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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OCC to Host Innovation Office Hours in Washington, D.C.

August 12, 2019 / Source: OCC

NR 2019-89 FOR IMMEDIATE RELEASE August 12, 2019 Contact: Paul Ross (202) 649-6870 OCC to Host Innovation Office Hours in Washington, D.C. WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours, October 8-10, in Washington, D.C., to promote responsible innovation in the federal banking system….

CONSUMER FINANCIAL PROTECTION BUREAU SETTLES LAWSUIT AGAINST ITT EDUCATIONAL SERVICES 

August 12, 2019 / Source: CFPB

FOR IMMEDIATE RELEASE: August 12, 2019 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU SETTLES LAWSUIT AGAINST ITT EDUCATIONAL SERVICES  Washington, D.C. — The Consumer Financial Protection Bureau (Bureau) today announced a proposed settlement with ITT Educational Services, Inc. to resolve the Bureau’s lawsuit, which alleges that ITT engaged in unfair and abusive…

Prohibition Against Interstate Deposit: Annual Host State Loan-to-Deposit Ratios

August 9, 2019 / Source: OCC

OCC BULLETIN 2019-41 Subject: Prohibition Against Interstate Deposit Date: August 9, 2019 To: Chief Executive Officers and Compliance Officers of National Banks and Federal Branches, Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Annual Host State Loan-to-Deposit Ratios Summary The Office of the Comptroller of the Currency (OCC), the Board of Governors…

OCC Releases CRA Evaluations for 42 National Banks and Federal Savings Associations

August 9, 2019 / Source: OCC

NR 2019-87 FOR IMMEDIATE RELEASE August 8, 2019 Contact: (202) 649-6870 OCC Releases CRA Evaluations for 42 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, 2019…

OCC Hosts Nashville Workshop for Board Directors and Bank Management

August 8, 2019 / Source: OCC

NR 2019-86 FOR IMMEDIATE RELEASE August 8, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Hosts Nashville Workshop for Board Directors and Bank Management WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host a workshop in Nashville, Tenn., at the Spring Hill Suites Nashville Downtown, September 24-25, for directors, senior management team…

An update on credit access and the Bureau’s first No-Action Letter

August 8, 2019 / Source: CFPB

An update on credit access and the Bureau’s first No-Action Letter By Patrice Ficklin and Paul Watkins – AUG 06, 2019 For some consumers, the use of unconventional sources of information, or “alternative data,” to evaluate creditworthiness may be a way to increase access to credit or decrease the cost of credit. Alternative data includes information not typically found in…

OCC Hosts Compliance and Operational Risk Workshops in Virginia

August 7, 2019 / Source: OCC

NR 2019-85 FOR IMMEDIATE RELEASE August 7, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Hosts Compliance and Operational Risk Workshops in Virginia WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops in Williamsburg, Va., at the DoubleTree Hotel Williamsburg, September 24 and 25, for directors of national community banks…

More US Lawmakers Questioning Capital One, Amazon

August 7, 2019 / Source: Bank Info Security

More US Lawmakers Questioning Capital One, Amazon Massive Data Breach Draws Bipartisan AttentionAkshaya Asokan (asokan_akshaya) • August 7, 2019 A little more than a week after the data breach at Capital One was revealed, more U.S. lawmakers are raising questions about what happened at the bank, including what role, if any, Amazon Web Services and its cloud…

Nacha Statement Regarding Federal Reserve Board’s Plan to Develop a Real-Time Payment and Settlement Service

August 6, 2019 / Source: NACHA

Nacha Statement Regarding Federal Reserve Board’s Plan to Develop a Real-Time Payment and Settlement Service   POSTED ON August 05, 2019 As the administrator of the ACH Network, and as an industry association dedicated to bringing diverse stakeholders together, Nacha is committed to working cooperatively with the Federal Reserve and The Clearing House as payment…

Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments

August 6, 2019 / Source: FRB

Press Release August 05, 2019 Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments For release at 1:30 p.m. EDT Share The Federal Reserve Board on Monday announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow℠…

B2B NACHA Webinar Available This Morning!

August 6, 2019 / Source:

Back2Basics Webinar for August available this morning after 8 AM. Find it by logging into C/A's website as a member. Then go to —> News & Events —> Past Events —> Past Webinars Because of travel schedules, this webinar will be pre-recorded and made available after 8:00 am Central on August 6, 2019. NACHA Rules…

August 2019 FDIC Issues List of Banks Examined for CRA Compliance

August 5, 2019 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE August 5, 2019 Media Contact: LaJuan Williams-Young (202) 898-3876 [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 Cashier’s Checks of National Bank of Blacksburg, Blacksburg, Va.

