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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CFPB Proposes Delay of Effective Date for Recent Debt Collection Rules
April 07, 2021 / Source: CFPB
The Consumer Financial Protection Bureau today proposed extending the effective date of two recent debt collection rules to give affected parties more time to comply due to the ongoing COVID-19 pandemic.
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Minutes of the Federal Open Market Committee, March 16-17, 2021
April 07, 2021 / Source: FRB
The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 16–17, 2021.
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CFPB Takes Action Against Debt Collector And Its Owner For Falsely Threatening Consumers with Legal Action
April 06, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today issued a consent order against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action.
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FDIC Launches #GetBanked Campaign in Houston and Atlanta
April 06, 2021 / Source: FDIC
As part of its ongoing efforts to expand financial inclusion, the Federal Deposit Insurance Corporation (FDIC) today launched a public awareness campaign about the benefits of opening a bank account.
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FDIC Names New Members to Advisory Committee on Community Banking Tuesday, April 6, 2021
April 06, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced nine new members of its Advisory Committee on Community Banking, which shares input with the FDIC on a broad range of community bank policy and regulatory matters.
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Interest Rate Risk: Interest Rate Risk Statistics Report April 1, 2021
April 05, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today published the spring 2021 edition of the semiannual Interest Rate Risk Statistics Report.
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CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures
April 05, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.
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Consolidated Reports of Condition and Income for First Quarter 2021
April 05, 2021 / Source: FDIC
The attached materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the March 31, 2021, report date.
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OCC Promotes April as National Financial Capability Month
April 02, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) encourages national banks and federal savings associations (collectively, banks) to support financial literacy education year-round but especially during National Financial Capability Month, which runs through April 30.
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FDIC Issues List of Banks Examined for CRA Compliance Friday, April 2, 2021
April 02, 2021 / 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).
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CFPB Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable
April 01, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall.
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Federal Reserve Board publishes frequently asked questions (FAQs) comprising existing legal interpretations related to a number of the Board’s longstanding regulations
April 01, 2021 / Source: FRB
The Federal Reserve Board on Wednesday published frequently asked questions (FAQs) comprising existing legal interpretations related to a number of the Board's longstanding regulations.
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FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement
April 01, 2021 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA).
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Artificial Intelligence: Request for Information on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning
March 31, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) and other members of the Federal Financial Institutions Examination Council are requesting information on financial institutions' use of artificial intelligence, including machine learning.
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CFPB Rescinds Series Of Policy Statements To Ensure Industry Complies With Consumer Protection Laws
March 31, 2021 / Source: CFPB
The Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards.
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FDIC Consumer Compliance Supervisory Highlights Wednesday, March 31, 2021
March 31, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued the March 2021 edition of the Consumer Compliance Supervisory Highlights.
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Home Mortgage Disclosure Act: FFIEC’s 2021 ‘A Guide to HMDA Reporting: Getting It Right!’
March 30, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!”, which is designed to help banks comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003).
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SBA Administrator Isabella Casillas Guzman’s Statement on President Biden signing the PPP Extension Act of 2021 into law
March 30, 2021 / Source: SBA
President Joe Biden signed the PPP Extension Act of 2021 into law today, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the SBA to process applications that are still pending.
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CFPB Acting Director Uejio and FTC Acting Chairwoman Slaughter Issue Joint Statement on Preventing Illegal Evictions
March 29, 2021 / Source: CFPB
Consumer Financial Protection Bureau Acting Director Dave Uejio and Federal Trade Commission Acting Chairwoman Rebecca Slaughter issued a joint statement regarding their agencies’ work to help stop illegal evictions and protect American consumers facing economic hardship due to COVID-19.
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Agencies Seek Wide Range of Views on Financial Institutions’ Use of Artificial Intelligence
March 29, 2021 / Source: OCC
Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations.
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FDIC’s Rapid Phased Prototyping Initiative
March 26, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) is providing information and clarification for FDIC-supervised financial institutions on the FDIC’s Rapid Phased Prototyping (RPP) initiative.
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FDIC Makes Public February Enforcement Actions Friday, March 26, 2021
March 26, 2021 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February. There are no administrative hearings scheduled for April 2021.
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OCC Reports Decline in Mortgage Performance for Fourth Quarter 2020
March 25, 2021 / Source: OCC
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the fourth quarter of 2020.
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Federal Reserve announces temporary and additional restrictions on bank holding company dividends and share repurchases currently in place will end for most firms after June 30, based on results from
March 25, 2021 / Source: FRB
The Federal Reserve Board on Thursday announced that the temporary and additional restrictions on bank holding company dividends and share repurchases currently in place will end for most firms after June 30, after completion of the current round of stress tests.
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COVID-19 One Year Later
March 24, 2021 / Source: FDIC
In April 2020, the FDIC published a special edition of Consumer News, “COVID-19 and Your Financial Health,” with information to help keep consumers and their money safe by banking remotely.