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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OCC Consolidates Supervision Support Functions, Announces New Units

July 31, 2019 / Source: OCC

NR 2019-84 FOR IMMEDIATE RELEASE July 31, 2019 Contact: Bryan Hubbard (202) 649-6870 OCC Consolidates Supervision Support Functions, Announces New Units WASHINGTON — The Office of the Comptroller of the Currency today announced realignment of approximately 150 staff members to create two new units, consolidating bank supervision support, risk analysis, and oversight of national trust…

FDIC Annual Publication Examines Potential Credit and Market Risks

July 31, 2019 / Source: FDIC

Press Releases FDIC Annual Publication Examines Potential Credit and Market Risks FOR IMMEDIATE RELEASE July 30, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation (FDIC) today published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures in the banking system. The publication will be of particular interest to…

Minnesota Couple Pleads Guilty for Long-Running Fraud Scheme

July 30, 2019 / Source: FDICIG

FOR IMMEDIATE RELEASE Thursday, July 25, 2019 Minnesota Couple Pleads Guilty for Long-Running Fraud Scheme   Real Estate Company Pleads Guilty to Fraud Conspiracy Detloff Marketing and Asset Management Inc. (Detloff Marketing), a real estate company based in Hopkins, Minnesota; its owner, Jeffery J. Detloff; and its accountant, Lori K. Detloff, pleaded guilty today in…

Delhi farmer pleads guilty to lying to various business and government entities to steal nearly $17 million

July 30, 2019 / Source: FDICIG

FOR IMMEDIATE RELEASE Tuesday, July 16, 2019 Delhi farmer pleads guilty to lying to various business and government entities to steal nearly $17 million MONROE, La. – A Delhi, Louisiana, farmer pleaded guilty Monday to lying to more than seven financial institutions, insurance providers and government entities in an effort to obtain nearly $17 million illegally,…

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Tornadoes, and Flooding

July 29, 2019 / Source: FDIC

Financial Institution Letters FIL-44-2019 July 26, 2019 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Tornadoes, and Flooding Printable Format: FIL-44-2019 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in…

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding

July 29, 2019 / Source: FDIC

Financial Institution Letters FIL-45-2019 July 26, 2019 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding Printable Format: FIL-45-2019 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas…

Agencies complete resolution plan evaluations and extend deadline for certain firms

July 29, 2019 / Source: FRB

Joint Press Release July 26, 2019 Agencies complete resolution plan evaluations and extend deadline for certain firms Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 2:00 p.m. EDT Share The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced several resolution plan actions, including completing their…

FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2019

July 26, 2019 / Source: FDIC

Press Releases FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2019 FOR IMMEDIATE RELEASE July 26, 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 June. There are no administrative…

Consumer Financial Protection Bureau Releases Qualified Mortgage ANPR

July 26, 2019 / Source: CFPB

Consumer Financial Protection Bureau Releases Qualified Mortgage ANPR JUL 25, 2019 Washington, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for purchase or guarantee by the Government Sponsored Enterprises…

CFPB and the New York Attorney General Settle with Debt Collection Group

July 25, 2019 / Source: CFPB

CFPB and the New York Attorney General Settle with Debt Collection Group JUL 25, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) and the New York Attorney General today filed proposed settlements with debt collectors Douglas MacKinnon, Northern Resolution Group, LLC, Enhanced Acquisitions, LLC, Delray Capital, LLC, and Mark Gray. The individuals and…

Federal Reserve Board announces termination of enforcement actions with Mesaba Bancshares, Inc. and First National Financial Services, Inc.

July 25, 2019 / Source: FRB

Press Release July 25, 2019 Federal Reserve Board announces termination of enforcement actions with Mesaba Bancshares, Inc. and First National Financial Services, Inc. For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below: Mesaba Bancshares, Inc., Grand Rapids, Minnesota Written Agreement dated August…

FDIC Announces Meeting of Advisory Committee on Community Banking on July 30, 2019

July 24, 2019 / Source: FDIC

Press Releases FDIC Announces Meeting of Advisory Committee on Community Banking FOR IMMEDIATE RELEASE July 24, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today announced that it will hold a meeting of the Advisory Committee on Community Banking on Tuesday, July 30. FDIC senior staff will provide an…

OCC Issues Consent Order of Prohibition and $50,000 Civil Money Penalty Against Former General Counsel of Rabobank N.A.

