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 Issues CRA Examination Schedules for Second and Third Quarter 2020

February 28, 2020 / Source: FDIC

Press Releases FDIC Issues CRA Examination Schedules for Second and Third Quarter 2020 FOR IMMEDIATE RELEASE February 28, 2020 Media contact: David Barr Office: (202) 898-6992 Cell: (703) 622-4790 The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second and third quarter…

FDIC Makes Public January 2020 Enforcement Actions

February 28, 2020 / Source: FDIC

Press Releases FDIC Makes Public January Enforcement Actions; No Administrative Hearings Scheduled for March 2020 FOR IMMEDIATE RELEASE February 28, 2020 Media contact: David Barr Office: (202) 898-6992 Cell: (703) 622-4790 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January….

OCC Issues Second and Third Quarter 2020 CRA Evaluation Schedule

February 28, 2020 / Source: OCC

News Release 2020-23 | February 28, 2020 OCC Issues Second and Third Quarter 2020 CRA Evaluation Schedule    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 second quarter and third quarter 2020. The OCC encourages public comment on the national banks and…

CFPB Publishes TRID FAQ’s on Treatment of Lender Credits

February 27, 2020 / Source: Ballard Spahr LLP

CFPB Publishes TRID FAQ’s on Treatment of Lender Credits By Amanda E. Phillips on February 27, 2020 The CFPB recently published ten new TRID FAQs related to lender credits. Previously the CFPB staff provided informal verbal guidance regarding lender credits, and the 2017 amendments to the TRID rule, often referred to as TRID 2.0, added commentary to TRID provisions of…

OCC Hosts Risk Governance and Credit Workshops in West Virginia

February 27, 2020 / Source: OCC

News Release 2020-22 | February 27, 2020 OCC Hosts Risk Governance and Credit Workshops in West Virginia WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops at the Holiday Inn & Suites in Charleston, West Virginia, April 14 and 15, for directors of national community banks and federal savings associations supervised by the OCC….

Thune, Baldwin Urge Financial Regulators to Ensure the Agriculture Industry has Adequate Access to Capital

February 26, 2020 / Source: John Thune, U.S. Senator

Recent Press Releases Thune, Baldwin Urge Financial Regulators to Ensure the Agriculture Industry has Adequate Access to Capital “Community financial institutions have a great deal of experience in agriculture lending during downturns in the farm economy, and we urge you to encourage your examiners to continue valuing their judgment when it comes to providing capital…

FHFA Issues RFI on FHLBank Membership

February 26, 2020 / Source: FHFA

News Release FHFA Issues RFI on FHLBank Membership FOR IMMEDIATE RELEASE 2/24/2020 Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on Federal Home Loan Bank (FHLBank) membership. The RFI, part of a holistic review of FHLBank membership, seeks public input on whether FHFA's existing regulation on FHLBank membership…

FDIC-Insured Institutions Reported Net Income of $55.2 Billion in Fourth Quarter 2019

February 25, 2020 / Source: FDIC

Press Releases FOR IMMEDIATE RELEASE February 25, 2020 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] FDIC-Insured Institutions Reported Net Income of $55.2 Billion in Fourth Quarter 2019 Full–Year 2019 Net Income Declined 1.5 Percent to $233.1 Billion Quarterly Net Income Declined 6.9 Percent from Fourth Quarter 2018 Net Interest Margin Declined from a Year…

FDiTech Releases New Guide to Help ‘FinTechs’ Connect with Banks

February 25, 2020 / Source: FDIC

Press Releases FDiTech Releases New Guide to Help 'FinTechs' Connect with Banks FDIC seeks to promote innovation in banking to meet growing consumer demand FOR IMMEDIATE RELEASE February 24, 2020 Media Contact: Julianne Fisher Breitbeil 202-898-6895 [email protected] WASHINGTON – In its continuing effort to encourage technological innovation in the banking sector, the Federal Deposit Insurance…

Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts without Customer Authorization

February 24, 2020 / Source: FDIC OIG

FOR IMMEDIATE RELEASE Friday, February 21, 2020 Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts without Customer Authorization $3 Billion Payment Result of Deferred Prosecution Agreement in Criminal Matter, Settlement of Civil Claims under FIRREA and Resolution of SEC Proceedings…

FDIC Recognizes Four Institutions for Expanding Financial Literacy

February 24, 2020 / Source: FDIC

FDIC Recognizes Four Institutions for Expanding Financial Literacy Organizations honored during America Saves Week FOR IMMEDIATE RELEASE February 24, 2020 Media Contact: Julianne Fisher Breitbeil 202-898-6895 [email protected] WASHINGTON – As America Saves Week approaches, the Federal Deposit Insurance Corporation (FDIC) today is recognizing four institutions for their work to expand financial education and support healthy banking relationships….

