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Helpful Resources for Members Directly Affected by the Flooding
March 22, 2019
We are saddened to hear of the devastation caused by recent flooding in Iowa, Missouri, Nebraska, and throughout the Midwest. We are keeping a close eye on any announcement from the federal regulatory agencies regarding branch closures or relief—while the agencies do not yet appear to have issued anything official, we will be sure to…
OCC Reports Mortgage Performance Improves in Fourth Quarter of 2018
March 22, 2019 / Source: OCC
NR 2019-30 FOR IMMEDIATE RELEASE March 22, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Reports Mortgage Performance Improves in Fourth Quarter of 2018 WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2018. The OCC Mortgage…
OCC Reports Fourth Quarter 2018 Bank Trading Revenue
March 22, 2019 / Source: OCC
NR 2019-29 FOR IMMEDIATE RELEASE March 22, 2019 Contact: Paul Ross (202) 649-6870 OCC Reports Fourth Quarter 2018 Bank Trading Revenue WASHINGTON — The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $4.2 billion in the fourth quarter 2018, which was $2.9 billion,…
Press Release: Federal Reserve System publishes annual financial statements
March 22, 2019 / Source: FRB
Press Release March 22, 2019 Federal Reserve System publishes annual financial statements For release at 12:00 p.m. EDT Share The Federal Reserve System on Friday released the 2018 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. An…
Federal Reserve Board announces termination of enforcement action with Commercial State Bank
March 21, 2019 / Source: FRB
Press Release March 21, 2019 Federal Reserve Board announces termination of enforcement action with Commercial State Bank For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Commercial State Bank, Andrews, Texas Cease and Desist Order, dated December 26, 2018 Terminated March 18,…
Federal Reserve Board publishes report containing summary information on debit card transactions in 2017
March 21, 2019 / Source: FRB
Press Release March 21, 2019 Federal Reserve Board publishes report containing summary information on debit card transactions in 2017 For release at 12:00 p.m. EDT Share The Federal Reserve Board on Thursday published a report on debit card transactions in 2017, including information on volume and value, interchange fee revenue, certain issuer costs, and fraud…
Consumer Financial Protection Bureau Releases Report on 2018 Administration of the Fair Debt Collection Practices Act
March 21, 2019 / Source: CFPB
Consumer Financial Protection Bureau Releases Report on 2018 Administration of the Fair Debt Collection Practices Act MAR 20, 2019 Washington, D.C. — The Consumer Financial Protection Bureau (Bureau) released the annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights the continued efforts by the Bureau and the…
FDIC’s Supervisory Insights Winter Edition Focuses on LIBOR
March 20, 2019 / Source: FDIC
Press Releases FDIC's Supervisory Insights Winter Edition Focuses on LIBOR FOR IMMEDIATE RELEASE March 20, 2019 Media contact: Greg Hernandez (202) 898-6984 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the Winter 2018 issue of Supervisory Insights, which includes an article examining the future of, and alternatives to, the London Inter-bank Offered Rate (LIBOR). LIBOR is a…
Federal Reserve issues FOMC statement March 20, 2019
March 20, 2019 / Source: FRB
Press Release PDF March 20, 2019 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Share Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter. Payroll employment…
Office of the Comptroller of the Currency Fines Citibank, N.A. $25 Million for Violating the Fair Housing Act
March 19, 2019 / Source: OCC
NR 2019-27 FOR IMMEDIATE RELEASE March 19, 2019 Contact: Bryan Hubbard (202) 649-6870 Office of the Comptroller of the Currency Fines Citibank, N.A. $25 Million for Violating the Fair Housing Act WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $25 million civil money penalty against Citibank, N.A., for violations of the…
Margin and Capital Requirements for Covered Swap Entities: Interim Final Rule
March 19, 2019 / Source: OCC
OCC BULLETIN 2019-14 Subject: Margin and Capital Requirements for Covered Swap Entities Date: March 19, 2019 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banking Organizations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Interim Final Rule Summary The Office of the…
Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the Office of the Comptroller of the Currency
March 18, 2019 / Source: OCC
Alert 2019-3 Subject: Fictitious Regulatory Agency Notification Date: March 15, 2019 Description: Fictitious Notification Attributed to Officials of the Office of the Comptroller of the Currency Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the Office of the Comptroller of the Currency To: Chief Executive Officers of All National Banks and Federal Savings…
FDIC Settles with PricewaterhouseCoopers LLP on Audits of a Failed Bank
March 18, 2019 / Source: FDIC
Press Releases FDIC Settles with PricewaterhouseCoopers LLP on Audits of a Failed Bank FOR IMMEDIATE RELEASE March 15, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation as Receiver for Colonial Bank (FDIC) has announced a $335 million settlement with PricewaterhouseCoopers LLP (PwC) related to professional negligence claims brought by the…
Agencies Adopt Interim Final Rule to Facilitate Transfers of Legacy Swaps
March 15, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Farm Credit Administration Federal Deposit Insurance Corporation Federal Housing Finance Agency Office of the Comptroller of the Currency NR 2019-26 FOR IMMEDIATE RELEASE March 15, 2019 Agencies Adopt Interim Final Rule to Facilitate Transfers of Legacy Swaps Five federal agencies today acted to ensure that…
OCC Enforcement Actions and Terminations for March 2019
March 15, 2019 / Source: OCC
NR 2019-25 FOR IMMEDIATE RELEASE March 15, 2019 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations for March 2019 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….
