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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FFIEC Announces Availability of 2018 Data on Mortgage Lending

August 30, 2019 / Source: FFIEC

Press Release For Immediate Release August 30, 2019   FFIEC Announces Availability of 2018 Data on Mortgage Lending   The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,683 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations,…

OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Dorian in Southeast United States to Close

August 30, 2019 / Source: OCC

News Release 2019-101 | August 30, 2019 OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Dorian in Southeast United States to Close SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected…

FDIC Issues CRA Examination Schedules for Fourth Quarter 2019 and First Quarter 2020

August 30, 2019 / Source: FDIC

Press Releases FDIC Issues CRA Examination Schedules for Fourth Quarter 2019 and First Quarter 2020 FOR IMMEDIATE RELEASE August 30, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter of 2019 and…

FDIC Makes Public July 2019 Enforcement Actions

August 30, 2019 / Source: FDIC

Press Releases FDIC Makes Public July Enforcement Actions; One Administrative Hearing Scheduled for September 2019 FOR IMMEDIATE RELEASE August 30, 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 July. There is one administrative…

Consumer Financial Protection Bureau Settles with Asset Recovery Associates

August 29, 2019 / Source: CFPB

Consumer Financial Protection Bureau Settles with Asset Recovery Associates AUG 28, 2019 WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (Bureau) announced a settlement with Asset Recovery Associates, Inc. (ARA), a debt-collection company headquartered in Illinois. ARA, also known as Financial Credit Service, Inc., collects debts from consumers throughout the United States. According to the consent…

Comptroller of the Currency Visits New Mexico Pueblos to Discuss Community Reinvestment Act and Bank Services

August 29, 2019 / Source: OCC

News Release 2019-100 | August 28, 2019 Comptroller of the Currency Visits New Mexico Pueblos to Discuss Community Reinvestment Act and Bank Services SHARE THIS PAGE: ·           ALBUQUERQUE, N.M.—Comptroller of the Currency Joseph Otting today visited Native American pueblos in New Mexico as part of a nationwide effort to discuss modernizing Community Reinvestment Act (CRA) regulations and…

Interagency Webinar: Applying Model Risk Management to Current Expected Credit Losses (CECL) Models at Large Banks

August 28, 2019 / Source: FDIC

Financial Institution Letters FIL-48-2019 August 27, 2019 Interagency Webinar: Applying Model Risk Management to Current Expected Credit Losses (CECL) Models at Large Banks Printable Format: FIL-48-2019 – PDF (PDF Help) Summary: The FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency (the Agencies) will jointly host a webinar to clarify the use…

OCC Issues Fourth Quarter 2019 and First Quarter 2020 CRA Evaluation Schedule

August 28, 2019 / Source: OCC

News Release 2019-99 | August 27, 2019 OCC Issues Fourth Quarter 2019 and First 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 fourth quarter 2019 and first quarter 2020. The OCC encourages…

CFPB Releases Report on Consumer Credit Card Market

August 27, 2019 / Source: CFPB

CFPB Releases Report on Consumer Credit Card Market AUG 27, 2019 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today released its fourth biennial report on the state of the credit card market for the period 2017-2018.  In 2009, the Credit Card Accountability Responsibility and Disclosure Act (Act) made substantial changes to the legal requirements…

Flood Disaster Protection Act: Revised Interagency Examination Procedures

August 27, 2019 / Source: OCC

OCC Bulletin 2019-42| August 27, 2019 Flood Disaster Protection Act: Revised Interagency Examination Procedures SHARE THIS PAGE: ·           To Chief Executive Officers and Compliance 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 The Task Force on Consumer Compliance of the…

Final Rule to Amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination”

August 27, 2019 / Source: FDIC

Financial Institution Letters FIL-46-2019 August 26, 2019 Final Rule to Amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination” Printable Format: FIL-46-2019 – PDF (PDF Help) Summary: The FDIC Board has approved a final rule to amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination” (the “Rule”). The Rule would make certain…

Former Bank Executive Found Guilty in $15 Million Construction Loan Fraud Scheme

August 26, 2019 / Source: FDICOIG

FOR IMMEDIATE RELEASE Tuesday, August 20, 2019 Former Bank Executive Found Guilty in $15 Million Construction Loan Fraud Scheme A former Kansas bank executive was found guilty by a federal jury yesterday for his participation in a bank fraud scheme to obtain a $15 million construction loan for certain bank customers based upon false and fraudulent representations.  The…

OCC Hosts Minority Depository Institutions Advisory Committee Meeting on Thursday, September 19, 2019

August 26, 2019 / Source: OCC

News Release 2019-98 | August 26, 2019 OCC Hosts Minority Depository Institutions Advisory Committee Meeting SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT)….

OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17

August 26, 2019 / Source: OCC

News Release 2019-97 | August 26, 2019 OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17 SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday September 17, 2019, beginning at 8:30 a.m. Eastern Daylight…

Federal Reserve announces results of offering of seven-day term deposits on August 22

August 23, 2019 / Source: FRB

Press Release August 22, 2019 Federal Reserve announces results of offering of seven-day term deposits on August 22 For release at 3:30 p.m. EDT Share On August 22, 2019, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal…

OCC Hosts Risk Governance and Credit Risk Workshops in Chicago

August 23, 2019 / Source: OCC

NR 2019-96 FOR IMMEDIATE RELEASE August 22, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Hosts Risk Governance and Credit Risk Workshops in Chicago WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops at the OCC Central District Office in Chicago, October 1 and 2, for directors of national community…

FinCEN Advisory Alerts Financial Sector to Fentanyl Trafficking Schemes

August 22, 2019 / Source: FinCEN

FinCEN Advisory Alerts Financial Sector to Fentanyl Trafficking Schemes   Immediate Release August 21, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to alert financial institutions to financial schemes related to the trafficking of fentanyl and other synthetic opioids. Information in the advisory will assist them in detecting and reporting related criminal…

Comptroller of the Currency Visits New York Neighborhoods Supported by the Community Reinvestment Act, Discusses Opportunities to Do More

August 22, 2019 / Source: OCC

NR 2019-95 FOR IMMEDIATE RELEASE August 21, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Visits New York Neighborhoods Supported by the Community Reinvestment Act, Discusses Opportunities to Do More WASHINGTON — Comptroller of the Currency Joseph Otting today participated in a tour of New York neighborhoods to see firsthand the success of…

Minutes of the Federal Open Market Committee, July 30-31, 2019

August 22, 2019 / Source: FRB

Press Release August 21, 2019 Minutes of the Federal Open Market Committee, July 30-31, 2019 For release at 2:00 p.m. EDT Share The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 30-31, 2019. The minutes for each regularly scheduled meeting of…

Five Fraudsters Indicted For Million Dollar Scheme Targeting Thousands of U.S. Servicemembers and Veterans

August 21, 2019 / Source: DOJ

JUSTICE NEWS     Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 21, 2019 Five Fraudsters Indicted For Million Dollar Scheme Targeting Thousands of U.S. Servicemembers and Veterans Foreign-Based Fraudsters Stole Millions of Dollars from Mostly Elderly and Disabled Veterans A 14-count indictment has been unsealed today in San Antonio, Texas,…

FDIC Issues Proposed Rule on Certain Assessment Credits

August 21, 2019 / Source: FDIC

Press Releases FDIC Issues Proposed Rule on Certain Assessment Credits FOR IMMEDIATE RELEASE August 20, 2019 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today approved a notice of proposed rulemaking that would amend the deposit insurance assessment regulations that govern the use of small bank assessment credits and…

August 20, 2019: Federal Reserve Board issues enforcement actions

August 21, 2019 / Source: FRB

Press Release August 20, 2019 Federal Reserve Board issues enforcement actions with First Ipswich Bank, Brookline Bank, and former employee of Farmers & Merchants Bank For release at 11:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: First Ipswich Bank, Ipswich, Massachusetts Flood insurance violation…

FDIC Approves Interagency Final Rule to Simplify and Tailor the “Volcker Rule”

August 20, 2019 / Source: FDIC

FDIC Approves Interagency Final Rule to Simplify and Tailor the “Volcker Rule” FOR IMMEDIATE RELEASE August 20, 2019 Media contact: David Barr (202) 898-6895 [email protected] The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved an interagency final rule to simplify and tailor requirements relating to Section 619 of the Dodd-Frank Wall…

FDIC Issues Proposed Rule on Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions

August 20, 2019 / Source: FDIC

Press Releases FDIC Issues Proposed Rule on Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions FOR IMMEDIATE RELEASE August 20, 2019 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued a notice of proposed rulemaking (NPR) related to interest rate restrictions that apply to less than…

Comptroller of the Currency Approves Volcker Rule Reforms

August 20, 2019 / Source: OCC

NR 2019-94 FOR IMMEDIATE RELEASE August 20, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Approves Volcker Rule Reforms WASHINGTON, DC — Comptroller of the Currency Joseph Otting today signed a final rule amending the “Volcker Rule” to tailor and simplify the rule while maintaining protections core to the safety and soundness of…