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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FDIC Makes Public February 2019 Enforcement Actions

March 29, 2019 / Source: FDIC

Press Releases FDIC Makes Public February Enforcement Actions; No Administrative Hearings Scheduled for April 2019 FOR IMMEDIATE RELEASE March 29, 2019 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 February. There are no administrative…

Federal Reserve Board releases document providing additional information on its stress testing program

March 29, 2019 / Source: FRB

Press Release March 28, 2019 Federal Reserve Board releases document providing additional information on its stress testing program For release at 4:30 p.m. EDT Share The Federal Reserve Board on Thursday released a document providing additional information on its stress testing program. The release of the document follows an announcement in February that the Board…

NACHA Releases Top 50 Rankings of ACH Originating and Receiving Financial Institutions; Updated Figures Show 2018 Total Volume of 27 Billion ACH Payments

March 28, 2019 / Source: NACHA

NACHA Releases Top 50 Rankings of ACH Originating and Receiving Financial Institutions; Updated Figures Show 2018 Total Volume of 27 Billion ACH Payments POSTED MARCH 28, 2019 HERNDON, Va., March 28, 2019 – NACHA today released its Top 50 rankings of originators and receivers of ACH payments for 2018.  The Top 50 originating financial institutions accounted for…

Press Release: FDIC Announces New Members for the Advisory Committee on Community Banking

March 28, 2019 / Source: FDIC

Press Releases FDIC Announces New Members for the Advisory Committee on Community Banking FOR IMMEDIATE RELEASE March 28, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) has announced the selection of six new members to its Advisory Committee on Community Banking, which has been providing advice and recommendations to…

Bank General Counsel Charged With Conspiracy to Defraud First NBC Bank

March 27, 2019 / Source: FDICOIG

Bank General Counsel Charged With Conspiracy to Defraud First NBC Bank NEW ORLEANS – The United States Attorney’s Office announced that GREGORY ST. ANGELO (“ST ANGELO”), age 54, a resident of St. Tammany Parish, was charged today with conspiracy to defraud First NBC Bank, the New Orleans-based bank that failed in April 2017. According to the Bill of…

NACHA’s Payments Innovation Alliance Releases Faster Payments Primer for Financial Institutions

March 27, 2019 / Source: NACHA

NACHA’s Payments Innovation Alliance Releases Faster Payments Primer for Financial Institutions   POSTED MARCH 20, 2019 The Faster Payments 101 tool is designed to help small- to mid-sized financial institutions understand the faster payments options in the marketplace HERNDON, Va., March 20, 2019 – Today, NACHA and its Payments Innovation Alliance released Faster Payments 101, an…

Revised Interagency Examination Procedures

March 26, 2019 / Source: OCC

OCC BULLETIN 2019-16 Subject: Consumer Compliance Date: March 26, 2019 To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Revised Interagency Examination Procedures Summary The Task Force on Consumer Compliance of the Federal Financial Institutions…

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Nebraska Affected by Severe Winter Storms, Straight-line Winds, and Flooding

March 26, 2019 / Source: FDIC

Financial Institution Letters FIL-15-2019 March 26, 2019 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Nebraska Affected by Severe Winter Storms, Straight-line Winds, and Flooding Printable Format: FIL-15-2019 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate…

Bank Admin Email for 2nd Quarter Sent to C/A Members

March 26, 2019

The Bank Admin email was sent Monday, March 25, 2019, to all C/A member banks' Bank Admins. Full of best practices, helpful hints, and downloadable guides, the quarterly email highlights security certificate issues and upcoming chat feature upgrades. With a direct link to the most current HELPsheet crafted by our Marketing Team, this email should…

Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Flooding in the Midwest

March 25, 2019 / Source: OCC

Joint Release Board of Governors of the Federal Reserve System Conference of State Bank Supervisors Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency NR 2019-31 FOR IMMEDIATE RELEASE March 25, 2019 Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by…

FFIEC HMDA Alerts

March 25, 2019 / Source: FFIEC

FFIEC HMDA Alerts The 2019 edition of the “Guide to HMDA Reporting:  Getting It Right!” is now available at https://www.ffiec.gov/hmda/. The 2019 version, developed by member agencies of the Federal Financial Institutions Examination Council, reflects amendments made to HMDA by the Economic Growth, Regulatory Relief, and Consumer Protection Act and the 2018 HMDA interpretive and procedural rule…

Helpful Resources for Members Directly Affected by the Flooding

March 22, 2019

We are saddened to hear of the devastation caused by recent flooding in Iowa, Missouri, Nebraska, and throughout the Midwest. We are keeping a close eye on any announcement from the federal regulatory agencies regarding branch closures or relief—while the agencies do not yet appear to have issued anything official, we will be sure to…