Former Henry County Bank Executive Sentenced to Prison for Bank Fraud
March 14, 2019 / Source: FDICOIG
PRESS RELEASE FOR IMMEDIATE RELEASE Wednesday, March 13, 2019 Former Henry County Bank Executive Sentenced to Prison for Bank Fraud Jackson, TN – A former bank executive has been sentenced to twelve months and one day in federal prison for bank fraud. U.S. Attorney D. Michael Dunavant announced the sentence today. According to information presented in…
Crapo Statement at The Consumer Financial Protection Bureau’s Semiannual Report to Congress
March 14, 2019 / Source: Banking Senate
MARCH 12, 2019 Crapo Statement at The Consumer Financial Protection Bureau’s Semiannual Report to Congress WASHINGTON – U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing to receive The Consumer Financial Protection Bureau’s semiannual report to congress. The text of…
Counterfeit Cashier’s Checks of the First National Bank of Elmer, Elmer, NJ
March 13, 2019 / Source: OCC
Alert 2019-2 Subject: Counterfeit Cashier’s Checks Date: March 13, 2019 Description: First National Bank of Elmer Counterfeit Cashier’s Checks of the First National Bank of Elmer, Elmer, NJ 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…
ACH Network Marks a Daily Volume Record of 100 Million Payments
March 13, 2019 / Source: NACHA
ACH Network Marks a Daily Volume Record of 100 Million Payments POSTED MARCH 12, 2019 HERNDON, Va., March 12, 2019 – The ACH Network set a record in February as volume exceeded 100 million ACH payments per banking day—an increase of 7.2 percent over February 2018. In each year there were 19 banking days in…
Consumer Financial Protection Bureau Announces 18th Edition of Supervisory Highlights
March 12, 2019 / Source: CFPB
Consumer Financial Protection Bureau Announces 18th Edition of Supervisory Highlights MAR 12, 2019 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) today released its 18th edition of Supervisory Highlights. The report covers Bureau supervision activities generally completed between June 2018 and November 2018, and includes examination findings in the areas of automobile loan…
Federal Reserve Board permanently bars two former employees of The Goldman Sachs Group, Inc. from the banking industry
March 12, 2019 / Source: FRB
Press Release March 12, 2019 Federal Reserve Board permanently bars two former employees of The Goldman Sachs Group, Inc. from the banking industry For release at 10:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced that it is prohibiting Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from the banking…
Former Bank Tellers Sentenced To Prison, Ordered To Pay Back $1.6 Million To The Peoples Bank In Eatonton
March 11, 2019 / Source: FDICIG
FOR IMMEDIATE RELEASE Tuesday, March 5, 2019 Former Bank Tellers Sentenced To Prison, Ordered To Pay Back $1.6 Million To The Peoples Bank In Eatonton MACON – Two former bank tellers were sentenced today to prison and ordered to pay more than $1.6 million dollars to the institution they defrauded, announced Charles “Charlie” Peeler,…
FFIEC Members Adopt Policy Statement on the Report of Examination
March 11, 2019 / Source: CFPB
FFIEC Members Adopt Policy Statement on the Report of Examination MAR 06, 2019 SHARE THIS Share on Facebook Share on Twitter Share on LinkedIn Share on email The Federal Financial Institutions Examination Council (FFIEC) members today issued principles to promote consistency, clarity and ease of reference for the presentation of information in examination reports. The FFIEC…
Revisions to the Consolidated Reports of Condition and Income and Other Regulatory Reports
March 8, 2019 / Source: FDIC
Financial Institution Letters FIL-12-2019 March 8, 2019 Revisions to the Consolidated Reports of Condition and Income and Other Regulatory Reports Printable Format: FIL-12-2019 – PDF (PDF Help) Summary: The banking agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), have finalized revisions to the Consolidated Reports of Condition and Income (Call Report) and…
Home Mortgage Disclosure Act: Key Data Fields for Full and Partial Reporters
March 8, 2019 / Source: OCC
OCC BULLETIN 2019-12 Subject: Home Mortgage Disclosure Act Date: March 7, 2019 To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Key Data Fields for Full and Partial Reporters Summary The Office of the Comptroller…