Capturing the important news of the day in an easy to access way. We post news we feel is relevant to our members and community banks nationwide.
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].
Investments: Venture Capital Funds
November 24, 2021 / Source: OCC
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 The Office of the Comptroller of the Currency is issuing this bulletin to remind banks1 that they are prohibited from making most equity investments in venture capital funds….
Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps
November 23, 2021 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) are jointly issuing this statement to summarize the work undertaken during the interagency policy sprints focused on crypto-assets, and to provide a roadmap of future…
Crypto-Assets: Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps
November 23, 2021 / Source: OCC
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 The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies)…
Statement by FDIC Chairman Jelena McWilliams on the Final Rule on Computer-Security Incident Notification at the FDIC Board Meeting
November 22, 2021 / Source: FDIC
Technological advancement in banking has lowered the cost of financial services and products, expanded the pool of creditworthy consumers, and increased access to financial services. As the nation’s deposit insurer and primary supervisor of community banks, the FDIC is also cognizant of the critical role of innovation in allowing community banks to remain competitive in…
Ethics Guidance to Protect the Public Trust and Detect Revolving Door Misconduct
November 22, 2021 / Source: CFPB
This year, the Consumer Financial Protection Bureau turned ten years old. The agency has been lucky to attract so many skilled public servants committed to the mission of promoting fair, transparent, and competitive markets. At the same time, the CFPB knows it must take steps to protect the public interest from potential risks and misconduct…
FinCEN Notice: FinCEN Calls Attention to Environmental Crimes and Related Financial Activity
November 18, 2021 / Source: FinCEN
FinCEN Environmental Crimes Notice 508 FINAL.pdf Immediate Release November 18, 2021
Agencies approve final rule requiring computer-security incident notification Federal Reserve Bank
November 18, 2021 / Source: FRB
Federal bank regulatory agencies today announced the approval of a final rule to improve the sharing of information about cyber incidents that may affect the U.S. banking system. The final rule requires a banking organization to notify its primary federal regulator of any significant computer-security incident as soon as possible and no later than 36…
Agencies Approve Final Rule Requiring Computer-Security Incident Notification
November 18, 2021 / Source: OCC
Federal bank regulatory agencies today announced the approval of a final rule to improve the sharing of information about cyber incidents that may affect the U.S. banking system. The final rule requires a banking organization to notify its primary federal regulator of any significant computer-security incident as soon as possible and no later than 36…
Agencies Approve Final Rule Requiring Computer-Security Incident Notification
November 18, 2021 / Source: FDIC
Federal bank regulatory agencies today announced the approval of a final rule to improve the sharing of information about cyber incidents that may affect the U.S. banking system. The final rule requires a banking organization to notify its primary federal regulator of any significant computer-security incident as soon as possible and no later than 36…
Remarks by Under Secretary for Domestic Finance Nellie Liang at the 2021 Treasury Market Conference
November 17, 2021 / Source: Treasury
As prepared for delivery: Good morning. It’s a pleasure and honor to be here today. Having participated in a panel at last year’s conference, I appreciate the opportunity to speak again at this conference in a completely different role, and to share some of Treasury’s current priorities related to debt management and potential Treasury market…
Reflections on Stablecoins and Payments Innovations
November 17, 2021 / Source: FRB
Governor Christopher J. Waller At “Planning for Surprises, Learning from Crises” 2021 Financial Stability Conference, cohosted by the Federal Reserve Bank of Cleveland and the Office of Financial Research, Cleveland, Ohio (via webcast) The U.S. payment system is experiencing a technology-driven revolution. Shifting consumer preferences and the introduction of new products and services from a…
CFPB Seeks Input on Detecting Discrimination in Mortgage Lending
November 17, 2021 / Source: CF
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB plans to review recent changes to the rule and evaluate their effectiveness. This evaluation will strengthen the CFPB’s ability to maintain a fair, competitive, and non-discriminatory…
FinCEN Holds FinCEN Exchange on Environmental Crimes and Related Financial Activity
