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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Federal Reserve Board issues enforcement action with former employee of East West Bank and announces termination of enforcement actions with Markesan State Bank, Banco Espírito Santo, and Espírito S

November 19, 2019 / Source: FRB

Press Release November 19, 2019 Federal Reserve Board issues enforcement action with former employee of East West Bank and announces termination of enforcement actions with Markesan State Bank, Banco Espírito Santo, and Espírito Santo e Comercial de Lisboa, Inc. For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the execution…

Comptroller Acts to Promote the Safe, Sound, and Fair Operation of the Federal Banking System

November 19, 2019 / Source: OCC

News Release 2019-133 | November 19, 2019 Comptroller Acts to Promote the Safe, Sound, and Fair Operation of the Federal Banking System SHARE THIS PAGE: ·           WASHINGTON—The Comptroller of the Currency today approved the following interagency final rules to promote the safe, sound, and fair operation of the federal banking system. The final rules will be published…

OCC Proposes Rule to Clarify “Valid When Made” Doctrine

November 18, 2019 / Source: OCC

News Release 2019-132 | November 18, 2019 OCC Proposes Rule to Clarify “Valid When Made” Doctrine SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) is soliciting comments on a proposed rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible prior to…

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators

November 18, 2019 / Source: CFPB

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators NOV 15, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019. The Secure…

Financial Regulators Revise Business Continuity Management Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations.

November 15, 2019 / Source: FFIEC

Press Release For Immediate Release November 14, 2019   Financial Regulators Revise Business Continuity Management Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations.   The members of the Federal Financial Institutions Examination Council (FFIEC) today emphasized that examiners understand how management of banks and other regulated entities, including depository…

FDIC Releases Three Reports Analyzing Growth of Nonbank Lending

November 15, 2019 / Source: FDIC

Press Releases FDIC Releases Three Reports Analyzing Growth of Nonbank Lending Decades-long shifts reported in corporate and mortgage loans between banks and nonbanks FOR IMMEDIATE RELEASE November 14, 2019 Media contact: Brian Sullivan (202) 898-6534 [email protected] WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a multi-part analysis of changes in the U.S. banking…

FHA RELEASES 2019 ANNUAL REPORT TO CONGRESS

November 14, 2019 / Source: HUD

HUD No. 19-164 HUD Public Affairs (202) 708-0685 FOR RELEASE Thursday November 14, 2019 FHA RELEASES 2019 ANNUAL REPORT TO CONGRESS MMI Fund Capital Ratio continues to exceed the statutory minimum – strongest since 2007   WASHINGTON – The Federal Housing Administration (FHA) today released its 2019 Annual Report to Congress on the economic condition of the…

CFPB Releases Financial Well-Being Report with State-by-State Comparisons

November 14, 2019 / Source: CFPB

CFPB Releases Financial Well-Being Report with State-by-State Comparisons NOV 13, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued a report today with state-by-state comparisons of financial well-being scores. The scores are based on Bureau analysis of the Financial Industry Regulatory Authority Foundation’s 2018 National Financial Capability Study. The report shows that the average…

Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations

November 13, 2019 / Source: OCC

OCC Bulletin 2019-55| November 13, 2019 Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations SHARE THIS PAGE: ·           To Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC), the Board of…

Simplifications to the Capital Rule; Effective Date: Final Rule

November 13, 2019 / Source: OCC

OCC Bulletin 2019-54| November 13, 2019 Simplifications to the Capital Rule; Effective Date: Final Rule SHARE THIS PAGE:   To Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties Summary The Office of the Comptroller of the Currency, the Board of Governors of the Federal…

Federal Reserve Board invites public comment on proposal to extend by 18 months initial compliance dates for foreign banks subject to its single-counterparty credit limit rule

November 12, 2019 / Source: FRB

Press Release November 08, 2019 Federal Reserve Board invites public comment on proposal to extend by 18 months initial compliance dates for foreign banks subject to its single-counterparty credit limit rule For release at 3:00 p.m. EST Share The Federal Reserve Board on Friday invited public comment on a proposal to extend by 18 months…

Delhi Farmer Sentenced for Lying to Various Business and Government Entities to Steal Nearly $18 Million

November 12, 2019 / Source: FDICOIG

PRESS RELEASE FOR IMMEDIATE RELEASE Thursday, November 7, 2019 Delhi Farmer Sentenced for Lying to Various Business and Government Entities to Steal Nearly $18 Million MONROE, La. – A Delhi, Louisiana, farmer was sentenced today to 10 years in federal prison followed by three years of supervised release, for lying to more than seven financial institutions,…

FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas

November 8, 2019 / Source: FinCEN

FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas   Contact Steve Hudak, 703-905-3770 Immediate Release November 08, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases…

FIL: Banker Webinar: Community Bank Leverage Ratio Framework

November 8, 2019 / Source: FDIC

Financial Institution Letters FIL-70-2019 November 8, 2019 Banker Webinar: Community Bank Leverage Ratio Framework Printable Format: FIL-70-2019 – PDF (PDF Help) Summary: The FDIC, the Office of the Comptroller of the Currency (OCC), and the Board of Governors of the Federal Reserve System (FRB) will host an interagency webinar on November 21, 2019, from 2:00 p.m….

