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Final Rule to Amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination”
August 27, 2019 / Source: FDIC
Financial Institution Letters FIL-46-2019 August 26, 2019 Final Rule to Amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination” Printable Format: FIL-46-2019 – PDF (PDF Help) Summary: The FDIC Board has approved a final rule to amend 12 C.F.R. Part 370, “Recordkeeping for Timely Deposit Insurance Determination” (the “Rule”). The Rule would make certain…
Former Bank Executive Found Guilty in $15 Million Construction Loan Fraud Scheme
August 26, 2019 / Source: FDICOIG
FOR IMMEDIATE RELEASE Tuesday, August 20, 2019 Former Bank Executive Found Guilty in $15 Million Construction Loan Fraud Scheme A former Kansas bank executive was found guilty by a federal jury yesterday for his participation in a bank fraud scheme to obtain a $15 million construction loan for certain bank customers based upon false and fraudulent representations. The…
OCC Hosts Minority Depository Institutions Advisory Committee Meeting on Thursday, September 19, 2019
August 26, 2019 / Source: OCC
News Release 2019-98 | August 26, 2019 OCC Hosts Minority Depository Institutions Advisory Committee Meeting SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT)….
OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17
August 26, 2019 / Source: OCC
News Release 2019-97 | August 26, 2019 OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17 SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday September 17, 2019, beginning at 8:30 a.m. Eastern Daylight…
Federal Reserve announces results of offering of seven-day term deposits on August 22
August 23, 2019 / Source: FRB
Press Release August 22, 2019 Federal Reserve announces results of offering of seven-day term deposits on August 22 For release at 3:30 p.m. EDT Share On August 22, 2019, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal…
OCC Hosts Risk Governance and Credit Risk Workshops in Chicago
August 23, 2019 / Source: OCC
NR 2019-96 FOR IMMEDIATE RELEASE August 22, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Hosts Risk Governance and Credit Risk Workshops in Chicago WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops at the OCC Central District Office in Chicago, October 1 and 2, for directors of national community…
FinCEN Advisory Alerts Financial Sector to Fentanyl Trafficking Schemes
August 22, 2019 / Source: FinCEN
FinCEN Advisory Alerts Financial Sector to Fentanyl Trafficking Schemes Immediate Release August 21, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to alert financial institutions to financial schemes related to the trafficking of fentanyl and other synthetic opioids. Information in the advisory will assist them in detecting and reporting related criminal…
Comptroller of the Currency Visits New York Neighborhoods Supported by the Community Reinvestment Act, Discusses Opportunities to Do More
August 22, 2019 / Source: OCC
NR 2019-95 FOR IMMEDIATE RELEASE August 21, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Visits New York Neighborhoods Supported by the Community Reinvestment Act, Discusses Opportunities to Do More WASHINGTON — Comptroller of the Currency Joseph Otting today participated in a tour of New York neighborhoods to see firsthand the success of…
Minutes of the Federal Open Market Committee, July 30-31, 2019
August 22, 2019 / Source: FRB
Press Release August 21, 2019 Minutes of the Federal Open Market Committee, July 30-31, 2019 For release at 2:00 p.m. EDT Share The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 30-31, 2019. The minutes for each regularly scheduled meeting of…
Five Fraudsters Indicted For Million Dollar Scheme Targeting Thousands of U.S. Servicemembers and Veterans
August 21, 2019 / Source: DOJ
JUSTICE NEWS Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 21, 2019 Five Fraudsters Indicted For Million Dollar Scheme Targeting Thousands of U.S. Servicemembers and Veterans Foreign-Based Fraudsters Stole Millions of Dollars from Mostly Elderly and Disabled Veterans A 14-count indictment has been unsealed today in San Antonio, Texas,…
FDIC Issues Proposed Rule on Certain Assessment Credits
August 21, 2019 / Source: FDIC
Press Releases FDIC Issues Proposed Rule on Certain Assessment Credits FOR IMMEDIATE RELEASE August 20, 2019 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today approved a notice of proposed rulemaking that would amend the deposit insurance assessment regulations that govern the use of small bank assessment credits and…
August 20, 2019: Federal Reserve Board issues enforcement actions
August 21, 2019 / Source: FRB
Press Release August 20, 2019 Federal Reserve Board issues enforcement actions with First Ipswich Bank, Brookline Bank, and former employee of Farmers & Merchants Bank For release at 11:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: First Ipswich Bank, Ipswich, Massachusetts Flood insurance violation…
FDIC Approves Interagency Final Rule to Simplify and Tailor the “Volcker Rule”
August 20, 2019 / Source: FDIC
