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—posting relevant information to our News page. This is a valuable resource for Bank Managers and their employees.

Whitelist [email protected] to ensure that you receive your update email.

If you’re still having difficulties receiving this Daily Email Campaign, please contact us at once through [email protected].

Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1

August 4, 2022 / Source: FRB

Following its stress test earlier this year, the Federal Reserve Board today announced the individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are in part determined by the Board’s stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The “Large Banks Capital Requirements” table…

The Convergence of Payments and Commerce: Implications for Consumers

August 4, 2022 / Source: CFPB

In recent years, the payment space has moved from an ecosystem with clear constraints and established players to a rapidly evolving environment. While there has been significant attention paid to specific technologies and solutions (e.g., blockchain), there has been less attention paid to the broader changes occurring across the ecosystem. Retail banks, established payment networks,…

Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee

August 3, 2022 / Source: Treasury

Letter to the Secretary Dear Madam Secretary: Economic activity fell at a 0.9% pace in the second quarter of 2022, reflecting weaker demand growth and a 2pp drag from a decline in the pace of inventory accumulation.  Residential investment declined at a 14% annualized rate as rising mortgage rates weighed heavily on the housing sector,…

FDIC Issues List of Banks Examined for CRA Compliance

August 3, 2022 / Source: Treasury

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2022. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet…

Treasury Targets Companies Supporting Iranian Petrochemical Conglomerate

August 1, 2022 / Source: Treasury

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against companies used by Iran’s Persian Gulf Petrochemical Industry Commercial Co. (PGPICC), one of the nation’s largest petrochemical brokers, to facilitate the sale of tens of millions of dollars’ worth of Iranian petroleum and petrochemical products from Iran…

Treasury Announces Marketable Borrowing Estimates

August 1, 2022 / Source: Treasury

WASHINGTON — The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the July – September 2022 and October – December 2022 quarters.[2]   During the July – September 2022 quarter, Treasury expects to borrow $444 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $650 billion.[3] The…

Economy Statement by Benjamin Harris, Assistant Secretary for Economy Policy, for the Treasury Borrowing Advisory Committee August 1, 2022

August 1, 2022 / Source: Treasury

Economic data were mixed in the second quarter of 2022.  Real GDP contracted mildly for a second consecutive quarter, but employment continued to rise.  Firms added an average of 375,000 jobs per month and the unemployment rate remained near a half-century low.  Surging energy and food prices—due in part to Russia’s invasion of Ukraine—pushed up…