November 16, 2021 / Source: FinCEN
Contact Office of Strategic Communications, [email protected] Immediate Release November 16, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange focused on identifying and combatting illicit financial flows associated with environmental crimes and related money laundering. Representatives from financial institutions, law enforcement, and Federal government agencies attended the session. Topics discussed included…
Treasury International Capital Data for September
November 16, 2021 / Source: Treasury
Washington – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2021. The next release, which will report on data for October 2021, is scheduled for December 15, 2021. The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a…
Acting Comptroller Discusses Modernizing the Financial Regulatory Perimeter
November 16, 2021 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed modernizing the financial regulatory perimeter at the Federal Reserve Bank of Philadelphia’s Fifth Annual Fintech Conference. Related Links Remarks (PDF) Acting Comptroller of the Currency Michael J. Hsu
Remarks by FDIC Chairman Jelena McWilliams at the 2021 Bank On National Conference
November 15, 2021 / Source: FDIC
Thank you for welcoming me here today. The FDIC is the nation’s deposit insurer and primary supervisor of community banks. We are cognizant, therefore, of the important role the FDIC plays in helping banks meet the needs of their customers and communities. We have seen meaningful improvements in recent years in reaching the “last mile”…
Orders Imposing Additional Reporting and Recordkeeping Requirements
November 15, 2021 / Source: FinCEN
Release Date November 15, 2021 Orders Imposing Additional Reporting and Recordkeeping Requirements Action Type Final Rule
U.S. Department of the Treasury Announces Partnership with Israel to Combat Ransomware
November 15, 2021 / Source: Treasury
JERUSALEM – Building on the long-standing relationship between the Israeli Ministry of Finance and the U.S. Department of the Treasury, Deputy Secretary of the Treasury Wally Adeyemo met with Finance Minister Avigdor Lieberman and Director General of the National Cyber Directorate Yigal Unna in Israel today to establish a bilateral partnership to protect critical financial…
Treasury Sanctions Four Entities and Two Individuals in Connection with the Crisis in Ethiopia
November 12, 2021 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four entities and two individuals pursuant to Executive Order (E.O.) 14046 in response to the growing humanitarian and human rights crisis and expanding military conflict in Ethiopia. Today’s action targets Eritrean actors that have contributed to the crisis and…
CFPB Sues Pawn Lenders for Cheating Military Families
November 12, 2021 / Source: CFPB
FirstCash, Inc. and Cash America West, Inc. allegedly made pawnshop loans to military families in violation of the Military Lending Act and 2013 CFPB Order NOV 12, 2021 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in a Texas federal district court against FirstCash, Inc. and Cash America West, Inc. The…
Treasury Issues State Small Business Credit Initiative Program Implementation Guidance
November 10, 2021 / Source: Treasury
The State Small Business Credit Initiative provides $10 billion to expand access to capital for small businesses emerging from the pandemic, build opportunity, and create high-quality jobs across America. WASHINGTON — Today, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI) Program. The American Rescue…
Mortgage Servicing: Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the Continuing COVID-19 Pandemic and CARES Act
November 10, 2021 / Source: OCC
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 The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance…
CFPB Takes Action to Prevent Avoidable Foreclosures
November 10, 2021 / Source: CFPB
Agencies Will Examine for Compliance with COVID-19 Protections WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners. Those protections, put in place in the wake of the Great Recession to prevent another foreclosure crisis, give families the chance…
Inter-Agency Working Group on Treasury Market Surveillance Releases Staff Progress Report that Reviews Potential Policies for Bolstering the Resilience of Treasury Markets
November 9, 2021 / Source: Treasury
WASHINGTON– The Inter-Agency Working Group on Treasury Market Surveillance (IAWG)—which is comprised of staff from the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission—today issued a staff progress report that…
Acting Comptroller Discusses Climate Change Risk
November 9, 2021 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed climate change risk at OCC Headquarters. His remarks highlighted five questions that large bank boards of directors should ask to promote and accelerate improvements in climate risk management practices at their banks. Related Links Remarks (PDF) Acting Comptroller of the Currency Michael J. Hsu