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OCC Solicits Public Comment on Proposed Innovation Pilot Program
April 30, 2019 / Source: OCC
NR 2019-42 FOR IMMEDIATE RELEASE April 30, 2019 Contact: Paul Ross (202) 649-6870 OCC Solicits Public Comment on Proposed Innovation Pilot Program WASHINGTON — The Office of the Comptroller of the Currency (OCC) today opened a 45-day public comment period on a proposed Innovation Pilot Program (the program). The program would be voluntary and designed…
New Jersey Man Pleads Guilty to Federal Charges for $3.5 Million Bank Fraud Scheme
April 30, 2019 / Source: FDICIG
FOR IMMEDIATE RELEASE Thursday, April 25, 2019 New Jersey Man Pleads Guilty to Federal Charges for $3.5 Million Bank Fraud Scheme Baltimore, Maryland – Mehul Khatiwala, age 37, of Voorhees, New Jersey, pleaded guilty today to conspiracy to commit bank fraud and to three counts of bank fraud, in connection with a scheme to fraudulently obtain…
Fiduciary Regulations; Non-Fiduciary Custody Activities: Advance Notice of Proposed Rulemaking
April 29, 2019 / Source: OCC
OCC BULLETIN 2019-21 Subject: Fiduciary Regulations; Non-Fiduciary Custody Activities Date: April 29, 2019 To: Chief Executive Officers of National Banks and Savings Associations, All Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Advance Notice of Proposed Rulemaking Summary On April 29, 2019, the Office of the Comptroller of the Currency (OCC) published…
Bureau offers a lifeline (of sorts) to prepaid issuers in submitting agreements through Collect
April 29, 2019 / Source: Regulatory Report
Bureau offers a lifeline (of sorts) to prepaid issuers in submitting agreements through Collect April 26, 2019 Prepaid account issuers get some help in using Collect, the federal consumer financial protection agency’s online channel for submitting account agreements by Wednesday, May 1, the deadline for making first submissions under new rules, according to an announcement by the…
FDIC Makes Public March 2019 Enforcement Actions
April 26, 2019 / Source: FDIC
Press Releases FDIC Makes Public March Enforcement Actions; One Administrative Hearing Scheduled for May 2019 FOR IMMEDIATE RELEASE April 26, 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 March. There is one administrative…
Other Real Estate Owned: Notice of Proposed Rulemaking
April 26, 2019 / Source: OCC
OCC BULLETIN 2019-20 Subject: Other Real Estate Owned Date: April 26, 2019 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Notice of Proposed Rulemaking Summary On April 24, 2019, the Office of the…
CFPB Issues Request for Information on Remittance Rule
April 25, 2019 / Source: CFPB
CFPB Issues Request for Information on Remittance Rule APR 25, 2019 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) issued a Request for Information (RFI) on its Remittance Rule. The RFI includes a consideration of issues discussed in the Bureau’s assessment of the Rule, which examined if the Rule had been effective in…
Federal Reserve Board issues enforcement action with Sumitomo Mitsui Banking Corporation
April 25, 2019 / Source: FRB
Press Release April 25, 2019 Federal Reserve Board issues enforcement action with Sumitomo Mitsui Banking Corporation For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Sumitomo Mitsui Banking Corporation, Tokyo, Japan Written agreement regarding anti-money laundering compliance dated April 23, 2019 Enforcement…
Federal Reserve Board invites public comment on proposal to simplify and increase the transparency of rules for determining control of a banking organization
April 24, 2019 / Source: FRB
Press Release April 23, 2019 Federal Reserve Board invites public comment on proposal to simplify and increase the transparency of rules for determining control of a banking organization For immediate release Share The Federal Reserve Board on Tuesday invited public comment on a proposal that would simplify and increase the transparency of the Board's rules…
OCC proposes update of ‘other real estate owned’ rules for national banks, savings associations
April 24, 2019 / Source: Regulatory Report
OCC proposes update of ‘other real estate owned’ rules for national banks, savings associations April 23, 2019 OCC 0 A proposal to clarify and streamline the regulation of banks’ other real estate owned (OREO) activities and update the OREO regulatory framework for federal savings associations (FSA) is being issued by the Office of the Comptroller of the…
CFPB Announces Policy Change Regarding Bureau Civil Investigative Demands
April 23, 2019 / Source: CFPB
CFPB Announces Policy Change Regarding Bureau Civil Investigative Demands APR 23, 2019 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) announced changes to policies regarding Civil Investigative Demands (CIDs) to ensure they provide more information about the potentially wrongful conduct under investigation. Consistent with the updated policy, CIDs will provide more information about the potentially…
Deposit Insurance Coverage Seminars: Free Nationwide Seminars for Bank Officers and Employees
April 23, 2019 / Source: FDIC
Financial Institution Letters FIL-23-2019 April 23, 2019 Deposit Insurance Coverage Seminars Free Nationwide Seminars for Bank Officers and Employees Printable Format: FIL-23-2019 – PDF (PDF Help) Summary: The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between May 15, 2019, and December 9, 2019. In addition…
FIL: Consolidated Reports of Condition and Income
April 22, 2019 / Source: FDIC
Financial Institution Letters FIL-22-2019 April 19, 2019 Consolidated Reports of Condition and Income Printable Format: FIL-22-2019 – PDF (PDF Help) Summary: The Consolidated Reports of Condition and Income (Call Report) for the March 31, 2019, report date must be submitted to the agencies' Central Data Repository (CDR) by Tuesday, April 30, 2019. Certain institutions with foreign…
Mortgage Rates Continue to Rise
April 22, 2019 / Source: Freddie Mac
Mortgage Rates Continue to Rise Supporting Materials: Primary Mortgage Market Survey® PDF Version MCLEAN, Va., April 18, 2019 (GLOBE NEWSWIRE) — Freddie Mac(OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that fixed mortgage rates rose for the third consecutive week. Sam Khater, Freddie Mac’s chief economist, says, “After dropping…
OCC Enforcement Actions and Terminations for April 2019
April 19, 2019 / Source: OCC
NR 2019-40 FOR IMMEDIATE RELEASE April 19, 2019 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations for April 2019 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….
