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Buckeye State Bank Assumes All of the Deposits of Resolute Bank
October 28, 2019 / Source: FDIC
Press Releases Buckeye State Bank Assumes All of the Deposits of Resolute Bank FOR IMMEDIATE RELEASE October 25, 2019 FDIC Customer Service Call Center Toll Free – 1-866-806-6128 WASHINGTON — Resolute Bank in Maumee, Ohio, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as…
October 25, 2019: FDIC Makes Public September Enforcement Actions
October 25, 2019 / Source: FDIC
Press Releases FDIC Makes Public September Enforcement Actions; No Administrative Hearings Scheduled for November 2019 FOR IMMEDIATE RELEASE October 25, 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 September. There are no administrative…
Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss
October 25, 2019 / Source: FDICOIG
FOR IMMEDIATE RELEASE Tuesday, October 22, 2019 Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss SACRAMENTO, Calif. — Two defendants pleaded guilty today to their participation in a massive fraud scheme involving a solar energy company in Benicia, that defrauded investors of approximately $1 billion,…
U.S. Financial Regulatory Agencies Join the Global Financial Innovation Network
October 24, 2019 / Source: OCC
News Release 2019-122 | October 24, 2019 U.S. Financial Regulatory Agencies Join the Global Financial Innovation Network SHARE THIS PAGE: · Joint Release Commodity Futures Trading Commission Federal Deposit Insurance Corporation Office of Comptroller of the Currency Securities and Exchange Commission The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and…
CFPB to Host Symposium on November 6
October 24, 2019 / Source: CFPB
CFPB to Host Symposium on November 6 OCT 24, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) announced today that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019 at 9:30 a.m. The event will be webcast on the Bureau’s website. Section 1071 amended the Equal Credit Opportunity…
Request for Information on the Use of the Uniform Financial Institutions Rating System
October 23, 2019 / Source: FDIC
Financial Institution Letters FIL-64-2019 October 23, 2019 Request for Information on the Use of the Uniform Financial Institutions Rating System Printable Format: FIL-64-2019 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation and the Federal Reserve Board are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under…
U.S. DEPARTMENT OF LABOR PROPOSES NEW ELECTRONIC DISCLOSURE RULE
October 23, 2019 / Source: DOL
News Release U.S. DEPARTMENT OF LABOR PROPOSES NEW ELECTRONIC DISCLOSURE RULE WASHINGTON, DC – Consistent with President Donald J. Trump’s Executive Order 13487, Strengthening Retirement Security in America, the U.S. Department of Labor today announced a proposed rule to allow online retirement plan disclosures to reduce printing and mail expenses for job creators and make disclosures…
Licensing: Revised Comptroller’s Licensing Manual Booklets
October 22, 2019 / Source: OCC
OCC Bulletin 2019-50| October 22, 2019 Licensing: Revised Comptroller’s Licensing Manual Booklets SHARE THIS PAGE: · 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 Summary The Office of the Comptroller of the Currency (OCC)…
FDIC Advisory Committee on Economic Inclusion to Meet Today
October 22, 2019 / Source: FDIC
Press Releases FDIC Advisory Committee on Economic Inclusion to Meet Today FOR IMMEDIATE RELEASE October 21, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, October 22, to discuss developments in credit scoring and underwriting, the status of the mortgage…
Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income (Call Report)
October 21, 2019 / Source: FDIC
Financial Institution Letters FIL-62-2019 October 21, 2019 Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income (Call Report) Printable Format: FIL-62-2019 – PDF (PDF Help) Summary: The federal banking agencies are requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and…
FDIC and Fed Request Information on the Use and Impact of CAMELS Ratings
October 21, 2019 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For Immediate Release October 18, 2019 FDIC and Fed Request Information on the Use and Impact of CAMELS Ratings In keeping with ongoing initiatives to increase transparency and improve efficiency, the Federal Deposit Insurance Corporation and Federal Reserve Board…
News Release 2019-121: OCC Enforcement Actions and Terminations
October 18, 2019 / Source: OCC
News Release 2019-121 | October 18, 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 releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances
October 18, 2019 / Source: FRB
Press Release October 17, 2019 Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances For release at 4:00 p.m. EDT Share The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and…
Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank
October 17, 2019 / Source: FRB
Press Release October 17, 2019 Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank For release at 11:30 a.m. EDT Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent prohibition against Michael Joseph Erickson, former employee of Southern Bancorp Bank, Arkadelphia, Arkansas, for…
Federal Financial Regulatory Agencies Seek Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses and Proposed Interagency Guidance on Credit Risk Review Systems
October 17, 2019 / Source: OCC
News Release 2019-120 | October 17, 2019 Federal Financial Regulatory Agencies Seek Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses and Proposed Interagency Guidance on Credit Risk Review Systems SHARE THIS PAGE: · Joint Release Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the…
Adam West Reviews Compliance Alliance’s Popular Bank Compliance Solutions
October 16, 2019
Article Find the whole article here BadCredit.org writer, Adam West gives a great overview of Compliance Alliance and then dives right into the details of how C/A got off the ground, and what keeps them at the forefront of consumer and federal bank compliance. Once he's covered the history, he then tackles the more granular…
Speech: Digital Currencies, Stablecoins, and the Evolving Payments Landscape
October 16, 2019 / Source: FRB
Speech PDF October 16, 2019 Digital Currencies, Stablecoins, and the Evolving Payments Landscape Governor Lael Brainard At The Future of Money in the Digital Age, Sponsored by the Peterson Institute for International Economics and Princeton University’s Bendheim Center for Finance, Washington, D.C. Share Watch Live Technology is driving rapid change in the way we…
Blake Paulson Named Agency’s Next Senior Deputy Comptroller for Midsize and Community Bank Supervision
October 16, 2019 / Source: OCC
News Release 2019-119 | October 15, 2019 Blake Paulson Named Agency’s Next Senior Deputy Comptroller for Midsize and Community Bank Supervision SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Blake Paulson would become the next Senior Deputy Comptroller for Midsize and Community Bank Supervision. In this role, Mr. Paulson will…
ACH Network Volume Jumps 9.5% in Third Quarter
October 15, 2019 / Source: NACHA
ACH Network Volume Jumps 9.5% in Third Quarter POSTED ON October 15, 2019 Same Day ACH Volume Surpasses 1 Million Payments Daily HERNDON, Va., Oct. 15, 2019 – ACH Network payment volume and Same Day ACH payment volume both soared in the third quarter of 2019. The 6.2 billion ACH payments in the third quarter…
CFPB Private Education Loan Ombudsman Issues 2019 Annual Report
October 15, 2019 / Source: CFPB
CFPB Private Education Loan Ombudsman Issues 2019 Annual Report OCT 15, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) Private Education Loan Ombudsman issued today the 2019 Annual Report showing that from September 1, 2017 through August 31, 2019 the Bureau handled approximately 20,600 complaints related to private or federal student loans. Of these,…
CFPB Announces Taskforce on Federal Consumer Financial Law
October 11, 2019 / Source: CFPB
CFPB Announces Taskforce on Federal Consumer Financial Law OCT 11, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today announced that it will establish a taskforce to examine ways to harmonize and modernize federal consumer financial laws. The Taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and…
OCC Assesses $30 Million Civil Money Penalty Against Citibank
October 11, 2019 / Source: OCC
News Release 2019-118 | October 11, 2019 OCC Assesses $30 Million Civil Money Penalty Against Citibank SHARE THIS PAGE: · WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $30 million civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violations related to the holding period of other real estate owned…
Consumer Financial Protection Bureau Issues Final HMDA Rule to Provide Relief to Smaller Institutions
October 10, 2019 / Source: CFPB
Consumer Financial Protection Bureau Issues Final HMDA Rule to Provide Relief to Smaller Institutions OCT 10, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued a rule which finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current…
Federal Reserve Board announces it is seeking to permanently bar former branch manager and vice president of Pacific Premier Bank from employment in banking industry
October 10, 2019 / Source: FRB
Press Release October 10, 2019 Federal Reserve Board announces it is seeking to permanently bar former branch manager and vice president of Pacific Premier Bank from employment in banking industry For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced that it is seeking to permanently bar Mai Ly-Vu, a former…
October 9, 2019: FDIC Announces Meeting of Advisory Committee on Community Banking
October 9, 2019 / Source: FDIC
Press Releases FDIC Announces Meeting of Advisory Committee on Community Banking FOR IMMEDIATE RELEASE October 9, 2019 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, October 10. FDIC senior staff will provide…