OCC Reports Mortgage Performance Improves in Fourth Quarter of 2018

March 22, 2019 / Source: OCC

NR 2019-30 FOR IMMEDIATE RELEASE March 22, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Reports Mortgage Performance Improves in Fourth Quarter of 2018 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 fourth quarter of 2018. The OCC Mortgage…

OCC Reports Fourth Quarter 2018 Bank Trading Revenue

March 22, 2019 / Source: OCC

NR 2019-29 FOR IMMEDIATE RELEASE March 22, 2019 Contact: Paul Ross (202) 649-6870 OCC Reports Fourth Quarter 2018 Bank Trading Revenue WASHINGTON — The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $4.2 billion in the fourth quarter 2018, which was $2.9 billion,…

Press Release: Federal Reserve System publishes annual financial statements

March 22, 2019 / Source: FRB

Press Release March 22, 2019 Federal Reserve System publishes annual financial statements For release at 12:00 p.m. EDT Share The Federal Reserve System on Friday released the 2018 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. An…

Federal Reserve Board announces termination of enforcement action with Commercial State Bank

March 21, 2019 / Source: FRB

Press Release March 21, 2019 Federal Reserve Board announces termination of enforcement action with Commercial State Bank For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Commercial State Bank, Andrews, Texas Cease and Desist Order, dated December 26, 2018 Terminated March 18,…

Federal Reserve Board publishes report containing summary information on debit card transactions in 2017

March 21, 2019 / Source: FRB

Press Release March 21, 2019 Federal Reserve Board publishes report containing summary information on debit card transactions in 2017 For release at 12:00 p.m. EDT Share The Federal Reserve Board on Thursday published a report on debit card transactions in 2017, including information on volume and value, interchange fee revenue, certain issuer costs, and fraud…

Consumer Financial Protection Bureau Releases Report on 2018 Administration of the Fair Debt Collection Practices Act

March 21, 2019 / Source: CFPB

Consumer Financial Protection Bureau Releases Report on 2018 Administration of the Fair Debt Collection Practices Act MAR 20, 2019 Washington, D.C. — The Consumer Financial Protection Bureau (Bureau) released the annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights the continued efforts by the Bureau and the…

FDIC’s¬†Supervisory Insights¬†Winter Edition Focuses on LIBOR

March 20, 2019 / Source: FDIC

Press Releases FDIC's Supervisory Insights Winter Edition Focuses on LIBOR FOR IMMEDIATE RELEASE March 20, 2019 Media contact: Greg Hernandez (202) 898-6984 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the Winter 2018 issue of Supervisory Insights, which includes an article examining the future of, and alternatives to, the London Inter-bank Offered Rate (LIBOR). LIBOR is a…

Federal Reserve issues FOMC statement March 20, 2019

March 20, 2019 / Source: FRB

Press Release    PDF March 20, 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 January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter. Payroll employment…

Office of the Comptroller of the Currency Fines Citibank, N.A. $25 Million for Violating the Fair Housing Act

March 19, 2019 / Source: OCC

NR 2019-27 FOR IMMEDIATE RELEASE March 19, 2019 Contact: Bryan Hubbard (202) 649-6870 Office of the Comptroller of the Currency Fines Citibank, N.A. $25 Million for Violating the Fair Housing Act WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $25 million civil money penalty against Citibank, N.A., for violations of the…

Margin and Capital Requirements for Covered Swap Entities: Interim Final Rule

March 19, 2019 / Source: OCC

OCC BULLETIN 2019-14 Subject: Margin and Capital Requirements for Covered Swap Entities Date: March 19, 2019 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 Description: Interim Final Rule Summary The Office of the…

Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the Office of the Comptroller of the Currency

March 18, 2019 / Source: OCC

Alert 2019-3 Subject: Fictitious Regulatory Agency Notification  Date: March 15, 2019 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…

FDIC Settles with PricewaterhouseCoopers LLP on Audits of a Failed Bank

March 18, 2019 / Source: FDIC

Press Releases FDIC Settles with PricewaterhouseCoopers LLP on Audits of a Failed Bank FOR IMMEDIATE RELEASE March 15, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation as Receiver for Colonial Bank (FDIC) has announced a $335 million settlement with PricewaterhouseCoopers LLP (PwC) related to professional negligence claims brought by the…

Agencies Adopt Interim Final Rule to Facilitate Transfers of Legacy Swaps

March 15, 2019 / Source: OCC

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 NR 2019-26 FOR IMMEDIATE RELEASE March 15, 2019 Agencies Adopt Interim Final Rule to Facilitate Transfers of Legacy Swaps Five federal agencies today acted to ensure that…