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Mortgage Performance Declines in First Quarter 2021
June 29, 2021 / Source: OCC
News Release 2021-71 Mortgage Performance Declines in First Quarter 2021 WASHINGTON—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 first quarter of 2021. The OCC Mortgage Metrics Report, First Quarter 2021 showed that 94.2 percent of mortgages included in the report were current…
Financial Action Task Force (FATF) Advances Its Work on Proliferation Finance, Virtual Assets, Financing of Racially or Ethnically Motivated Violent Extremism, and Financial Flows Linked to Conservati
June 28, 2021 / Source: Treasury
PRESS RELEASES Financial Action Task Force (FATF) Advances Its Work on Proliferation Finance, Virtual Assets, Financing of Racially or Ethnically Motivated Violent Extremism, and Financial Flows Linked to Conservation Crime WASHINGTON – Today the Financial Action Task Force (FATF) concluded its fourth virtual plenary since the start of the ongoing COVID-19 pandemic. The FATF advanced…
CFPB Issues Rules to Facilitate Smooth Transition as Federal Foreclosure Protections Expire
June 28, 2021 / Source: CFPB
CFPB Issues Rules to Facilitate Smooth Transition as Federal Foreclosure Protections Expire Regulations Will Help Prevent Surge of Foreclosures and Protect American Economy WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and…
Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021
June 25, 2021 / Source: FRB
Press Release Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021 The Federal Reserve Board on Friday announced it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month…
Federal Reserve Board releases results of annual bank stress tests, which show that large banks continue to have strong capital levels and could continue lending to households and businesses during a
June 25, 2021 / Source: FRB
Press Release Federal Reserve Board releases results of annual bank stress tests, which show that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession The Federal Reserve Board on Thursday released the results of its annual bank stress tests, which showed that large…
FDIC Outlines Modified Approach for Insured Depository Institution Resolution Planning Rule
June 25, 2021 / Source: FDIC
Press Release FDIC Outlines Modified Approach for Insured Depository Institution Resolution Planning Rule For Release WASHINGTON – The Federal Deposit Insurance Corporation today outlined a modified approach to implementing its rule requiring certain insured depository institutions (IDIs) to submit resolution plans to facilitate resolution under the Federal Deposit Insurance Act. The modified approach applies to IDIs with…
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies June 25, 2021
June 25, 2021 / Source: FDIC
Press Release Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive…
Joint Readout of Principals Meeting of UK and U.S. Authorities Regarding Central Counterparty Resolution
June 25, 2021 / Source: FDIC
Press Release Joint Readout of Principals Meeting of UK and U.S. Authorities Regarding Central Counterparty Resolution LONDON AND WASHINGTON – Senior officials from the Bank of England, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Federal Reserve Board convened a virtual meeting today to discuss certain issues relating to the concept…
FDIC Makes Public May 2021 Enforcement Actions
June 25, 2021 / Source: FDIC
Press Release FDIC Makes Public May Enforcement Actions No Administrative Hearings Scheduled for July 2021 For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in May. There are no administrative hearings scheduled for July 2021. The FDIC issued 10…
Acting Comptroller Statement on the Vote to Overturn OCC True Lender Rule
June 25, 2021 / Source: OCC
News Release 2021-69 Acting Comptroller Statement on the Vote to Overturn OCC True Lender Rule WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement on the U.S. House of Representative’s vote to overturn the agency’s true lender rule. Today, the House voted to overturn the Office of the Comptroller of the Currency’s true lender…
CDC Eviction Moratorium Extended by One Month!