Kevin Greenfield Named Deputy Comptroller for Operational Risk

November 7, 2019 / Source: OCC

News Release 2019-131 | November 7, 2019 Kevin Greenfield Named Deputy Comptroller for Operational Risk SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Kevin Greenfield would become the agency’s Deputy Comptroller for Operational Risk. In this role, Mr. Greenfield will oversee development of policy and examination procedures addressing operational risk,…

FDIC Announces Settlement with HomeStreet Bank in Seattle for Violations of the Real Estate Settlement Procedures Act

November 7, 2019 / Source: FDIC

Press Releases FDIC Announces Settlement with HomeStreet Bank in Seattle for Violations of the Real Estate Settlement Procedures Act FOR IMMEDIATE RELEASE November 6, 2019 Media contact: Brian Sullivan (202) 898-6534 [email protected] The Federal Deposit Insurance Corporation (FDIC) today announced a settlement with HomeStreet Bank, Seattle, Washington, for violations of the Real Estate Settlement Procedures…

FIL: Proposed Regulatory Reporting Revisions

November 6, 2019 / Source: FDIC

Financial Institution Letters FIL-69-2019 November 6, 2019 Proposed Regulatory Reporting Revisions Printable Format: FIL-69-2019 – PDF (PDF Help) Summary: The banking agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), have issued the attached Federal Register notice requesting comment on proposed capital-related reporting changes and other reporting revisions. These proposed changes and revisions apply to the…

Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook

November 6, 2019 / Source: NACHA

Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook   POSTED ON November 05, 2019   The inaugural version of the online educational and decisioning platform is designed to help banks and credit unions develop a faster payments strategy MIAMI, Nov. 5, 2019 – Today, Nacha and its Payments…

November 5, 2019: FDIC Issues List of Banks Examined for CRA Compliance

November 5, 2019 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE November 5, 2019 Media Contact: LaJuan Williams-Young (202) 898-6876 [email protected] 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…

Counterfeit Official Checks: Counterfeit Official Checks and Fictitious Cashier’s Checks of First Federal Savings Bank, Ottawa, Ill.

November 5, 2019 / Source: OCC

Alert 2019-9| November 4, 2019 Counterfeit Official Checks: Counterfeit Official Checks and Fictitious Cashier’s Checks of First Federal Savings Bank, Ottawa, Ill. SHARE THIS PAGE: ·           To 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…

Industrial Bank Assumes All of the Deposits of City National Bank of New Jersey

November 4, 2019 / Source: FDIC

Press Releases Industrial Bank Assumes All of the Deposits of City National Bank of New Jersey FOR IMMEDIATE RELEASE November 1, 2019 FDIC Customer Service Call Center Toll Free – 1-877-367-2719 WASHINGTON — City National Bank of New Jersey (“City National”) in Newark was closed today by the Office of the Comptroller of the Currency, which…

News Release 2019-129: OCC Releases CRA Evaluations for 37 National Banks and Federal Savings Associations

November 4, 2019 / Source: OCC

News Release 2019-129 | November 1, 2019 OCC Releases CRA Evaluations for 37 National Banks and Federal Savings Associations SHARE THIS PAGE: ·           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 October 1, 2019 through October 31, 2019….

OCC Issues Final Rule to Change Applicability Thresholds for Regulatory Capital and Liquidity Requirements

November 1, 2019 / Source: OCC

News Release 2019-128 | November 1, 2019 OCC Issues Final Rule to Change Applicability Thresholds for Regulatory Capital and Liquidity Requirements SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a final rule to tailor capital and liquidity requirements for certain banking organizations with more than $100 billion in total consolidated…

Outcome Health Agrees to Pay $70 Million to Resolve Fraud Investigation

November 1, 2019 / Source: FDICOIG

FOR IMMEDIATE RELEASE Wednesday, October 30, 2019 Outcome Health Agrees to Pay $70 Million to Resolve Fraud Investigation ContextMedia Health LLC, which operates under the trade name Outcome Health (Outcome), a digital provider of medical information and advertising in doctors’ offices, has agreed to a resolution with the Department of Justice by which it will…

OCT 31, 2019: Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions

October 31, 2019 / Source: CFPB

Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions OCT 31, 2019   WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) and Federal Reserve Board today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer…