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Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware
December 5, 2019 / Source: FinCEN
Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware Immediate Release December 05, 2019 Washington – Today the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) took action against Evil Corp, the Russia-based cybercriminal organization responsible for the development and distribution of the Dridex malware. Evil Corp has used the…
FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets
December 5, 2019 / Source: FinCEN
FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets Contact Steve Hudak, 703-905-3770 Immediate Release December 04, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today released a new strategic analysis of Bank Secrecy Act (BSA) reporting, indicating that elders face an increased threat to their financial…
December 4, 2019: FDIC Issues List of Banks Examined for CRA Compliance
December 4, 2019 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE December 4, 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…
Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting
December 4, 2019 / Source: OCC
News Release 2019-142 | December 3, 2019 Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting SHARE THIS PAGE: Joint Release Board of Governors of the Federal Reserve System Consumer Financial Protection Bureau Federal Deposit Insurance Corporation Office of Comptroller of the Currency National Credit Union Administration WASHINGTON – Five federal financial regulatory…
Consumer Financial Protection Bureau Issues Notice of Proposed Rulemaking on Remittance Rule
December 3, 2019 / Source: CFPB
Consumer Financial Protection Bureau Issues Notice of Proposed Rulemaking on Remittance Rule DEC 03, 2019 WASHINGTON, D.C. –The Consumer Financial Protection Bureau (Bureau) issued today a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule). The Rule generally requires companies that provide remittance transfers in the normal course of business disclose to consumers certain…
Agencies Clarify Requirements for Providing Financial Services to Hemp-Related Businesses
December 3, 2019 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Financial Crimes Enforcement Network Office of the Comptroller of the Currency Conference of State Bank Supervisors For Release at 10:00 a.m. ET December 3, 2019 Agencies Clarify Requirements for Providing Financial Services to Hemp-Related Businesses WASHINGTON—Four federal agencies in…
FDIC Seeks Comment on Approaches to Cost-Benefit Analysis
December 3, 2019 / Source: FDIC
Press Releases FDIC Seeks Comment on Approaches to Cost-Benefit Analysis FOR IMMEDIATE RELEASE December 3, 2019 Media Contact: Brian Sullivan 202-898-6534 [email protected] WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is issuing a Request for Information (RFI) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions. The RFI…
Webinar on Recent and Proposed Revisions to the Consolidated Reports of Condition and Income (Call Report)
December 2, 2019 / Source: FDIC
Financial Institution Letters Federal Financial Institutions Examination Council 3501 Fairfax Drive – Room B7081a – Arlington, VA 22226-3550 – (703) 516-5588 – FAX (703) 562-6446 – http://www.ffiec.gov FIL-75-2019 December 2, 2019 Printable Format: FIL-75-2019 – PDF (PDF Help) DEPOSITORY INSTITUTION REPORTS TO: CHIEF EXECUTIVE OFFICER (also of interest to Chief Financial Officer) SUBJECT:…
Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
December 2, 2019 / Source: FDIC
Financial Institution Letters FIL-74-2019 December 2, 2019 Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts Printable Format: FIL-74-2019 – PDF (PDF Help) Summary: The federal bank regulatory agencies (the agencies) have jointly issued a final rule that amends the regulatory capital rule (capital rule) to implement a new approach for…
FDIC Makes Public October 2019 Enforcement Actions
December 2, 2019 / Source: FDIC
Press Releases FDIC Makes Public October Enforcement Actions; No Administrative Hearings Scheduled for December 2019 FOR IMMEDIATE RELEASE November 29, 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 October. There are no administrative…
FDIC Issues CRA Examination Schedules for First and Second Quarter 2020
December 2, 2019 / Source: FDIC
Press Releases FDIC Issues CRA Examination Schedules for First and Second Quarter 2020 FOR IMMEDIATE RELEASE November 29, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first and second quarter 2020. CRA regulations…
November 27, 2019: Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services
November 27, 2019 / Source: FRB
Press Release November 27, 2019 Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services For release at 10:00 a.m. EST Share The Federal Reserve Board on Wednesday announced the approval of fee schedules, effective January 2, 2020, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve…
OCC Bulletin 2019-60: Other Real Estate Owned: Final Rule
November 27, 2019 / Source: OCC
OCC Bulletin 2019-60| November 26, 2019 Other Real Estate Owned: Final Rule SHARE THIS PAGE: · 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 October 22, 2019, the Office of the Comptroller of the Currency (OCC)…
OCC Issues First and Second Quarter 2020 CRA Evaluation Schedule
November 26, 2019 / Source: OCC
News Release 2019-140 | November 26, 2019 OCC Issues First and Second Quarter 2020 CRA Evaluation Schedule SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first quarter and second quarter 2020. The OCC encourages public comment on…
FDIC-Insured Institutions Reported Net Income of $57.4 Billion in Third Quarter 2019
November 26, 2019 / Source: FDIC
Press Releases FOR IMMEDIATE RELEASE November 26, 2019 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] FDIC-Insured Institutions Reported Net Income of $57.4 Billion in Third Quarter 2019 Net Income Declined 7.3 Percent from Third Quarter 2018 Due to Nonrecurring Events at Three Large Institutions Net Interest Margin Declined from a Year Ago to 3.35…
Consumer Financial Protection Bureau Settles with Military Travel Lender and Servicer
November 26, 2019 / Source: CFPB
Consumer Financial Protection Bureau Settles with Military Travel Lender and Servicer Edmiston Marketing, LLC Hid Credit Costs and USA Service Finance, LLC Overcharged Servicemembers for Add-on Product NOV 25, 2019 Washington, D.C. — Today the Consumer Financial Protection Bureau (Bureau) announced settlements with Edmiston Marketing, LLC, also called Easy Military Travel, its principal, Brandon Edmiston, and USA…
OCC Reduces 2020 Assessments on National Banks and Federal Savings Associations
November 25, 2019 / Source: OCC
News Release 2019-139 | November 25, 2019 OCC Reduces 2020 Assessments on National Banks and Federal Savings Associations SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) is reducing the rates in all fee schedules by 10 percent for the 2020 calendar year. The 2020 reduction is in addition to the 10-percent reduction…
FinCEN Realigns Division to Increase Strategic Capabilities
November 25, 2019 / Source: FinCEN
FinCEN Realigns Division to Increase Strategic Capabilities Contact Steve Hudak, 703-905-3770 Immediate Release November 25, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has announced the realignment of its Liaison Division as the Strategic Operations Division (Strategic Ops), effective November 24, 2019. Strategic Ops will be responsible for designing and implementing FinCEN’s strategic partnerships across…
Banker Teleconference Series: Understanding the Requirements of the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule (TRID Rule)
November 22, 2019 / Source: FDIC
Financial Institution Letters FIL-73-2019 November 22, 2019 Banker Teleconference Series: Understanding the Requirements of the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule (TRID Rule) Printable Format: FIL-73-2019 – PDF (PDF Help) Summary: The FDIC offers a series of events for bankers, including teleconferences and webinars, to maintain open lines of…
CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers
November 22, 2019 / Source: CFPB
CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers NOV 21, 2019 Washington, D.C. –The Consumer Financial Protection Bureau (Bureau) released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined by the…
Permissible Interest on Loans That Are Transferred: Notice of Proposed Rulemaking
November 22, 2019 / Source: OCC
OCC Bulletin 2019-58| November 21, 2019 Permissible Interest on Loans That Are Transferred: Notice of Proposed Rulemaking SHARE THIS PAGE: · To Chief Executive Officers of All National Banks and Savings Associations; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) is issuing a notice…
News Release 2019-138: OCC Enforcement Actions and Terminations
November 21, 2019 / Source: OCC
News Release 2019-138 | November 21, 2019 OCC Enforcement Actions and Terminations SHARE THIS PAGE: · 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…
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2020
November 21, 2019 / Source: FRB
Press Release November 20, 2019 Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2020 For release at 10:00 a.m. EST Share The Federal Reserve Board on Wednesday announced the annual indexing of the reserve requirement exemption amount and the low reserve tranche. These amounts are used…
Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule
November 20, 2019 / Source: CFPB
Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule NOV 20, 2019 Washington, D.C. – The Consumer Financial Protection Bureau (Bureau) is requesting public comment on an assessment it will conduct on the TRID Integrated Disclosure Rule (the Truth in Lending Act and Real Estate Settlement Procedures Act). As part of its assessment, the Bureau…
Federal bank regulatory agencies issue final rule on treatment of high volatility commercial real estate
November 20, 2019 / Source: FRB
Joint Press Release November 19, 2019 Federal bank regulatory agencies issue final rule on treatment of high volatility commercial real estate Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 2:30 p.m. EST Share Three federal bank regulatory agencies finalized a rule…