Consumer Financial Protection Bureau Issues Supplemental Notice of Proposed Rulemaking on Time-Barred Debt Disclosures

February 21, 2020 / Source: CFPB

Consumer Financial Protection Bureau Issues Supplemental Notice of Proposed Rulemaking on Time-Barred Debt Disclosures FEB 21, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued a Supplemental Notice of Proposed Rulemaking (Supplemental NPRM) regarding the collection of time-barred debt. The Bureau proposes to prohibit collectors from using non-litigation means (such as calls) to…

Federal Banking Agencies Host the 2020 National Interagency Community Reinvestment Conference

February 21, 2020 / Source: OCC

News Release 2020-21 | February 21, 2020 Federal Banking Agencies Host the 2020 National Interagency Community Reinvestment Conference Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of Comptroller of the Currency The 2020 National Interagency Community Reinvestment Conference takes place in Denver from March 9 to 12. The conference is hosted…

Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers

February 20, 2020 / Source: CFPB

Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers FEB 20, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge today filed a lawsuit in federal district court in the District of…

News Release 2020-20 : OCC Enforcement Actions and Terminations

February 20, 2020 / Source: OCC

News Release 2020-20 | February 20, 2020 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…

FDIC Seeks Information on How to Modernize Signage and Advertising Requirements

February 20, 2020 / Source: FDIC

Press Releases FDIC Seeks Information on How to Modernize Signage and Advertising Requirements New standards considered to reflect developments in banking, prevent fraud, avoid consumer confusion FOR IMMEDIATE RELEASE February 19, 2020 Media contact: Brian Sullivan [email protected] (202) 898-6534 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking the public's…

FDIC and OCC Announce 30-day Extension of Comment Period for Proposed Changes to Community Reinvestment Act Rules

February 19, 2020 / Source: OCC

News Release 2020-19 | February 19, 2020 FDIC and OCC Announce 30-day Extension of Comment Period for Proposed Changes to Community Reinvestment Act Rules   Joint Release Federal Deposit Insurance Corporation Office of Comptroller of the Currency WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period…

Minutes of the Federal Open Market Committee, January 28-29, 2020

February 19, 2020 / Source: FRB

Press Release February 19, 2020 Minutes of the Federal Open Market Committee, January 28-29, 2020 For release at 2:00 p.m. EST Share The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 28-29, 2020. The minutes for each regularly scheduled meeting of…

Standardized Approach for Counterparty Credit Risk: Final Rule

February 18, 2020 / Source: OCC

OCC Bulletin 2020-7| February 18, 2020 Standardized Approach for Counterparty Credit Risk: Final Rule   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 Summary On January 24, 2020, the Office of the Comptroller of the Currency, the Board of…

FDIC Releases Economic Scenarios for 2020 Stress Testing

February 18, 2020 / Source: FDIC

Press Releases FDIC Releases Economic Scenarios for 2020 Stress Testing FOR IMMEDIATE RELEASE February 14, 2020 Media contact: David Barr (202) 898-6992 [email protected] WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than $250 billion….

Supervisory Highlights, Issue No. 21 (Winter 2020)

February 14, 2020 / Source: CFPB

Supervisory Highlights Supervisory Highlights, Issue No. 21 (Winter 2020) In this issue of Supervisory Highlights, we report examination findings in the areas of debt collection, mortgage servicing, payday lending, and student loan servicing that were completed between April 2019 and August 2019. The report does not impose any new or different legal requirements, and all violations…

Senator Calls for Creation of Federal Online Privacy Agency

February 14, 2020 / Source: BankInfoSecurity

Senator Calls for Creation of Federal Online Privacy Agency Kirsten Gillibrand's Proposal Would Take Responsibility Away From FTCApurva Venkat (@VenkatApurva) • February 14, 2020  Sen. Kirsten Gillibrand, D-N.Y., is proposing the creation of a new federal agency dedicated to protecting online privacy, taking that task away from the Federal Trade Commission. Gillibrand, who briefly ran for the…

Home Mortgage Disclosure Act (HMDA): FFIEC Issues 2020 Version of A Guide to HMDA Reporting: Getting It Right!

February 13, 2020 / Source: FDIC

Financial Institution Letters FIL-9-2020 February 13, 2020 Home Mortgage Disclosure Act (HMDA): FFIEC Issues 2020 Version of A Guide to HMDA Reporting: Getting It Right! Printable Format: FIL-9-2020 – PDF (PDF Help) Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued the 2020 edition of A Guide to HMDA Reporting Getting It Right! for Home Mortgage Disclosure Act-related…

Federal Reserve Board announces termination of enforcement actions with Discover Financial Services, JPMorgan Chase & Co., Deutsche Bank AG, and The Royal Bank of Scotland PLC and RBS Securities, Inc.

February 13, 2020 / Source: FRB

Press Release February 13, 2020 Federal Reserve Board announces termination of enforcement actions with Discover Financial Services, JPMorgan Chase & Co., Deutsche Bank AG, and The Royal Bank of Scotland PLC and RBS Securities, Inc. For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the termination of the enforcement actions…

FBI: Business Email Compromise Losses Hit $1.7B in 2019

February 12, 2020 / Source: NACHA

FBI: Business Email Compromise Losses Hit $1.7B in 2019 POSTED ON February 11, 2020 AUTHOR Michael W. Kahn Nacha   Business Email Compromise shows no signs of abating, as the number of complaints—and losses—soared last year, a new federal report shows. “In 2019, the IC3 received 23,775 Business Email Compromise (BEC) / Email Account Compromise…