Agencies Seek Comments on Revisions to the Supplementary Leverage Ratio as Required by Economic Growth, Regulatory Relief, and Consumer Protection Act
April 19, 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 Immediate Release April 18, 2019 Agencies Seek Comments on Revisions to the Supplementary Leverage Ratio as Required by Economic Growth, Regulatory Relief, and Consumer Protection Act The federal bank regulatory agencies…
Consumer Financial Protection Bureau Announces Symposia Series
April 19, 2019 / Source: CFPB
Consumer Financial Protection Bureau Announces Symposia Series APR 18, 2019 SHARE THIS Share on Facebook Share on Twitter Share on LinkedIn Share on email Washington, D.C. — Consumer Financial Protection Bureau Director Kathleen L. Kraninger announced a symposia series exploring consumer protections in today’s dynamic financial services marketplace. The series is aimed at stimulating a proactive…
Federal Reserve Board announces termination of enforcement action with BB&T Corporation
April 18, 2019 / Source: FRB
Press Release April 18, 2019 Federal Reserve Board announces termination of enforcement action with BB&T Corporation For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: BB&T Corporation, Winston-Salem, North Carolina Cease and Desist Order dated January 25, 2017 (PDF) Terminated April 17,…
Beige Book – April 17, 2019
April 18, 2019 / Source: FRB
Beige Book – April 17, 2019 PDF Full ReportNational Summary This report was prepared at the Federal Reserve Bank of St. Louis based on information collected on or before April 8, 2019. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal…
Agencies Invite Comment on Modifications to Resolution Plan Requirements; Proposal Keeps Existing Requirements for Largest Firms and Reduces Requirements for Firms with Less Risk
April 17, 2019 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For Immediate Release April 16, 2019 Agencies Invite Comment on Modifications to Resolution Plan Requirements; Proposal Keeps Existing Requirements for Largest Firms and Reduces Requirements for Firms with Less Risk The Federal Reserve Board and the Federal Deposit Insurance…
FDIC Seeks Comment on New Approaches to Insured Depository Institution Resolution Planning
April 17, 2019 / Source: FDIC
Press Releases FDIC Seeks Comment on New Approaches to Insured Depository Institution Resolution Planning FOR IMMEDIATE RELEASE April 16, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on ways to tailor and improve…
Board of Directors: Roles and Responsibilities Webinar is Now Available!
April 16, 2019 / Source:
Board of Directors: Roles and Responsibilities Webinar is now available! Find it by going to —> News & Events —> Past Events —> Past Webinars View Webinar Here
Federal Reserve Board issues enforcement action with Princeton Capital Holdings LLC, Princeton Capital LLC, and Princap Holdings One LLC
April 16, 2019 / Source: FRB
Press Release April 16, 2019 Federal Reserve Board issues enforcement action with Princeton Capital Holdings LLC, Princeton Capital LLC, and Princap Holdings One LLC For release at 11:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Princeton Capital Holdings LLC, Princeton Capital LLC, and Princap…
Dr. Mark Calabria Sworn In as Director of the Federal Housing Finance Agency
April 16, 2019 / Source: FHFA
News Release Dr. Mark Calabria Sworn In as Director of the Federal Housing Finance Agency FOR IMMEDIATE RELEASE 4/15/2019 Washington, D.C. – In an Agency ceremony, Dr. Mark A. Calabria was sworn in today to a five-year term as the second Senate-confirmed Director of the Federal Housing Finance Agency (FHFA). Dr. Calabria was appointed to head…
Federal Reserve fines UniCredit $158 million for firm’s unsafe and unsound practices related to inadequate sanctions controls and supervision of subsidiary banks
April 15, 2019 / Source: FRB
Press Release April 15, 2019 Federal Reserve fines UniCredit $158 million for firm's unsafe and unsound practices related to inadequate sanctions controls and supervision of subsidiary banks For release at 1:00 p.m. EDT Share The Federal Reserve Board on Monday announced it has fined UniCredit, S.p.A., a foreign bank operating in the United States and…