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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November 27, 2019: Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services

November 27, 2019 / Source: FRB

Press Release November 27, 2019 Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services For release at 10:00 a.m. EST Share The Federal Reserve Board on Wednesday announced the approval of fee schedules, effective January 2, 2020, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve…

OCC Bulletin 2019-60: Other Real Estate Owned: Final Rule

November 27, 2019 / Source: OCC

OCC Bulletin 2019-60| November 26, 2019 Other Real Estate Owned: Final Rule SHARE THIS PAGE: ·           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 Summary On October 22, 2019, the Office of the Comptroller of the Currency (OCC)…

OCC Issues First and Second Quarter 2020 CRA Evaluation Schedule

November 26, 2019 / Source: OCC

News Release 2019-140 | November 26, 2019 OCC Issues First and Second Quarter 2020 CRA Evaluation Schedule SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first quarter and second quarter 2020. The OCC encourages public comment on…

FDIC-Insured Institutions Reported Net Income of $57.4 Billion in Third Quarter 2019

November 26, 2019 / Source: FDIC

Press Releases FOR IMMEDIATE RELEASE November 26, 2019 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] FDIC-Insured Institutions Reported Net Income of $57.4 Billion in Third Quarter 2019 Net Income Declined 7.3 Percent from Third Quarter 2018 Due to Nonrecurring Events at Three Large Institutions Net Interest Margin Declined from a Year Ago to 3.35…

Consumer Financial Protection Bureau Settles with Military Travel Lender and Servicer

November 26, 2019 / Source: CFPB

Consumer Financial Protection Bureau Settles with Military Travel Lender and Servicer Edmiston Marketing, LLC Hid Credit Costs and USA Service Finance, LLC Overcharged Servicemembers for Add-on Product NOV 25, 2019 Washington, D.C. — Today the Consumer Financial Protection Bureau (Bureau) announced settlements with Edmiston Marketing, LLC, also called Easy Military Travel, its principal, Brandon Edmiston, and USA…

OCC Reduces 2020 Assessments on National Banks and Federal Savings Associations

November 25, 2019 / Source: OCC

News Release 2019-139 | November 25, 2019 OCC Reduces 2020 Assessments on National Banks and Federal Savings Associations SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) is reducing the rates in all fee schedules by 10 percent for the 2020 calendar year. The 2020 reduction is in addition to the 10-percent reduction…

FinCEN Realigns Division to Increase Strategic Capabilities

November 25, 2019 / Source: FinCEN

FinCEN Realigns Division to Increase Strategic Capabilities   Contact Steve Hudak, 703-905-3770 Immediate Release November 25, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has announced the realignment of its Liaison Division as the Strategic Operations Division (Strategic Ops), effective November 24, 2019.  Strategic Ops will be responsible for designing and implementing FinCEN’s strategic partnerships across…

Banker Teleconference Series: Understanding the Requirements of the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule (TRID Rule)

November 22, 2019 / Source: FDIC

Financial Institution Letters FIL-73-2019 November 22, 2019 Banker Teleconference Series: Understanding the Requirements of the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule (TRID Rule) Printable Format: FIL-73-2019 – PDF (PDF Help) Summary: The FDIC offers a series of events for bankers, including teleconferences and webinars, to maintain open lines of…

CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers

November 22, 2019 / Source: CFPB

CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers NOV 21, 2019 Washington, D.C. –The Consumer Financial Protection Bureau (Bureau) released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined by the…

Permissible Interest on Loans That Are Transferred: Notice of Proposed Rulemaking

November 22, 2019 / Source: OCC

OCC Bulletin 2019-58| November 21, 2019 Permissible Interest on Loans That Are Transferred: Notice of Proposed Rulemaking SHARE THIS PAGE: ·           To Chief Executive Officers of All National Banks and Savings Associations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) is issuing a notice…

News Release 2019-138: OCC Enforcement Actions and Terminations

November 21, 2019 / Source: OCC

News Release 2019-138 | November 21, 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 announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2020

November 21, 2019 / Source: FRB

Press Release November 20, 2019 Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2020 For release at 10:00 a.m. EST Share The Federal Reserve Board on Wednesday announced the annual indexing of the reserve requirement exemption amount and the low reserve tranche. These amounts are used…

Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule

November 20, 2019 / Source: CFPB

Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule NOV 20, 2019 Washington, D.C. – The Consumer Financial Protection Bureau (Bureau) is requesting public comment on an assessment it will conduct on the TRID Integrated Disclosure Rule (the Truth in Lending Act and Real Estate Settlement Procedures Act).  As part of its assessment, the Bureau…

