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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February 28, 2020 / Source: OCC
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.
February 27, 2020 / Source: Ballard Spahr LLP
The CFPB recently published ten new TRID FAQs related to lender credits.
February 27, 2020 / Source: OCC
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
U.S. Sens. John Thune (R-S.D.) and Tammy Baldwin (D-Wis.) today urged financial regulators from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration to provide appropriate regulatory flexibility to community financial institutions around the country that work with farm clients.
February 26, 2020 / Source: FHFA
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on Federal Home Loan Bank (FHLBank) membership.
February 25, 2020 / Source: FDIC
For the 5,177 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $55.2 billion in fourth quarter 2019, a decline of $4.1 billion (6.9 percent) from a year ago.
February 25, 2020 / Source: FDIC
FDIC seeks to promote innovation in banking to meet growing consumer demand.
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
Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by creating false records or misusing customers’ identities, the Department of Justice announced today.
February 24, 2020 / Source: FDIC
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
The Consumer Financial Protection Bureau (Bureau) today issued a Supplemental Notice of Proposed Rulemaking (Supplemental NPRM) regarding the collection of time-barred debt.
February 21, 2020 / Source: OCC
The 2020 National Interagency Community Reinvestment Conference takes place in Denver from March 9 to 12. The conference is hosted by the three federal banking agencies, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, and the Federal Reserve Banks of San Francisco, Kansas City, and Chicago.
Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers
February 20, 2020 / Source: CFPB
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 South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC.
February 20, 2020 / 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.
February 20, 2020 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking the public's input on potential modernization of its signage and advertising requirements to better reflect how banks and savings associations currently operate and how consumers use banking services.
FDIC and OCC Announce 30-day Extension of Comment Period for Proposed Changes to Community Reinvestment Act Rules
February 19, 2020 / Source: OCC
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the rules implementing the Community Reinvestment Act (CRA) until April 8, 2020.
February 19, 2020 / Source: FRB
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.
February 18, 2020 / Source: OCC
On January 24, 2020, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) published a final rule to provide an updated framework for measuring the exposure amount of derivatives contracts.
February 18, 2020 / Source: FDIC
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.
February 14, 2020 / Source: CFPB
In this issue of Supervisory Highlights, CFPB reports 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.
February 14, 2020 / Source: BankInfoSecurity
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.
Home Mortgage Disclosure Act (HMDA): FFIEC Issues 2020 Version of A Guide to HMDA Reporting: Getting It Right!
February 13, 2020 / Source: FDIC
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 data collected in 2020 and reported in 2021.
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
The Federal Reserve Board on Thursday announced the termination of the enforcement actions.
February 12, 2020 / Source: NACHA
Business Email Compromise shows no signs of abating, as the number of complaints—and losses—soared last year, a new federal report shows.
February 12, 2020 / Source: New York Fed
Growth Seen in New Credit Extensions Across Debt Types; Transitions into Delinquency Among Credit Card Borrowers Continue to Rise.
FinCEN Issues Administrative Ruling on the Reporting of Certain Currency Transactions for Sole Proprietorships and Legal Entities Operating Under a DBA Name
February 11, 2020 / Source: FinCEN
The Financial Crimes Enforcement Network (FinCEN) has issued an administrative ruling regarding the Currency Transaction Report (CTR, FinCEN Form 112).