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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Agencies release 2020 annual CRA asset-size threshold adjustments for small and intermediate small institutions
January 02, 2020 / Source: FRB
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.
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Rescission of FDIC Statements of Policy
December 31, 2019 / Source: FDIC
As part of a continuing effort to reduce regulatory burden, the FDIC is rescinding four FDIC Statements of Policy that are outdated.
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2019 College credit card agreements
December 31, 2019 / Source: CFPB
The Credit Card Accountability, Responsibility, and Disclosure Act (“CARD Act” or “Act”) requires the Bureau of Consumer Financial Protection (the “Bureau”) to submit to Congress, and to make available to the public, an annual report that lists information submitted to the Bureau concerning agreements between credit card issuers and institutions of higher education or certain organizations affiliated with such institutions in connection with the issuance of credit cards.
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Treatment of Extensions of Credit to Certain Investment Funds and Their Portfolio Investments Under 12 CFR 215 and 12 CFR 363: Interagency Statement
December 30, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) today issued the “Statement Regarding Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements Under Part 363 of FDIC Regulations.”
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CFPB Issues Financial Literacy Annual Report
December 27, 2019 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) issued its Financial Literacy Annual Report for fiscal year 2019.
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FDIC Makes Public November 2019 Enforcement Actions
December 27, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in November. There are no administrative hearings scheduled for January 2020.
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Federal Reserve approves modifications to National Settlement Service and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse service
December 23, 2019 / Source: FRB
The Federal Reserve Board on Monday approved modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse (ACH) service.
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FDIC’s Supervisory Insights Fall 2019 Edition Focuses on Commercial Real Estate Lending and the Leveraged Lending Market
December 23, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued the Fall 2019 issue of Supervisory Insights, which contains two articles of interest to bank management.
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Agencies Extend Comment Period for Proposed Rule to Amend Swap Margin Rules
December 23, 2019 / Source: OCC
Five federal agencies today announced they will reopen and extend until January 23, 2020, the comment period on a proposal to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities.
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Agencies extend deadline on request for information on CAMELS rating system
December 20, 2019 / Source: FRB
The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday announced that they will extend until February 28, 2020, the deadline on the request for information on their use of the Uniform Financial Institutions Rating System, also known as the CAMELS rating system.
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Federal Reserve report assesses information presented to prospective borrowers on small business online lender websites
December 20, 2019 / Source: FRB
The Federal Reserve Board on Thursday released Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites, a report that examines the information that prospective small business borrowers encounter when researching and comparing credit products offered by online lenders.
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Federal Reserve payments study finds growth in card and automated clearinghouse payments
December 19, 2019 / Source: FRB
The growth of payments using debit and credit cards and the automated clearinghouse (ACH) system continued to accelerate from 2015 to 2018, while check payments continued their long-run decline, according to U.S. noncash payments data collected by the Federal Reserve.
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News Release 2019-151: OCC Enforcement Actions and Terminations
December 19, 2019 / Source: OCC
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.
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OCC Reports Mortgage Performance Improves Slightly
December 19, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2019.
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Agencies Find No Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms
December 18, 2019 / Source: FDIC
The Federal Reserve Board and Federal Deposit Insurance Corporation announced Tuesday that they did not find any "deficiencies," which are weaknesses that could result in additional prudential requirements if not corrected, in the resolution plans of the largest and most complex domestic banks.
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Federal Reserve Board announces series of “fintech innovation office hours” across the country to meet with banks and companies engaged in emerging financial technologies
December 18, 2019 / Source: FRB
The Federal Reserve Board on Tuesday announced that it will hold a series of "fintech innovation office hours" across the country to meet with banks and companies engaged in emerging financial technologies, popularly known as fintech.
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FDIC Announces Departure of Chief Information Officer Howard Whyte
December 17, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced that Howard Whyte, Chief Information Officer (CIO) and Chief Privacy Officer, has resigned his position to pursue an opportunity in the private sector. Mr. Whyte's final day at the FDIC will be January 3, 2020.
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Federal Reserve Board announces approval of application by First Citizens BancShares, Inc.
December 17, 2019 / Source: FRB
The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by First Citizens BancShares, Inc., Raleigh, North Carolina, to acquire Entegra Financial Corp. ("Entegra") and thereby indirectly acquire Entegra's state nonmember bank subsidiary, Entegra Bank, both of Franklin, North Carolina.
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Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data
December 16, 2019 / Source: OCC
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA.
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Federal Reserve Board announces it will extend until January 22, 2020, comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Bo
December 16, 2019 / Source: FRB
The Federal Reserve Board announced on Friday that it will extend until January 22, 2020, the comment period for its proposal to establish risk-based capital requirements for certain insurance companies supervised by the Board.
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FDIC and OCC Propose to Modernize Community Reinvestment Act Regulations
December 13, 2019 / Source: OCC
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years.
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Federal Reserve Board announces annual adjustment to the asset-size threshold in Regulation I
December 13, 2019 / Source: FRB
The Federal Reserve Board on Thursday announced the annual adjustment to the asset-size threshold in Regulation I that determines the dividend rate paid to banks that are members of the Federal Reserve System.
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Federal Reserve Board announces termination of enforcement actions with JPMorgan Chase & Co., Spirit BankCorp, Inc., U.S. Bancorp, and USB Americas Holdings Company
December 12, 2019 / Source: FRB
The Federal Reserve Board on Thursday announced the termination of the enforcement actions.
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Listening Session on Supervisory Appeals and Dispute Resolution Processes: Webinar for Bank Officers and Other Interested Parties
December 12, 2019 / Source: FDIC
As part of the FDIC's "Trust Through Transparency" initiative, the agency will host a webinar to solicit feedback regarding its supervisory appeals and dispute resolution processes for FDIC-supervised financial institutions.
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December 11, 2019: Federal Reserve issues FOMC statement
December 12, 2019 / Source: FRB
Information received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate.