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].
Treasury and Commerce Reiterate Commitment to Supporting Internet Freedom in Cuba
August 11, 2021 / Source: Treasury
PRESS RELEASES Treasury and Commerce Reiterate Commitment to Supporting Internet Freedom in Cuba August 11, 2021 WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Department of Commerce’s Bureau of Industry and Security (BIS) issued a fact sheet underscoring the U.S. government’s commitment to supporting internet freedom in Cuba, following…
FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act
August 10, 2021 / Source: FinCEN
FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act Contact Office of Strategic Communications, 703-905-3770 Immediate Release August 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty in the amount of $100 million against BitMEX, one of the oldest and largest…
FinCEN Holds Second Virtual FinCEN Exchange on Ransomware
August 10, 2021 / Source: FinCEN
FinCEN Holds Second Virtual FinCEN Exchange on Ransomware Contact Office of Strategic Communications, 703-905-3770 Immediate Release August 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers, and federal government agencies to discuss ongoing concerns regarding ransomware, as well as efforts…
CFPB Report: Mortgage Servicers’ Pandemic Response Varies Significantly
August 10, 2021 / Source: CFPB
CFPB Report: Mortgage Servicers’ Pandemic Response Varies Significantly Supervisory data show some servicers struggled to assist borrowers AUG 10, 2021 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today published a report detailing 16 large mortgage servicers’ COVID-19 pandemic response. The report’s data metrics include call handling and loan delinquency rates, and they highlight the…
FDIC Requests Four Companies to Submit Pilot Proposals in Next Phase of Rapid Phased Prototyping Competition
August 9, 2021 / Source: FDIC
Press Release FDIC Requests Four Companies to Submit Pilot Proposals in Next Phase of Rapid Phased Prototyping Competition For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today requested that four companies submit proposals as part of the next phase of an ongoing Rapid Phased Prototyping Competition (RPP) in order to accelerate the adoption of modern technological…
Treasury Holds the Belarusian Regime to Account on Anniversary of Fraudulent Election
August 9, 2021 / Source: Treasury
Treasury Holds the Belarusian Regime to Account on Anniversary of Fraudulent Election Treasury uses new sanctions authority in support of the Belarusian people WASHINGTON — Today, on the one-year anniversary of Belarus’s fraudulent August 9, 2020 presidential election, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 23 individuals and 21 entities pursuant to…
Higher education emergency grants available for college students impacted by the COVID-19 pandemic
August 6, 2021 / Source: CFPB
Higher education emergency grants available for college students impacted by the COVID-19 pandemic By Scott Filter – AUG 06, 2021 The coronavirus pandemic has caused many financial disruptions for students and young consumers and those who are pursuing a higher education. If you’re a college student who may need additional help financially, you may qualify for…
Jury Convicts Five Former Officers and Employees of Banc-Serv Partners in $5 Million Scheme to Defraud the Small Business Administration
August 6, 2021 / Source: FDIC OIG
PRESS RELEASE FOR IMMEDIATE RELEASE Thursday, August 5, 2021 Jury Convicts Five Former Officers and Employees of Banc-Serv Partners in $5 Million Scheme to Defraud the Small Business Administration A federal jury convicted five former officers and employees of Banc-Serv Partners LLP (Banc-Serv) — a lending service provider — in a 13-year conspiracy to defraud…
CFPB Issues Interpretive Rule on Certain Mortgage and Disclosure Timing Requirements for the 2021 Juneteenth Federal Holiday
August 5, 2021 / Source: CFPB
CFPB Issues Interpretive Rule on Certain Mortgage and Disclosure Timing Requirements for the 2021 Juneteenth Federal Holiday Interpretive Rule will Help Mortgage Industry Determine How to Handle the June 19, 2021 Holiday WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released an interpretive rule to assist the mortgage industry in determining whether to treat…
What the new CDC eviction moratorium means for you
August 5, 2021 / Source: CFPB
What the new CDC eviction moratorium means for you AUG 05, 2021 The CDC issued a new eviction moratorium on August 3, 2021 to temporarily halt evictions in counties where COVID-19 is spreading rapidly. If you are struggling to pay rent, the new pause in evictions may help you stay in your home, but you may need…
Small Business Administration Lending:Â Risk Management Principles
August 5, 2021 / Source: OCC
OCC Bulletin 2021-34 Small Business Administration Lending: Risk Management Principles 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) is issuing this bulletin to inform banks1 and examiners about sound…
Community Reinvestment Act, Fair Housing Act, and Equal Credit Opportunity Act:Â OCC Contact Information for Certain Notices and Posters
August 5, 2021 / Source: OCC
OCC Bulletin 2021-35 Community Reinvestment Act, Fair Housing Act, and Equal Credit Opportunity Act: OCC Contact Information for Certain Notices and Posters 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 This bulletin informs national banks, federal savings…
Federal Reserve Board announces termination of enforcement action with JPMorgan Chase & Co.
August 5, 2021 / Source: FRB
Press Release Federal Reserve Board announces termination of enforcement action with JPMorgan Chase & Co. The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: JPMorgan Chase & Co., New York, New York Cease and Desist Order, dated May 20, 2015 (PDF) Terminated August 3, 2021 Additional enforcement actions can…
Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1
August 5, 2021 / Source: FRB
Press Release Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1 Following its stress test earlier this year, the Federal Reserve Board on Thursday announced the individual capital requirements for all large banks, effective on October 1. Those capital requirements ensure that the large banks tested will hold…
FDIC Issues List of Banks Examined for CRA Compliance Wednesday, August 4, 2021
August 5, 2021 / Source: FDIC
Press Release FDIC Issues List of Banks Examined for CRA Compliance For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2021. The CRA…
Security and Management of Mobile Devices
August 5, 2021 / Source: FDIC OIG
Security and Management of Mobile Devices Wednesday, August 4, 2021 The Office of Inspector General at the Federal Deposit Insurance Corporation (FDIC) has issued its report on the Security and Management of Mobile Devices. The objective was to determine whether the FDIC had established and implemented effective controls to secure and manage its mobile devices….
Federal Reserve Board issues enforcement actions with Commercial Bank and a former employee of Regions Bank
August 3, 2021 / Source: FRB
Press Release Federal Reserve Board issues enforcement actions with Commercial Bank and a former employee of Regions Bank The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: Consent prohibition against Kristyn Kelly Former employee of Regions Bank, Birmingham, AL Unauthorized transactions in a customer account Commercial Bank, Harrogate, Tennessee…
Federal Reserve Board extends comment period on proposed rule to govern funds transfers over the Federal Reserve Banks’ FedNow Service
August 3, 2021 / Source: FRB
Press Release Federal Reserve Board extends comment period on proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow Service The Federal Reserve Board announced on Tuesday that it will extend until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks' FedNow℠ Service. The…
OCC Releases CRA Evaluations for 14 National Banks and Federal Savings Associations
August 3, 2021 / Source: OCC
News Release 2021-80 OCC Releases CRA Evaluations for 14 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 July 1, 2021 through July 31, 2021. The list contains only national banks, federal…
Acting Comptroller of the Currency Testifies on Regulatory Priorities
August 3, 2021 / Source: OCC
News Release 2021-79 Acting Comptroller of the Currency Testifies on Regulatory Priorities WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today testified at a hearing before the U.S. Senate Committee on Banking, Housing and Urban Affairs. The Acting Comptroller’s testimony discussed the agency’s priorities, review of key regulatory standards, and efforts to promote fairness and inclusion…
Federal housing protections have ended – Learn how to avoid foreclosure and eviction
August 3, 2021 / Source: CFPB
Federal housing protections have ended – Learn how to avoid foreclosure and eviction Some important federal protections put in place to protect homeowners from foreclosure and renters from eviction during the COVID-19 pandemic ended on July 31. If you are having trouble making your rent or mortgage payments, it’s important to take action to prevent…
Federal Reserve Board announces that it is seeking individuals to serve on its Insurance Policy Advisory Committee
July 30, 2021 / Source: FRB
Press Release July 30, 2021 Federal Reserve Board announces that it is seeking individuals to serve on its Insurance Policy Advisory Committee The Federal Reserve Board on Friday announced that is seeking individuals with a diverse set of expert insurance perspectives in life, property and casualty, and reinsurance issues to serve on its Insurance Policy…
FDIC Makes Public June Enforcement Actions Friday, July 30, 2021
July 30, 2021 / Source: FDIC
Press Release FDIC Makes Public June Enforcement Actions No Administrative Hearings Scheduled for August 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 June. There are no administrative hearings scheduled for August 2021. The FDIC issued 14…
CFPB Confirms Effective Date for Debt Collection Final Rules
July 30, 2021 / Source: CFPB
CFPB Confirms Effective Date for Debt Collection Final Rules WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned, on November 30, 2021. The CFPB issued a proposal in April 2021 that, if finalized, would have extended the effective…
Annual Report of the Board of Governors of the Federal Reserve System
July 29, 2021 / Source: FRB
Annual Report Current Report 2020 PDF This report covers the calendar-year operations and activities carried out by the Board in its five key functional areas: (1) monetary policy, (2) financial stability, (3) supervision and regulation, (4) payment system and Reserve Bank oversight, and (5) consumer and community affairs. The appendix of this report contains additional…