June 25, 2021 / Source: CFPB
CDC Eviction Moratorium Extended by One Month! The CDC just extended the CDC eviction moratorium until July 31, 2021. The moratorium was set to expire on June 30, 2021. Here’s what you need to know now: If you already gave your landlord a copy of the CDC declaration form If you’ve already submitted the form…
FinCEN Recognizes the Significant Impact of Bank Secrecy Act Data on Law Enforcement Efforts
June 24, 2021 / Source: FinCEN
FinCEN Recognizes the Significant Impact of Bank Secrecy Act Data on Law Enforcement Efforts Contact Office of Strategic Communications, 703-905-3770 Immediate Release June 24, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) held a virtual ceremony today to honor the recipients of the 2021 FinCEN Director’s Law Enforcement Awards Program. The annual program accepts nominations from…
FDIC Presents “Fintech: A Bridge to Economic Inclusion”
June 24, 2021 / Source: FDIC
Press Release FDIC Presents “Fintech: A Bridge to Economic Inclusion” June 29th event to address how technology can create greater opportunities For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) will host a virtual conference on Tuesday, June 29, 2021, to explore how financial technology and innovation can create a more diverse, equitable and inclusive…
Bank Secrecy Act/Anti-Money Laundering Examination Manual Update June 23, 2021
June 23, 2021 / Source: FDIC
Financial Institution Letter Bank Secrecy Act/Anti-Money Laundering Examination Manual Update June 23, 2021 | FIL-45-2021 Summary: The Federal Financial Institutions Examination Council (FFIEC) is updating sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. Statement of Applicability: This Financial Institution Letter (FIL) applies to FDIC-supervised institutions. Highlights: The FFIEC BSA/AML Examination Manual…
Federal Reserve announces it will continue its Fed Listens initiative in 2021 to learn from a broad range of individuals, households, and communities about the economic recovery from the COVID-19 pand
June 23, 2021 / Source: FRB
Press Release June 23, 2021 Federal Reserve announces it will continue its Fed Listens initiative in 2021 to learn from a broad range of individuals, households, and communities about the economic recovery from the COVID-19 pandemic For release at 9:45 a.m. EDT Share The Federal Reserve on Wednesday announced that it would continue its Fed Listens initiative…
Jefferson County Engineer Sentenced for $13 Million COVID-Relief Fraud
June 22, 2021 / Source: FDIC OIG
PRESS RELEASE FOR IMMEDIATE RELEASE Thursday, June 17, 2021 Jefferson County Engineer Sentenced for $13 Million COVID-Relief Fraud BEAUMONT, Texas – A Beaumont engineer has been sentenced for his participation in a scheme to file two fraudulent loan applications seeking more than $13 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small…
Federal Reserve Board extends comment period on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions until August 11, 2021
June 22, 2021 / Source: FRB
Press Release June 22, 2021 Federal Reserve Board extends comment period on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions until August 11, 2021 The Federal Reserve Board announced on Tuesday that it will extend until August 11, 2021, the comment period for its proposed changes to Regulation II (Debit…
Statement by CFPB Acting Director Dave Uejio on Impact of the Juneteenth National Independence Day Federal Holiday on Residential Mortgage Closings
June 21, 2021 / Source: CFPB
Statement by CFPB Acting Director Dave Uejio on Impact of the Juneteenth National Independence Day Federal Holiday on Residential Mortgage Closings WASHINGTON, D.C. — Today, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio issued the following statement: President Biden’s signing of the Juneteenth National Independence Day Act into law yesterday afternoon is a cause for…
Federal and State Regulators Release Updates to the BSA/AML Examination Manual June 21, 2021
June 21, 2021 / Source: FFIEC
Press Release For Immediate Release June 21, 2021 Federal and State Regulators Release Updates to the BSA/AML Examination Manual WASHINGTON – The Federal Financial Institutions Examination Council (FFIEC) today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual). Today’s updates affect the following Manual sections: · International Transportation of…
Federal Reserve Board’s offices in Washington, D.C., will be closed Friday, June 18, in observance of Juneteenth National Independence Day
June 18, 2021 / Source: FRB
Press Release June 17, 2021 Federal Reserve Board's offices in Washington, D.C., will be closed Friday, June 18, in observance of Juneteenth National Independence Day The Federal Reserve Board's offices in Washington, D.C., will be closed on Friday, June 18, 2021, in observance of Juneteenth National Independence Day. All previously scheduled announcements will be released…
Chair Powell will host town hall with educators August 2, 2021 at 4 p.m. EDT
June 18, 2021 / Source: FRB
Press Release June 17, 2021 Chair Powell will host town hall with educators August 2, 2021 at 4 p.m. EDT Federal Reserve Board Chair Jerome H. Powell will host a town hall with educators on August 2, 2021 at 4 p.m. EDT. During the event, Chair Powell will respond to questions asked by participants who…
Observation of New Federal Holiday, Juneteenth National Independence Day
June 18, 2021 / Source: FDIC
Financial Institution Letter Observation of New Federal Holiday, Juneteenth National Independence Day June 17, 2021 | FIL-44-2021 Summary: The President of the United States today signed legislation designating Juneteenth a federal holiday. As the official holiday falls on a Saturday this year, the federal government will observe the holiday on Friday, June 18. When determining their operating…
Office of the Comptroller of the Currency to Close June 18 in Recognition of Juneteenth
June 18, 2021 / Source: OCC
News Release 2021-68 | June 17, 2021 Office of the Comptroller of the Currency to Close June 18 in Recognition of Juneteenth WASHINGTON—In recognition of the Juneteenth federal holiday signed into law by President Biden today, the Office of the Comptroller of the Currency will be closed Friday, June 18, 2021. Media Contact Bryan Hubbard (202) 649-6870 Topic(s):…
OCC Enforcement Actions and Terminations June 17, 2021
June 17, 2021 / Source: OCC
News Release 2021-67 | June 17, 2021 OCC Enforcement Actions and Terminations WASHINGTON—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. All Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders…
FFIEC Announces Availability of 2020 Data on Mortgage Lending
June 17, 2021 / Source: FFIEC
Press Release For Immediate Release June 17, 2021 FFIEC Announces Availability of 2020 Data on Mortgage Lending The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations,…