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].
OCC Fines Citibank More Than $17 Million for Violating the Flood Disaster Protection Act
January 21, 2020 / Source: OCC
News Release 2020-5 | January 21, 2020 OCC Fines Citibank More Than $17 Million for Violating the Flood Disaster Protection Act WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 (FDPA) and its implementing…
ODFIs Should Talk to Customers Now About the Higher Same Day ACH Dollar Limit
January 21, 2020 / Source: NACHA
ODFIs Should Talk to Customers Now About the Higher Same Day ACH Dollar Limit Michael W. Kahn Editor’s Note: This is the second in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look at what…
CFPB Announces Additional Member of Taskforce on Federal Consumer Financial Law
January 17, 2020 / Source: CFPB
CFPB Announces Additional Member of Taskforce on Federal Consumer Financial Law JAN 17, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced an additional member who will serve on the Taskforce on Federal Consumer Financial Law. The addition is: William MacLeod, partner at Kelley Drye & Warren, LLP, Past Chair of the Antitrust…
Cybersecurity: Joint Statement on Heightened Cybersecurity Risk
January 17, 2020 / Source: OCC
OCC Bulletin 2020-5| January 16, 2020 Cybersecurity: Joint Statement on Heightened Cybersecurity Risk 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) and the Federal Deposit Insurance Corporation (FDIC) today…
FDIC Updates Money Smart for Small Business Credit and Banking Modules
January 16, 2020 / Source: FDIC
Press Releases FDIC Updates Money Smart for Small Business Credit and Banking Modules Enhanced tools can help banks support small businesses FOR IMMEDIATE RELEASE January 16, 2020 Media contact: LaJuan Williams-Young 202-898-3876 [email protected] As part of their ongoing commitment to strengthening bank-community partnerships, the Federal Deposit Insurance Corporation (FDIC) and U.S. Small Business Administration (SBA) today released…
News Release 2020-4: OCC Enforcement Actions and Terminations
January 16, 2020 / Source: OCC
News Release 2020-4 | January 16, 2020 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 Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders…
Former Chief Lending Officer Of a New Jersey Bank Admits Making False Statements To United States In An Effort To Secure Federal Guarantees On Loans
January 15, 2020 / Source: FDICOIG
FOR IMMEDIATE RELEASE Wednesday, January 8, 2020 Former Chief Lending Officer Of a New Jersey Bank Admits Making False Statements To United States In An Effort To Secure Federal Guarantees On Loans TRENTON, N.J. – A Pennsylvania man today admitted improperly securing a federal guarantee on a loan by making false statements to the Small…
Equifax Settles Mega-Breach Lawsuit for $1.38 Billion
January 15, 2020 / Source: BankInfo Security
Equifax Settles Mega-Breach Lawsuit for $1.38 Billion Federal Judge Gives Final Approval to Class Action Settlement Over 2017 BreachJeremy Kirk (jeremy_kirk) • January 15, 2020 A federal judge in Atlanta has given final approval to a settlement that resolves a class action lawsuit against credit bureau Equifax, which in 2017 suffered one of the largest…
Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020
January 14, 2020 / Source: FRB
Press Release January 14, 2020 Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020 For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the…
IRS Reminds Taxpayers that Direct Deposit is the Fastest Way to Receive a Refund
January 14, 2020 / Source: NACHA
IRS Reminds Taxpayers that Direct Deposit is the Fastest Way to Receive a Refund POSTED ON January 14, 2020 Want your tax refund fast? Use Direct Deposit. And while you’d normally think that’s what we’d say, this time it’s not. That’s coming from the Internal Revenue Service, which called Direct Deposit the “simple, safe and…
Consolidated Reports of Condition and Income for Fourth Quarter 2019
January 13, 2020 / Source: FDIC
Financial Institution Letters FIL-2-2020 January 13, 2020 Consolidated Reports of Condition and Income for Fourth Quarter 2019 Printable Format: FIL-2-2020 – PDF (PDF Help) Summary: The Consolidated Reports of Condition and Income (Call Report) for the December 31, 2019, report date must be submitted to the agencies' Central Data Repository by Thursday, January 30, 2020. Certain…
Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020
January 13, 2020 / Source: FRB
Press Release January 10, 2020 Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020 For release at 12:00 p.m. EST Share The Federal Reserve Board on Friday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2020. Each Reserve…
Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers
January 10, 2020 / Source: CFPB
Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers JAN 10, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies (HCAs) certified by the U.S. Department of Housing and…
Community Reinvestment Act: Notice of Proposed Rulemaking
January 10, 2020 / Source: OCC
Community Reinvestment Act: Notice of Proposed Rulemaking To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have issued a joint notice of proposed…
Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019
January 10, 2020 / Source: FRB
Press Release January 10, 2020 Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019 For release at 10:00 a.m. EST Share The Federal Reserve Board on Friday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $54.9 billion to the U.S. Treasury. The…
Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies
January 9, 2020 / Source: CFPB
Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies JAN 09, 2020 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and…
Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte
January 9, 2020 / Source: FRB
Press Release January 09, 2020 Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: United Bank of El Paso del Norte, El Paso, Texas Cease and Desist Order…
A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B
January 8, 2020 / Source: NACHA
A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B Michael W. Kahn Nacha Editor’s Note: This is the first in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look…
Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020
January 8, 2020 / Source: OCC
Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020 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 On December 30, 2019, the Office of the Comptroller of the Currency (OCC) published in the Federal Register the…
HUD ISSUES IMPROVED FAIR HOUSING RULE
January 8, 2020 / Source: HUD
HUD ISSUES IMPROVED FAIR HOUSING RULE WASHINGTON – The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD's proposed rule. “HUD's commitment to Fair Housing remains as steadfast as ever…
Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Stephenson National Bank & Trust, Marinette, Wis.
January 8, 2020 / Source: OCC
Counterfeit Cashier's Checks: Counterfeit Cashier's Checks of Stephenson National Bank & Trust, Marinette, Wis. 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 State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels;…
Nacha Announces New Officers and Directors for 2020
January 8, 2020 / Source: NACHA
Nacha Announces New Officers and Directors for 2020 Nacha today announced its new Board Chairperson and Secretary/Treasurer as well as six new directors. The Nacha Board oversees the governance and administration of Nacha as the ACH Network administrator and industry trade association. “We are pleased to welcome our new officers and directors,” said Nacha President…
America Saves Week is Coming; Here’s Why You Need to Be Involved
January 6, 2020 / Source: NACHA
America Saves Week is Coming; Here’s Why You Need to Be Involved POSTED ON January 06, 2020 AUTHOR Michael W. Kahn You don’t have to look far to find proof that many Americans aren’t saving enough. And we’re not even talking about retirement. What if the car’s transmission dies? What if the refrigerator is toast? …
US Conflict With Iran Sparks Cybersecurity Concerns
January 6, 2020 / Source: Bank Info Security
US Conflict With Iran Sparks Cybersecurity Concerns Homeland Security Reminds CISOs to Protect Critical SystemsScott Ferguson (@Ferguson_Writes) • January 3, 2020 (This story has been updated. See additional updates on the threat posed by pro-Iranian hackers and an incident involving defacing of a U.S. government website.) After an Iranian general was killed in a U.S. drone strike in Baghdad late…
OCC Releases CRA Evaluations for 24 National Banks and Federal Savings Associations
January 3, 2020 / Source: OCC
News Release 2020-4 | January 3, 2020 OCC Releases CRA Evaluations for 24 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 December 1, 2019 through December 31, 2019. The list contains only national…