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.
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Federal Reserve Board releases hypothetical scenarios for its 2020 stress test exercises
February 07, 2020 / Source: FRB
The Federal Reserve Board on Thursday released the hypothetical scenarios for the 2020 stress test exercises, which ensure that large banks have adequate capital and processes so that they can continue lending to households and businesses, even during a severe recession.
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OCC Releases Dodd-Frank Act Stress Test Scenarios for 2020
February 07, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions.
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Federal Reserve Board issues enforcement action with Farmers & Merchants Bank of Craig County
February 06, 2020 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement action.
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Man Sentenced for Embezzling $3 Million from Employer
February 06, 2020 / Source: FDICOIG
A Maryland man was sentenced today to 30 months in prison for embezzling over $3.2 million from his employer.
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News Release 2020-16: OCC Releases CRA Evaluations for 28 National Banks and Federal Savings Associations
February 05, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of January 1, 2020 through January 31, 2020.
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Consumer Financial Protection Bureau Settles Lawsuit Against Think Finance Entities
February 05, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) today announced a proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc., and six subsidiaries (collectively, the “Think Finance Entities”), to resolve the Bureau’s lawsuit, which the Bureau filed on November 15, 2017.
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FDIC Issues November 2019 List of Banks Examined for CRA Compliance
February 04, 2020 / Source: FDIC
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 November 2019.
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Federal Reserve Board announces it is permanently barring senior executive at Goldman Sachs from banking industry
February 04, 2020 / Source: FRB
The Federal Reserve Board on Tuesday announced that it is permanently barring Andrea Vella, a senior executive at Goldman Sachs, from the banking industry for his role in Goldman's financing of a defrauded Malaysian sovereign wealth fund.
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FDIC Publishes Comprehensive History of Risk-Based Pricing
February 03, 2020 / Source: FDIC
In the first of a series of staff studies to be released to the public, the Federal Deposit Insurance Corporation (FDIC) today published a comprehensive history of how the agency assessed banks to build FDIC's now 85-year-old Deposit Insurance Fund (DIF) and help achieve its mission of protecting depositors and resolving failed banks.
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Banker Webinar: Community Bank Leverage Ratio Framework
February 03, 2020 / Source: FDIC
The FDIC will host a webinar on February 25, 2020, from 2:00 p.m. to 3:30 p.m., Eastern Time (ET) to discuss the optional community bank leverage ratio (CBLR) capital framework for qualifying FDIC-supervised institutions.
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Former Stockman Bank employee sentenced to prison for stealing from customers
February 03, 2020 / Source: FDICOIG
A former Stockman Bank commercial loan assistant who admitted stealing money from the accounts of two customers, including a mentally incompetent elderly man, was sentenced today to 57 months in prison and five years of supervised release and ordered to pay $195,949 restitution, U.S. Attorney Kurt Alme said.
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Shared National Credit Review Finds Risk Remains Elevated in Leveraged Loans
January 31, 2020 / Source: OCC
Federal bank regulatory agencies find that the share and amount of loan commitments with the lowest supervisory ratings rose slightly between 2018 and 2019, according to the Shared National Credit (SNC) Program Review.
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FDIC Makes Public December Enforcement Actions
January 31, 2020 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December. There are no administrative hearings scheduled for February 2020.
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Federal Reserve finalizes rule to simplify and increase the transparency of the Board’s rules for determining control of a banking organization
January 30, 2020 / Source: FRB
The Federal Reserve Board on Thursday finalized a rule to simplify and increase the transparency of the Board's rules for determining control of a banking organization. If a company has control over a banking organization, the company generally becomes subject to the Board's rules and regulations.
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Agencies Propose Changes to Modify “Covered Funds” Restrictions of Volcker Rule
January 30, 2020 / Source: OCC
Five federal financial regulatory agencies on Thursday invited public comment on a proposal to modify regulations implementing the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds – known as "covered funds."
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Comptroller of the Currency Approves Proposal to Revise Volcker Rule Covered Funds Provisions
January 30, 2020 / Source: OCC
The Comptroller of the Currency today approved a proposed rule to revise the "covered funds" provisions in the regulations implementing Section 13 of the Bank Holding Company Act of 1956 (BHC Act), also known as the Volcker Rule.
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Federal Reserve issues FOMC statement
January 29, 2020 / Source: Federal Reserve
Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
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Comptroller of the Currency Discusses Efforts to Strengthen Community Reinvestment Act Regulations, Condition of the Federal Banking System
January 29, 2020 / Source: OCC
WASHINGTON—Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the House Financial Services Committee.
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OCC Hosts Credit Risk and Operational Risk Workshops in New Orleans
January 28, 2020 / Source: OCC
The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites by Hilton in New Orleans, March 3-4, for directors of national community banks and federal savings associations supervised by the OCC.
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Advisory: Prudent Management of Agricultural Lending During Economic Cycles
January 28, 2020 / Source: FDIC
Between 2010 and 2015, the U.S. agricultural industry enjoyed generally robust economic conditions. More recently, the industry has been experiencing low commodity prices, trade and tariff uncertainties, impacts from adverse weather conditions, and global supply and demand issues. This advisory reminds financial institutions engaged in agricultural lending to maintain sound underwriting standards, strong credit administration practices, effective risk management strategies, and appropriate allowances for losses and capital levels through the credit cycle.
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Stolen Payment Card Trafficking Mastermind Pleads Guilty
January 27, 2020 / Source: Bank Info Security
Aleksey Burkov, a Russian national who was extradited to the U.S. from Israel in November, pleaded guilty Thursday to federal charges related to owning and operating a site called "Cardplanet," which trafficked in stolen payment card data, according to the Justice Department.
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Making ACH Even Easier: Why We Need to Reduce Friction
January 27, 2020 / Source: NACHA
Easy is in the eye of the beholder. Assembling Ikea furniture is a piece of cake for some; others think it takes a master’s in engineering. While we hope using the ACH Network is nowhere near as challenging, we know there can be friction for some. Nacha has some exciting new tools to reduce that and make the ACH Network even more user-friendly.
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CFPB Announces Policy Regarding Prohibition on Abusive Acts of Practices
January 24, 2020 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) today issued a policy statement providing a common-sense framework on how it intends to apply the "abusiveness" standard in supervision and enforcement matters.
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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes
January 24, 2020 / Source: FDIC
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Puerto Rico affected by earthquakes.
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OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others
January 23, 2020 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (CEO) and other members of the bank’s operating committee.