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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Rescission of FDIC Statements of Policy

December 31, 2019 / Source: FDIC

Financial Institution Letters FIL-86-2019 December 31, 2019 Rescission of FDIC Statements of Policy Printable Format: FIL-86-2019 – PDF (PDF Help) Summary: As part of a continuing effort to reduce regulatory burden, the FDIC is rescinding four FDIC Statements of Policy that are outdated. Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution…

2019 College credit card agreements

December 31, 2019 / Source: CFPB

2019 College credit card agreements DEC 30, 2019 The Credit Card Accountability, Responsibility, and Disclosure Act (“CARD Act” or “Act”) requires the Bureau of Consumer Financial Protection (the “Bureau”) to submit to Congress, and to make available to the public, an annual report that lists information submitted to the Bureau concerning agreements between credit card…

Treatment of Extensions of Credit to Certain Investment Funds and Their Portfolio Investments Under 12 CFR 215 and 12 CFR 363: Interagency Statement

December 30, 2019 / Source: OCC

OCC Bulletin 2019-65| December 27, 2019 Treatment of Extensions of Credit to Certain Investment Funds and Their Portfolio Investments Under 12 CFR 215 and 12 CFR 363: Interagency Statement 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…

CFPB Issues Financial Literacy Annual Report

December 27, 2019 / Source: CFPB

CFPB Issues Financial Literacy Annual Report DEC 23, 2019   WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued its Financial Literacy Annual Report for fiscal year 2019. The Bureau delivered its digital and print resources to more than 12 million consumers in fiscal year 2019.  Promoting savings has also been a key part of…

FDIC Makes Public November 2019 Enforcement Actions

December 27, 2019 / Source: FDIC

Press Releases FDIC Makes Public November Enforcement Actions; No Administrative Hearings Scheduled for January 2020 FOR IMMEDIATE RELEASE December 27, 2019 Media Contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in November. There are no administrative…

Federal Reserve approves modifications to National Settlement Service and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse service

December 23, 2019 / Source: FRB

Press Release December 23, 2019 Federal Reserve approves modifications to National Settlement Service and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse service For release at 2:00 p.m. EST Share The Federal Reserve Board on Monday approved modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire® Funds Service to support…

FDIC’s Supervisory Insights¬†Fall 2019¬†Edition Focuses on Commercial Real Estate Lending and the Leveraged Lending Market

December 23, 2019 / Source: FDIC

Press Releases FDIC's Supervisory Insights Fall 2019 Edition Focuses on Commercial Real Estate Lending and the Leveraged Lending Market FOR IMMEDIATE RELEASE December 23, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the Fall 2019 issue of Supervisory Insights, which contains two articles of interest to bank management. The first…

Agencies Extend Comment Period for Proposed Rule to Amend Swap Margin Rules

December 23, 2019 / Source: OCC

News Release 2019-152 | December 20, 2019 Agencies Extend Comment Period for Proposed Rule to Amend Swap Margin Rules SHARE THIS PAGE: 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 Five federal agencies today announced they will reopen…

Agencies extend deadline on request for information on CAMELS rating system

December 20, 2019 / Source: FRB

Joint Press Release December 20, 2019 Agencies extend deadline on request for information on CAMELS rating system Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 12:00 p.m. EST Share The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday announced that they will extend until February…

Federal Reserve report assesses information presented to prospective borrowers on small business online lender websites

December 20, 2019 / Source: FRB

Press Release December 19, 2019 Federal Reserve report assesses information presented to prospective borrowers on small business online lender websites For release at 4:00 p.m. EST Share The Federal Reserve Board on Thursday released Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites, a report that examines the information that prospective small business…

Federal Reserve payments study finds growth in card and automated clearinghouse payments

December 19, 2019 / Source: FRB

Press Release December 19, 2019 Federal Reserve payments study finds growth in card and automated clearinghouse payments For release at 12:00 p.m. EST Share The growth of payments using debit and credit cards and the automated clearinghouse (ACH) system continued to accelerate from 2015 to 2018, while check payments continued their long-run decline, according to…

News Release 2019-151: OCC Enforcement Actions and Terminations

December 19, 2019 / Source: OCC

News Release 2019-151 | December 19, 2019 OCC Enforcement Actions and Terminations   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 Penalty Orders, and Removal/Prohibition…

OCC Reports Mortgage Performance Improves Slightly

December 19, 2019 / Source: OCC

News Release 2019-150 | December 19, 2019 OCC Reports Mortgage Performance Improves Slightly WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2019. The OCC Mortgage Metrics Report, Third Quarter 2019 showed 96.4 percent of mortgages included in the report…

