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Interagency Webinar Revisions to the Framework for Margin Requirements for Non-Centrally Cleared Derivatives
July 22, 2019 / Source: FDIC
Financial Institution Letters FIL-42-2019 July 22, 2019 Interagency Webinar Revisions to the Framework for Margin Requirements for Non-Centrally Cleared Derivatives Printable Format: FIL-42-2019 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency are jointly hosting a webinar on revisions to…
FASB STAFF ISSUES Q&A TO HELP ORGANIZATIONS ESTIMATE EXPECTED CREDIT LOSSES ON FINANCIAL ASSETS
July 19, 2019 / Source: FASB
FASB STAFF ISSUES Q&A TO HELP ORGANIZATIONS ESTIMATE EXPECTED CREDIT LOSSES ON FINANCIAL ASSETS Board also authorizes staff to plan CECL workshops around the United States Norwalk, CT, July 17, 2019—The Financial Accounting Standards Board (FASB) staff today issued a second question-and-answer (Q&A) document that addresses more than a dozen frequently asked questions related to Accounting Standards…
Statement by FinCEN Director Kenneth A. Blanco
July 19, 2019 / Source: FinCEN
Statement by FinCEN Director Kenneth A. Blanco in Support of Yesterday's Anti-Terrorism Financing Actions by Argentina and Its Financial Intelligence Unit Immediate Release July 19, 2019 “Yesterday, Argentina’s Unidad de Informaciὀn Financiera de la República Argentina (UIF-AR) took courageous action to freeze assets belonging to the Hezbollah terrorist organization and list them on a public registry pursuant to a…
Consumer Financial Protection Bureau Releases Report on Third-Party Debt Collections
July 18, 2019 / Source: CFPB
Consumer Financial Protection Bureau Releases Report on Third-Party Debt Collections JUL 18, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) released a report today that found that more than one-in-four consumers with a credit report have at least one debt in collection by third-party debt collectors. Today’s report, which covers 2004 to 2018, is…
NR 2019-80: OCC Enforcement Actions and Terminations
July 18, 2019 / Source: OCC
NR 2019-80 FOR IMMEDIATE RELEASE July 18, 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…
Featured July Webinar – FCRA
July 18, 2019
FCRA Webinar 2019 Thursday – July 18, 2019 – 2:30 pm Central Time Zone This session will cover FCRA requirements related to consumer credit reports and covering permissible purpose, adverse action, risk-based pricing, required notices, affiliate sharing, employment requirements and medical information. The presentation will focus on hot topics that are asked about and requested…
Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults
July 17, 2019 / Source: CFPB
Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults JUL 17, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim…
Federal Bank Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under Volcker Rule
July 17, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency NR 2019-79 FOR IMMEDIATE RELEASE July 17, 2019 Federal Bank Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under Volcker Rule The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the…
FDIC Board Finalizes Changes to Recordkeeping Requirements for Deposit Insurance Determinations
July 16, 2019 / Source: FDIC
Press Releases FDIC Board Finalizes Changes to Recordkeeping Requirements for Deposit Insurance Determinations FOR IMMEDIATE RELEASE July 16, 2019 Media contact: David Barr (202) 898-6992 [email protected] The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved amendments to two rules to simplify the process for making insurance determinations in the event a…
FinCEN Exchange Forum Counters Business Email Compromise Scams
July 16, 2019 / Source: FinCEN
FinCEN Exchange Forum Counters Business Email Compromise Scams Contact Steve Hudak, 703-905-3770 Immediate Release July 16, 2019 Suspicious Activity Reports indicate more than $300 million a month in theft WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced new efforts to curtail and impede Business Email Compromise (BEC) scammers and other criminals who profit from their…
ACH Network Sees Highest Quarterly Growth in 11 Years
July 15, 2019 / Source: NACHA
ACH Network Sees Highest Quarterly Growth in 11 Years POSTED ON July 11, 2019 Same Day ACH Volume Jumps 46% HERNDON, Va., July 11, 2019 – The ACH Network saw its highest quarterly growth rate in more than a decade during the second quarter of 2019. Volume rose 7.7% over the same period in 2018, marking…
Committee Passes Legislation to Reform the Credit Reporting System, Increase Diversity, and Strengthen Housing Protections
July 15, 2019 / Source: House Financial Services Committee
Press Releases Committee Passes Legislation to Reform the Credit Reporting System, Increase Diversity, and Strengthen Housing Protections Washington, DC, July 11, 2019 Today, the House Financial Services Committee, held a markup of ten bills to reform the broken credit reporting system, increase diversity and inclusion efforts in the financial services sector, improve the homebuying process and preserve…
OCC Allows National Banks and Federal Savings Associations Affected by Severe Weather Along the Gulf Coast to Close
