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.
Whitelist [email protected] to ensure that you receive your update email.
If you’re still having difficulties receiving this Daily Email Campaign, please contact us at once through [email protected].
Community Reinvestment Act: Notice of Proposed Rulemaking
January 10, 2020 / Source: OCC
Community Reinvestment Act: Notice of Proposed Rulemaking To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have issued a joint notice of proposed…
Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019
January 10, 2020 / Source: FRB
Press Release January 10, 2020 Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019 For release at 10:00 a.m. EST Share The Federal Reserve Board on Friday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $54.9 billion to the U.S. Treasury. The…
Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies
January 9, 2020 / Source: CFPB
Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies JAN 09, 2020 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and…
Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte
January 9, 2020 / Source: FRB
Press Release January 09, 2020 Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: United Bank of El Paso del Norte, El Paso, Texas Cease and Desist Order…
A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B
January 8, 2020 / Source: NACHA
A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B Michael W. Kahn Nacha Editor’s Note: This is the first in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look…
Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020
January 8, 2020 / Source: OCC
Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020 To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary On December 30, 2019, the Office of the Comptroller of the Currency (OCC) published in the Federal Register the…
HUD ISSUES IMPROVED FAIR HOUSING RULE
January 8, 2020 / Source: HUD
HUD ISSUES IMPROVED FAIR HOUSING RULE WASHINGTON – The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD's proposed rule. “HUD's commitment to Fair Housing remains as steadfast as ever…
Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Stephenson National Bank & Trust, Marinette, Wis.
January 8, 2020 / Source: OCC
Counterfeit Cashier's Checks: Counterfeit Cashier's Checks of Stephenson National Bank & Trust, Marinette, Wis. Chief Executive Officers of All National Banks and Federal Savings Associations; All State Banking Authorities; Chair, Board of Governors of the Federal Reserve System; Chair, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels;…
Nacha Announces New Officers and Directors for 2020
January 8, 2020 / Source: NACHA
Nacha Announces New Officers and Directors for 2020 Nacha today announced its new Board Chairperson and Secretary/Treasurer as well as six new directors. The Nacha Board oversees the governance and administration of Nacha as the ACH Network administrator and industry trade association. “We are pleased to welcome our new officers and directors,” said Nacha President…
America Saves Week is Coming; Here’s Why You Need to Be Involved
January 6, 2020 / Source: NACHA
America Saves Week is Coming; Here’s Why You Need to Be Involved POSTED ON January 06, 2020 AUTHOR Michael W. Kahn You don’t have to look far to find proof that many Americans aren’t saving enough. And we’re not even talking about retirement. What if the car’s transmission dies? What if the refrigerator is toast? …
US Conflict With Iran Sparks Cybersecurity Concerns
January 6, 2020 / Source: Bank Info Security
US Conflict With Iran Sparks Cybersecurity Concerns Homeland Security Reminds CISOs to Protect Critical SystemsScott Ferguson (@Ferguson_Writes) • January 3, 2020 (This story has been updated. See additional updates on the threat posed by pro-Iranian hackers and an incident involving defacing of a U.S. government website.) After an Iranian general was killed in a U.S. drone strike in Baghdad late…
OCC Releases CRA Evaluations for 24 National Banks and Federal Savings Associations
January 3, 2020 / Source: OCC
News Release 2020-4 | January 3, 2020 OCC Releases CRA Evaluations for 24 National Banks and Federal Savings Associations WASHINGTON—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 December 1, 2019 through December 31, 2019. The list contains only national…
Reopening Comment Period for Proposed Rule to Amend Swap Margin Requirements
January 3, 2020 / Source: FDIC
News Release 2020-3 | January 03, 2020 Reopening Comment Period for Proposed Rule to Amend Swap Margin Requirements Printable Format: FIL-88-2019 – PDF (PDF Help) Summary: The FDIC, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve, Farm Credit Administration, and Federal Housing Finance Agency (collectively, the agencies) are reopening the…
OCC Releases 2020 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations
January 2, 2020 / Source: OCC
News Release 2020-1 | January 2, 2020 OCC Releases 2020 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced its 2020 schedule of workshops for board directors and bank management of national community banks and federal savings associations. The OCC…
Agencies release 2020 annual CRA asset-size threshold adjustments for small and intermediate small institutions
January 2, 2020 / Source: FRB
Joint Press Release December 31, 2019 Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions Federal Deposit Insurance Corporation Federal Reserve Board of Governors Office of the Comptroller of the Currency For release at 1:30 p.m. EST Share WASHINGTON—The federal bank regulatory agencies today announced the annual adjustment to the asset-size…
Rescission of FDIC Statements of Policy
December 31, 2019 / Source: FDIC
Financial Institution Letters FIL-86-2019 December 31, 2019 Rescission of FDIC Statements of Policy Printable Format: FIL-86-2019 – PDF (PDF Help) Summary: As part of a continuing effort to reduce regulatory burden, the FDIC is rescinding four FDIC Statements of Policy that are outdated. Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution…
2019 College credit card agreements
December 31, 2019 / Source: CFPB
2019 College credit card agreements DEC 30, 2019 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…
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
OCC Bulletin 2019-65| December 27, 2019 Treatment of Extensions of Credit to Certain Investment Funds and Their Portfolio Investments Under 12 CFR 215 and 12 CFR 363: Interagency Statement SHARE THIS PAGE: To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested…
CFPB Issues Financial Literacy Annual Report
December 27, 2019 / Source: CFPB
CFPB Issues Financial Literacy Annual Report DEC 23, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued its Financial Literacy Annual Report for fiscal year 2019. The Bureau delivered its digital and print resources to more than 12 million consumers in fiscal year 2019. Promoting savings has also been a key part of…
FDIC Makes Public November 2019 Enforcement Actions
December 27, 2019 / Source: FDIC
Press Releases FDIC Makes Public November Enforcement Actions; No Administrative Hearings Scheduled for January 2020 FOR IMMEDIATE RELEASE December 27, 2019 Media Contact: David Barr (202) 898-6992 [email protected] 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…
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
Press Release December 23, 2019 Federal Reserve approves modifications to National Settlement Service and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse service For release at 2:00 p.m. EST Share The Federal Reserve Board on Monday approved modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire® Funds Service to support…
FDIC’s Supervisory Insights Fall 2019 Edition Focuses on Commercial Real Estate Lending and the Leveraged Lending Market
December 23, 2019 / Source: FDIC
Press Releases FDIC's Supervisory Insights Fall 2019 Edition Focuses on Commercial Real Estate Lending and the Leveraged Lending Market FOR IMMEDIATE RELEASE December 23, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the Fall 2019 issue of Supervisory Insights, which contains two articles of interest to bank management. The first…
Agencies Extend Comment Period for Proposed Rule to Amend Swap Margin Rules
December 23, 2019 / Source: OCC
News Release 2019-152 | December 20, 2019 Agencies Extend Comment Period for Proposed Rule to Amend Swap Margin Rules SHARE THIS PAGE: Joint Release Board of Governors of the Federal Reserve System Farm Credit Administration Federal Deposit Insurance Corporation Federal Housing Finance Agency Office of the Comptroller of the Currency Five federal agencies today announced they will reopen…
Agencies extend deadline on request for information on CAMELS rating system
December 20, 2019 / Source: FRB
Joint Press Release December 20, 2019 Agencies extend deadline on request for information on CAMELS rating system Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 12:00 p.m. EST Share The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday announced that they will extend until February…
Federal Reserve report assesses information presented to prospective borrowers on small business online lender websites
December 20, 2019 / Source: FRB
Press Release December 19, 2019 Federal Reserve report assesses information presented to prospective borrowers on small business online lender websites For release at 4:00 p.m. EST Share 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…