August 5, 2019 / Source: OCC

Alert 2019-7 Subject: Counterfeit Cashier's Checks Date: August 5, 2019 Description: National Bank of Blacksburg Counterfeit Cashier’s Checks of National Bank of Blacksburg, Blacksburg, Va. 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 of…

CFPB Extends Comment Period for Debt Collection Proposal

August 2, 2019 / Source: CFPB

CFPB Extends Comment Period for Debt Collection Proposal AUG 02, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) announced today that it is extending the comment period on its Notice of Proposed Rulemaking (NPRM) implementing the Fair Debt Collection Practices Act (FDCPA). To facilitate the ability of commenters to consider the issues raised in the…

HUD ANNOUNCES AGENCY EFFORTS TO REDUCE RISK FROM CASH-OUT REFINANCE LENDING

August 2, 2019 / Source: FHA

HUD No. 19-114 HUD Public Affairs (202) 708-0685 FOR RELEASE Thursday August 1, 2019 HUD ANNOUNCES AGENCY EFFORTS TO REDUCE RISK FROM CASH-OUT REFINANCE LENDING FHA and Ginnie Mae seek to preserve homeowner equity and, boost investor confidence WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced joint policy actions designed…

OCC Guidelines for Requesting Approval of a Strategic Plan

August 1, 2019 / Source: OCC

OCC BULLETIN 2019-39 Subject: Community Reinvestment Act Date: July 31, 2019 To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, and Federal Branches of Foreign Banking Organizations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Guidelines for Requesting Approval of a Strategic Plan Summary The Office of the…

OCC Guidelines for Requesting Designation as a Wholesale, Limited Purpose, or Special Purpose Bank

August 1, 2019 / Source: OCC

OCC BULLETIN 2019-40 Subject: Community Reinvestment Act Date: July 31, 2019 To: Chief Executive Officers and Compliance Officers of All National Banks, Federal Savings Associations, and Federal Branches of Foreign Banking Organizations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Guidelines for Requesting Designation as a Wholesale, Limited Purpose, or Special Purpose…

OCC Consolidates Supervision Support Functions, Announces New Units

July 31, 2019 / Source: OCC

NR 2019-84 FOR IMMEDIATE RELEASE July 31, 2019 Contact: Bryan Hubbard (202) 649-6870 OCC Consolidates Supervision Support Functions, Announces New Units WASHINGTON — The Office of the Comptroller of the Currency today announced realignment of approximately 150 staff members to create two new units, consolidating bank supervision support, risk analysis, and oversight of national trust…

FDIC Annual Publication Examines Potential Credit and Market Risks

July 31, 2019 / Source: FDIC

Press Releases FDIC Annual Publication Examines Potential Credit and Market Risks FOR IMMEDIATE RELEASE July 30, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation (FDIC) today published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures in the banking system. The publication will be of particular interest to…

Minnesota Couple Pleads Guilty for Long-Running Fraud Scheme

July 30, 2019 / Source: FDICIG

FOR IMMEDIATE RELEASE Thursday, July 25, 2019 Minnesota Couple Pleads Guilty for Long-Running Fraud Scheme   Real Estate Company Pleads Guilty to Fraud Conspiracy Detloff Marketing and Asset Management Inc. (Detloff Marketing), a real estate company based in Hopkins, Minnesota; its owner, Jeffery J. Detloff; and its accountant, Lori K. Detloff, pleaded guilty today in…

Delhi farmer pleads guilty to lying to various business and government entities to steal nearly $17 million

July 30, 2019 / Source: FDICIG

FOR IMMEDIATE RELEASE Tuesday, July 16, 2019 Delhi farmer pleads guilty to lying to various business and government entities to steal nearly $17 million MONROE, La. – A Delhi, Louisiana, farmer pleaded guilty Monday to lying to more than seven financial institutions, insurance providers and government entities in an effort to obtain nearly $17 million illegally,…

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Tornadoes, and Flooding

July 29, 2019 / Source: FDIC

Financial Institution Letters FIL-44-2019 July 26, 2019 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Tornadoes, and Flooding Printable Format: FIL-44-2019 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in…

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding

July 29, 2019 / Source: FDIC

Financial Institution Letters FIL-45-2019 July 26, 2019 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding Printable Format: FIL-45-2019 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas…

Agencies complete resolution plan evaluations and extend deadline for certain firms

July 29, 2019 / Source: FRB

Joint Press Release July 26, 2019 Agencies complete resolution plan evaluations and extend deadline for certain firms Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For release at 2:00 p.m. EDT Share The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced several resolution plan actions, including completing their…

FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2019

July 26, 2019 / Source: FDIC

Press Releases FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2019 FOR IMMEDIATE RELEASE July 26, 2019 Media contact: LaJuan Williams-Young (202) 898-6876 [email protected] 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…