July 12, 2019 / Source: OCC
NR 2019-78 FOR IMMEDIATE RELEASE July 12, 2019 Contact: Bryan Hubbard (202) 649-6870 OCC Allows National Banks and Federal Savings Associations Affected by Severe Weather Along the Gulf Coast to Close WASHINGTON — The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and…
Agencies Propose Rule on the Capital Treatment of Land Development Loans
July 12, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency NR 2019-77 FOR IMMEDIATE RELEASE July 12, 2019 Agencies Propose Rule on the Capital Treatment of Land Development Loans The federal bank regulatory agencies today invited public comment on a proposal to clarify the…
Minutes of the Federal Open Market Committee, June 18-19, 2019
July 11, 2019 / Source: FRB
Press Release July 10, 2019 Minutes of the Federal Open Market Committee, June 18-19, 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 June 18-19, 2019. A summary of economic projections made by Federal…
Ohio Man Pleads Guilty To Bank And Wire Fraud
July 11, 2019 / Source: FDICIG
FOR IMMEDIATE RELEASE Monday, July 8, 2019 Ohio Man Pleads Guilty To Bank And Wire Fraud COVINGTON, Ky. – Today, an Ohio man admitted in federal court that he collectively defrauded a Kentucky bank and seventeen individuals and businesses in Kentucky, Ohio, West Virginia, and Wisconsin of more than $4.6 million. Anthony McQuaid, 47, pleaded guilty…
Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule
July 10, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Commodity Futures Trading Commission Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Securities and Exchange Commission NR 2019-76 FOR IMMEDIATE RELEASE July 9, 2019 Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule Five federal financial regulatory agencies announced…
Agencies Simplify Regulatory Capital Rules
July 10, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency NR 2019-75 FOR IMMEDIATE RELEASE July 9, 2019 Agencies Simplify Regulatory Capital Rules The federal bank regulatory agencies today issued a final rule that reduces regulatory burden by simplifying several requirements in the agencies'…
Consumer Financial Protection Bureau Settles Lawsuit Against Freedom Debt Relief
July 9, 2019 / Source: CFPB
Consumer Financial Protection Bureau Settles Lawsuit Against Freedom Debt Relief JUL 09, 2019 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today settled its lawsuit against Freedom Debt Relief, LLC, the nation’s largest debt-settlement services provider. The company agreed to pay $20 million in restitution to affected consumers and a $5 million civil money penalty. The…
Federal Reserve System white paper examines the effects of synthetic identity payments fraud
July 9, 2019 / Source: FRB
Press Release July 09, 2019 Federal Reserve System white paper examines the effects of synthetic identity payments fraud For release at 2:00 p.m. EDT Share Synthetic identity payments fraud is a fast-growing but little-understood problem that affects individuals, financial institutions, government agencies, and private industry. The severity of this type of fraud is documented in…
Board of Directors: Reg. O Webinar is Now Available!
July 9, 2019 / Source:
Board of Directors: Reg. O Webinar is now available! Find it by going to —> News & Events —> Past Events —> Past Webinars View Webinar Here
Reduced Reporting in Call Reports for Covered Depository Institutions
July 8, 2019
Financial Institution Letters FIL-36-2019 July 5, 2019 Reduced Reporting in Call Reports for Covered Depository Institutions Printable Format: FIL-36-2019 – PDF (PDF Help) Summary: The federal banking agencies have adopted the attached final rule to implement Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 205 requires the agencies to issue regulations to…
South Florida Resident Sentenced to 30 Years for $100 Million International Fraud Scheme that Led to the Collapse of One of Puerto Rico’s Largest Banks
July 8, 2019 / Source: FDICIG
FOR IMMEDIATE RELEASE Wednesday, July 3, 2019 South Florida Resident Sentenced to 30 Years for $100 Million International Fraud Scheme that Led to the Collapse of One of Puerto Rico’s Largest Banks A Key Biscayne, Florida, resident and the former CEO and Chairman of a now-bankrupt multinational pharmaceutical company was sentenced to 30 years in…
Bank General Counsel Pleads Guilty To Conspiracy to Defraud First NBC Bank
July 8, 2019 / Source: FDICIG
FOR IMMEDIATE RELEASE Tuesday, July 2, 2019 Bank General Counsel Pleads Guilty To Conspiracy to Defraud First NBC Bank NEW ORLEANS – The United States Attorney’s Office announced that GREGORY ST. ANGELO (“ST. ANGELO”), age 54, a resident of St. Tammany Parish, pled guilty Friday, June 28, 2019 to conspiring to defraud First NBC Bank, the New Orleans-based…
C/A Closed for July 4th
July 4, 2019
C/A's offices will be closed this Thursday for the July 4th Holiday. The following day, Hotline Staff will be available by chat, email and phone from 7am – 4pm Central time zone. To send an email on Friday, please submit your requests to [email protected]. Phone calls should be directed to (888) 353-3933. This will only be…