efficiency, the Federal Deposit Insurance Corporation and Federal Reserve Board…

News Release 2019-121: OCC Enforcement Actions and Terminations

October 18, 2019 / Source: OCC

News Release 2019-121 | October 18, 2019 OCC Enforcement Actions and Terminations SHARE THIS PAGE: ·           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. All Cease and Desist Orders, Civil Money…

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

October 18, 2019 / Source: FRB

Press Release October 17, 2019 Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances For release at 4:00 p.m. EDT Share The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and…

Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank

October 17, 2019 / Source: FRB

Press Release October 17, 2019 Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank For release at 11:30 a.m. EDT Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent prohibition against Michael Joseph Erickson, former employee of Southern Bancorp Bank, Arkadelphia, Arkansas, for…

Federal Financial Regulatory Agencies Seek Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses and Proposed Interagency Guidance on Credit Risk Review Systems

October 17, 2019 / Source: OCC

News Release 2019-120 | October 17, 2019 Federal Financial Regulatory Agencies Seek Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses and Proposed Interagency Guidance on Credit Risk Review Systems SHARE THIS PAGE: ·           Joint Release Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the…

Adam West Reviews Compliance Alliance’s Popular Bank Compliance Solutions

October 16, 2019

Article   Find the whole article here BadCredit.org writer, Adam West gives a great overview of Compliance Alliance and then dives right into the details of how C/A got off the ground, and what keeps them at the forefront of consumer and federal bank compliance. Once he's covered the history, he then tackles the more granular…

Speech: Digital Currencies, Stablecoins, and the Evolving Payments Landscape

October 16, 2019 / Source: FRB

Speech   PDF October 16, 2019 Digital Currencies, Stablecoins, and the Evolving Payments Landscape Governor Lael Brainard At The Future of Money in the Digital Age, Sponsored by the Peterson Institute for International Economics and Princeton University’s Bendheim Center for Finance, Washington, D.C. Share Watch Live Technology is driving rapid change in the way we…