FDIC Approves Interagency Final Rule to Simplify and Tailor the “Volcker Rule” FOR IMMEDIATE RELEASE August 20, 2019 Media contact: David Barr (202) 898-6895 [email protected] The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved an interagency final rule to simplify and tailor requirements relating to Section 619 of the Dodd-Frank Wall…
FDIC Issues Proposed Rule on Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions
August 20, 2019 / Source: FDIC
Press Releases FDIC Issues Proposed Rule on Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions FOR IMMEDIATE RELEASE August 20, 2019 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued a notice of proposed rulemaking (NPR) related to interest rate restrictions that apply to less than…
Comptroller of the Currency Approves Volcker Rule Reforms
August 20, 2019 / Source: OCC
NR 2019-94 FOR IMMEDIATE RELEASE August 20, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Approves Volcker Rule Reforms WASHINGTON, DC — Comptroller of the Currency Joseph Otting today signed a final rule amending the “Volcker Rule” to tailor and simplify the rule while maintaining protections core to the safety and soundness of…
Comptroller of the Currency Visits Areas of Washington, D.C., to Discuss Community Reinvestment Success and Opportunities
August 19, 2019 / Source: OCC
NR 2019-93 FOR IMMEDIATE RELEASE August 19, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Visits Areas of Washington, D.C., to Discuss Community Reinvestment Success and Opportunities WASHINGTON — Comptroller of the Currency Joseph Otting, led a tour of Washington, D.C., areas that have benefitted from Community Reinvestment Act (CRA) activity and discussed…
HUD PROPOSES REVISED ‘DISPARATE IMPACT’ RULE
August 19, 2019 / Source: HUD
HUD No. 19-122 HUD Public Affairs (202) 708-0685 FOR RELEASE Friday August 16, 2019 HUD PROPOSES REVISED 'DISPARATE IMPACT' RULE New proposed disparate impact rule more appropriately reflects 2015 Supreme Court ruling WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today published a proposed rule to amend the HUD interpretation of…
CFPB Appoints Private Education Loan Ombudsman
August 16, 2019 / Source: CFPB
CFPB Appoints Private Education Loan Ombudsman AUG 16, 2019 Washington, D.C. – The Consumer Financial Protection Bureau (Bureau) announced the appointment of Robert G. Cameron to serve as the Bureau’s private education loan ombudsman. Mr. Cameron is a Colonel and Staff Judge Advocate for the Pennsylvania Army National Guard. He has served in the United States Army…
Federal Reserve to offer seven-day term deposits on August 22
August 16, 2019 / Source: FRB
Press Release August 15, 2019 Federal Reserve to offer seven-day term deposits on August 22 For release at 10:00 a.m. EDT Share The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in August. These operations are aimed at ensuring the operational readiness of the…
CFPB, Arkansas State AG Settle with Brokers of High-Interest Credit Offers
August 15, 2019 / Source: CFPB
CFPB, Arkansas State AG Settle with Brokers of High-Interest Credit Offers AUG 15, 2019 Washington, D.C. – The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General yesterday filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. The companies, owned and operated by Gamber, were brokers…
August 15, 2019: Bank Accounting Advisory Series Updated
August 15, 2019 / Source: OCC
NR 2019-91 FOR IMMEDIATE RELEASE August 15, 2019 Contact: Stephanie Collins (202) 649-6870 Bank Accounting Advisory Series Updated WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released an update to the Bank Accounting Advisory Series (BAAS). The BAAS covers a variety of topics and promotes consistent application of accounting standards among…
August 15, 2019: OCC Enforcement Actions and Terminations
August 15, 2019 / Source: OCC
NR 2019-92 FOR IMMEDIATE RELEASE August 15, 2019 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. All Cease and…
Comptroller of the Currency Visits Baltimore Affordable Housing Event
August 14, 2019 / Source: OCC
NR 2019-90 FOR IMMEDIATE RELEASE August 14, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Visits Baltimore Affordable Housing Event BALTIMORE — Comptroller of the Currency Joseph Otting and senior staff visited an event promoting affordable and sustainable homeownership in Baltimore on Monday. The free “Achieve the Dream” event hosted by the non-profit…
FHFA Publishes Final Rule on Credit Score Models
August 14, 2019 / Source: FHFA
News Release FHFA Publishes Final Rule on Credit Score Models FOR IMMEDIATE RELEASE 8/13/2019 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today sent to the Federal Register for publication a final rule on the validation and approval of third-party credit score model(s) that can be used by Fannie Mae and Freddie Mac (the Enterprises). …
Former Bank Employee Admits Role in Embezzlement Scam
August 13, 2019 / Source: FDICOIG
FOR IMMEDIATE RELEASE Wednesday, July 31, 2019 Former Bank Employee Admits Role in Embezzlement Scam HOUSTON – A 38-year-old ex-employee of a local bank who resides in Houston has pleaded guilty to embezzlement, announced U.S. Attorney Ryan K. Patrick. Adriana Granados aka Adriana Canas pleaded guilty today to one count of embezzling from her…