July 24, 2019 / Source: OCC

NR 2019-82 FOR IMMEDIATE RELEASE July 23, 2019 Contact: Bryan Hubbard (202) 649-6870 OCC Issues Consent Order of Prohibition and $50,000 Civil Money Penalty Against Former General Counsel of Rabobank N.A. WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the issuance of a consent order of prohibition and $50,000 civil money penalty…

OCC BULLETIN 2019-36: Lending Standards for Asset Dissipation Underwriting

July 23, 2019 / Source: OCC

OCC BULLETIN 2019-36 Subject: Mortgage Lending Date: July 23, 2019 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 Description: Lending Standards for Asset Dissipation Underwriting Summary The Office of the Comptroller of the Currency (OCC) encourages banks1 to…

Agencies release public sections of resolution plans for eight large banks

July 23, 2019 / Source: FRB

Joint Press Release July 23, 2019 Agencies release public sections of resolution plans for eight large banks Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 12:00 p.m. EDT Share The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) today released the public sections of eight large…

Federal Bank Regulatory Agencies and FinCEN Improve Transparency of Risk-Focused BSA/AML Supervision

July 22, 2019 / Source: OCC

Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Financial Crimes Enforcement Network National Credit Union Administration Office of the Comptroller of the Currency NR 2019-81 FOR IMMEDIATE RELEASE July 22, 2019 Federal Bank Regulatory Agencies and FinCEN Improve Transparency of Risk-Focused BSA/AML Supervision WASHINGTON – As a result of…

CFPB, FTC and States Announce Settlement with Equifax Over 2017 Data Breach

July 22, 2019 / Source: CFPB

CFPB, FTC and States Announce Settlement with Equifax Over 2017 Data Breach JUL 22, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau), the Federal Trade Commission (FTC), and 48 states, the District of Columbia and Puerto Rico announced a global settlement today with Equifax that would provide up to $700 million in monetary relief…

Interagency Webinar Revisions to the Framework for Margin Requirements for Non-Centrally Cleared Derivatives

July 22, 2019 / Source: FDIC

Financial Institution Letters FIL-42-2019 July 22, 2019 Interagency Webinar Revisions to the Framework for Margin Requirements for Non-Centrally Cleared Derivatives Printable Format: FIL-42-2019 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency are jointly hosting a webinar on revisions to…

FASB STAFF ISSUES Q&A TO HELP ORGANIZATIONS ESTIMATE EXPECTED CREDIT LOSSES ON FINANCIAL ASSETS

July 19, 2019 / Source: FASB

FASB STAFF ISSUES Q&A TO HELP ORGANIZATIONS ESTIMATE EXPECTED CREDIT LOSSES ON FINANCIAL ASSETS   Board also authorizes staff to plan CECL workshops around the United States Norwalk, CT, July 17, 2019—The Financial Accounting Standards Board (FASB) staff today issued a second question-and-answer (Q&A) document that addresses more than a dozen frequently asked  questions related to Accounting Standards…

Statement by FinCEN Director Kenneth A. Blanco

July 19, 2019 / Source: FinCEN

Statement by FinCEN Director Kenneth A. Blanco in Support of Yesterday's Anti-Terrorism Financing Actions by Argentina and Its Financial Intelligence Unit   Immediate Release July 19, 2019 “Yesterday, Argentina’s Unidad de Informaciὀn Financiera de la República Argentina (UIF-AR) took courageous action to freeze assets belonging to the Hezbollah terrorist organization and list them on a public registry pursuant to a…

Consumer Financial Protection Bureau Releases Report on Third-Party Debt Collections

July 18, 2019 / Source: CFPB

Consumer Financial Protection Bureau Releases Report on Third-Party Debt Collections JUL 18, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) released a report today that found that more than one-in-four consumers with a credit report have at least one debt in collection by third-party debt collectors. Today’s report, which covers 2004 to 2018, is…

NR 2019-80: OCC Enforcement Actions and Terminations

July 18, 2019 / Source: OCC

NR 2019-80 FOR IMMEDIATE RELEASE July 18, 2019 Contact: (202) 649-6870 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…

Featured July Webinar – FCRA

July 18, 2019

FCRA Webinar 2019 Thursday – July 18, 2019 – 2:30 pm Central Time Zone This session will cover FCRA requirements related to consumer credit reports and covering permissible purpose, adverse action, risk-based pricing, required notices, affiliate sharing, employment requirements and medical information. The presentation will focus on hot topics that are asked about and requested…

Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults

July 17, 2019 / Source: CFPB

Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults JUL 17, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim…

Federal Bank Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under Volcker Rule

July 17, 2019 / Source: OCC

Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency NR 2019-79 FOR IMMEDIATE RELEASE July 17, 2019 Federal Bank Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under Volcker Rule The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the…