Agencies Find No Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms

December 18, 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. EST December 17, 2019 Agencies Find No Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms The Federal Reserve Board and Federal Deposit Insurance Corporation announced Tuesday that they did…

Federal Reserve Board announces series of “fintech innovation office hours” across the country to meet with banks and companies engaged in emerging financial technologies

December 18, 2019 / Source: FRB

Press Release December 17, 2019 Federal Reserve Board announces series of “fintech innovation office hours” across the country to meet with banks and companies engaged in emerging financial technologies For release at 3:30 p.m. EST Share The Federal Reserve Board on Tuesday announced that it will hold a series of “fintech innovation office hours” across…

FDIC Announces Departure of Chief Information Officer Howard Whyte

December 17, 2019 / Source: FDIC

Press Releases FDIC Announces Departure of Chief Information Officer Howard Whyte FOR IMMEDIATE RELEASE December 17, 2019 Media Contact: Amy C. Thompson 202-898-7124 [email protected] WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today announced that Howard Whyte, Chief Information Officer (CIO) and Chief Privacy Officer, has resigned his position to pursue an opportunity in the private sector….

Federal Reserve Board announces approval of application by First Citizens BancShares, Inc.

December 17, 2019 / Source: FRB

Press Release December 16, 2019 Federal Reserve Board announces approval of application by First Citizens BancShares, Inc. For release at 1:00 p.m. EST Share The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by First Citizens BancShares, Inc., Raleigh, North Carolina,…

Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data

December 16, 2019 / Source: OCC

News Release 2019-148 | December 16, 2019 Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data SHARE THIS PAGE: oint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency The three federal banking agency members of the Federal Financial Institutions…

Federal Reserve Board announces it will extend until January 22, 2020, comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Bo

December 16, 2019 / Source: FRB

Press Release December 13, 2019 Federal Reserve Board announces it will extend until January 22, 2020, comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Board For release at 2:00 p.m. EST Share The Federal Reserve Board announced on Friday that it will extend until January 22,…

FDIC and OCC Propose to Modernize Community Reinvestment Act Regulations

December 13, 2019 / Source: OCC

News Release 2019-147 | December 12, 2019 FDIC and OCC Propose to Modernize Community Reinvestment Act Regulations SHARE THIS PAGE: Joint Release Federal Deposit Insurance Corporation Office of Comptroller of the Currency WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under…

Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I

December 13, 2019 / Source: FRB

Press Release December 12, 2019 Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I For release at 2:00 p.m. EST Share The Federal Reserve Board on Thursday announced the annual adjustment to the asset-size threshold in Regulation I that determines the dividend rate paid to banks that are members of the…

Federal Reserve Board announces termination of enforcement actions with JPMorgan Chase & Co., Spirit BankCorp, Inc., U.S. Bancorp, and USB Americas Holdings Company

December 12, 2019 / Source: FRB

Press Release December 12, 2019 Federal Reserve Board announces termination of enforcement actions with JPMorgan Chase & Co., Spirit BankCorp, Inc., U.S. Bancorp, and USB Americas Holdings Company For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below: JPMorgan Chase & Co., New…

Listening Session on Supervisory Appeals and Dispute Resolution Processes: Webinar for Bank Officers and Other Interested Parties

December 12, 2019 / Source: FDIC

Financial Institution Letters FIL-80-2019 December 11, 2019 Listening Session on Supervisory Appeals and Dispute Resolution Processes: Webinar for Bank Officers and Other Interested Parties Printable Format: FIL-80-2019 – PDF (PDF Help) Summary: As part of the FDIC's “Trust Through Transparency” initiative, the agency will host a webinar to solicit feedback regarding its supervisory appeals and dispute…

December 11, 2019: Federal Reserve issues FOMC statement

December 12, 2019 / Source: FRB

Press Release   PDF December 11, 2019 Federal Reserve issues FOMC statement For release at 2:00 p.m. EST Share Information received since the Federal Open Market Committee met in October 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,…

Significant FCC Ruling Distinguishes Online Fax Services Not in Violation of TCPA

December 11, 2019 / Source: JD Supra

Significant FCC Ruling Distinguishes Online Fax Services Not in Violation of TCPA In a welcome win to defendants fighting TCPA fax class actions, the Consumer and Governmental Affairs Bureau of the Federal Communications Commission (the Bureau) issued a declaratory ruling finding that a facsimile sent to an online fax service (as opposed to a traditional…