Federal bank regulatory agencies issue final rule on treatment of high volatility commercial real estate

November 20, 2019 / Source: FRB

Joint Press Release November 19, 2019 Federal bank regulatory agencies issue final rule on treatment of high volatility commercial real estate Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 2:30 p.m. EST Share Three federal bank regulatory agencies finalized a rule…

Agencies finalize changes to supplementary leverage ratio as required by Economic Growth, Regulatory Relief, and Consumer Protection Act

November 20, 2019 / Source: FRB

Joint Press Release November 19, 2019 Agencies finalize changes to supplementary leverage ratio as required by Economic Growth, Regulatory Relief, and Consumer Protection Act Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 2:30 p.m. EST Share The federal bank regulatory agencies…

Federal bank regulatory agencies finalize rule to update calculation of counterparty credit risk for derivative contracts

November 20, 2019 / Source: FRB

Joint Press Release November 19, 2019 Federal bank regulatory agencies finalize rule to update calculation of counterparty credit risk for derivative contracts Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 2:30 p.m. EST Share Three federal bank regulatory agencies on Tuesday…

Federal Reserve Board issues enforcement action with former employee of East West Bank and announces termination of enforcement actions with Markesan State Bank, Banco Espírito Santo, and Espírito S

November 19, 2019 / Source: FRB

Press Release November 19, 2019 Federal Reserve Board issues enforcement action with former employee of East West Bank and announces termination of enforcement actions with Markesan State Bank, Banco Espírito Santo, and Espírito Santo e Comercial de Lisboa, Inc. For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the execution…

Comptroller Acts to Promote the Safe, Sound, and Fair Operation of the Federal Banking System

November 19, 2019 / Source: OCC

News Release 2019-133 | November 19, 2019 Comptroller Acts to Promote the Safe, Sound, and Fair Operation of the Federal Banking System SHARE THIS PAGE: ·           WASHINGTON—The Comptroller of the Currency today approved the following interagency final rules to promote the safe, sound, and fair operation of the federal banking system. The final rules will be published…

OCC Proposes Rule to Clarify “Valid When Made” Doctrine

November 18, 2019 / Source: OCC

News Release 2019-132 | November 18, 2019 OCC Proposes Rule to Clarify “Valid When Made” Doctrine SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) is soliciting comments on a proposed rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible prior to…

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators

November 18, 2019 / Source: CFPB

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators NOV 15, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019. The Secure…

Financial Regulators Revise Business Continuity Management Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations.

November 15, 2019 / Source: FFIEC

Press Release For Immediate Release November 14, 2019   Financial Regulators Revise Business Continuity Management Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations.   The members of the Federal Financial Institutions Examination Council (FFIEC) today emphasized that examiners understand how management of banks and other regulated entities, including depository…

FDIC Releases Three Reports Analyzing Growth of Nonbank Lending

November 15, 2019 / Source: FDIC

Press Releases FDIC Releases Three Reports Analyzing Growth of Nonbank Lending Decades-long shifts reported in corporate and mortgage loans between banks and nonbanks FOR IMMEDIATE RELEASE November 14, 2019 Media contact: Brian Sullivan (202) 898-6534 [email protected] WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a multi-part analysis of changes in the U.S. banking…

FHA RELEASES 2019 ANNUAL REPORT TO CONGRESS

November 14, 2019 / Source: HUD

HUD No. 19-164 HUD Public Affairs (202) 708-0685 FOR RELEASE Thursday November 14, 2019 FHA RELEASES 2019 ANNUAL REPORT TO CONGRESS MMI Fund Capital Ratio continues to exceed the statutory minimum – strongest since 2007   WASHINGTON – The Federal Housing Administration (FHA) today released its 2019 Annual Report to Congress on the economic condition of the…

CFPB Releases Financial Well-Being Report with State-by-State Comparisons

November 14, 2019 / Source: CFPB

CFPB Releases Financial Well-Being Report with State-by-State Comparisons NOV 13, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued a report today with state-by-state comparisons of financial well-being scores. The scores are based on Bureau analysis of the Financial Industry Regulatory Authority Foundation’s 2018 National Financial Capability Study. The report shows that the average…

Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations

November 13, 2019 / Source: OCC

OCC Bulletin 2019-55| November 13, 2019 Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations SHARE THIS PAGE: ·           To Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC), the Board of…