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CFPB Issues Request For Information On Inherited Regulations and Inherited Rulemaking Authorities
March 23, 2018 / Source: CFPB
CFPB Issues Request For Information On Inherited Regulations and Inherited Rulemaking Authorities MAR 22, 2018 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) on the Bureau’s inherited regulations and inherited rulemaking authorities. The Bureau is seeking comments and information from interested parties to assist the Bureau in considering…
FFIEC Provides Update on Examination Modernization Project
March 23, 2018 / Source: FDIC
Financial Institution Letters FIL-11-2018 March 22, 2018 FFIEC Provides Update on Examination Modernization Project Printable Format: FIL-11-2018 – PDF (PDF Help) Summary: The Federal Financial Institutions Examination Council (FFIEC) has announced an update on the status of its Examination Modernization Project. The objective of the project is to identify and assess ways to improve the community…
Fair Debt Collection Practices Act Annual Report 2018
March 22, 2018 / Source: CFPB
To Congress Fair Debt Collection Practices Act Annual Report 2018 MAR 20, 2018 The Bureau is pleased to submit to Congress its seventh annual report summarizing its activities, along with those of the Federal Trade Commission (FTC), to administer the Fair Debt Collection Practices Act (“FDCPA”). This year’s report describes activities conducted by the Bureau…
Federal Reserve issues FOMC statement
March 22, 2018 / Source: FRB
Press Release March 21, 2018 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in January indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong in recent months,…
CFPB And FTC Partner To Report On 2017 Activities To Combat Illegal Debt Collection Practices
March 21, 2018 / Source: CFPB
CFPB And FTC Partner To Report On 2017 Activities To Combat Illegal Debt Collection Practices Report Provides Annual Summary of Actions Under the Fair Debt Collection Practices Act MAR 20, 2018 WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (Bureau) issued a report on the 2017 activities of the Bureau and the Federal Trade Commission…
CFPB is accepting applications for our Advisory Board and Councils (ABC)
March 21, 2018 / Source: CFPB
We are accepting applications for our Advisory Board and Councils (ABC) By Delicia Hand – MAR 19, 2018 To be sure that we hear from a variety of experts with diverse viewpoints, we set up the Consumer Advisory Board, the Community Bank Advisory Council, and the Credit Union Advisory Council. These advisory groups provide us with information…
Fifth Circuit Vacates Controversial DOL Fiduciary Rule
March 20, 2018 / Source: LEXOLOGY
McGuireWoods LLP- Alexander Martin Madrid On March 15, the U.S. Court of Appeals for the Fifth Circuit issued a decision vacating the Department of Labor’s Fiduciary Rule, the controversial measure requiring brokers and other financial professionals to adopt a “best interest” standard for their clients with ERISA or IRA accounts. The decision in Chamber of Commerce v….
Court Limits 2015 Text Marketing Rules, Gives New FCC an Opportunity to Provide Clarity
March 20, 2018 / Source: JDSUPRA
Baker Hostetler On March 16, the D.C. Circuit issued a long-awaited decision in a challenge to the Federal Communications Commission’s July 10, 2015 Declaratory Ruling and Order regarding the Telephone Consumer Protection Act (the July 2015 Order). We have previously explained the challenges created by the July 2015 Order here and here. On the whole, the unanimous 3-0 Decision offers some good news…
NACHA Marks the Completion of the Third Phase of Same Day ACH
March 19, 2018 / Source: NACHA
NACHA Marks the Completion of the Third Phase of Same Day ACH POSTED MARCH 16, 2018 Additional Same Day ACH Enhancements Are Under Development HERNDON, Va., March 16, 2018 – NACHA—The Electronic Payments Association® today marks the “go live” date of the third phase of Same Day ACH. Under this latest phase, banks and credit…
OCC Enforcement Actions and Terminations for March 2018
March 19, 2018 / Source: OCC
NR 2018-29 FOR IMMEDIATE RELEASE March 16, 2018 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations for March 2018 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….
Mortgage Servicing Webinar is Now Available!
March 16, 2018 / Source:
Mortgage Servicing Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
Progress report on addressing declines in correspondent banking and recommendations on remittances
March 16, 2018 / Source: FSB
FSB publishes progress report on addressing declines in correspondent banking and recommendations on remittances 16 March 2018 Press enquiries: +41 61 280 8138 [email protected] Ref no: 9/2018 The Financial Stability Board (FSB) today published two reports as part of its work to assess and address the decline in correspondent banking relationships (1) a progress report on the…
OCC Reports Mortgage Performance Unchanged
March 16, 2018 / Source: OCC
NR 2018-28 FOR IMMEDIATE RELEASE March 15, 2018 Contact: Stephanie Collins (202) 649-6870 OCC Reports Mortgage Performance Unchanged WASHINGTON—Performance of first-lien mortgages remained largely unchanged during the fourth quarter of 2017 compared with a year earlier, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgages. The OCC Mortgage Metrics Report,…
CFPB Issues Request For Information On Adopted Regulations and New Rulemaking Authorities
March 15, 2018 / Source: CFPB
CFPB Issues Request For Information On Adopted Regulations and New Rulemaking Authorities MAR 14, 2018 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) on the Bureau’s adopted regulations and new rulemaking authorities. The Bureau is seeking comments and information from interested parties to assist the Bureau in considering…
House Acts to Tailor Regulation
March 15, 2018 / Source: Financial Services Committee
Press Releases House Acts to Tailor Regulation Washington, March 14, 2018 – On Wednesday, the House voted 247-169 to pass a bill that would ease some of the one-size-fits-all regulations that are crippling community financial institutions. H.R. 1116, the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2017 – sponsored by Representative Scott…
NACHA Launches Program to Support Standardization of B2B ACH Transactions
March 14, 2018 / Source: NACHA
NACHA Launches Program to Support Standardization of B2B ACH Transactions POSTED MARCH 13, 2018 Request for Payment Program Leverages ISO 20022 Message Standard to Enable a Consistent Process for Electronic Invoicing and Receipt of Payment and Remittance HERNDON, Va., March. 13, 2018 – Today, NACHA—The Electronic Payments Association® announced the launch of its new Request…
Federal Reserve issues enforcement action
March 14, 2018 / Source: FRB
Press Release March 13, 2018 Federal Reserve issues enforcement action with Industrial and Commercial Bank of China Ltd. For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Industrial and Commercial Bank of China Ltd., Beijing, People's Republic of China and Industrial and Commercial…
Consumers’ Expectations about their Financial Situations Continued to Improve in February
March 13, 2018 / Source: New York Fed
PRESS RELEASE Consumers’ Expectations about their Financial Situations Continued to Improve in February March 12, 2018 NEW YORK— The Federal Reserve Bank of New York's Center for Microeconomic Data released the February 2018 Survey of Consumer Expectations, which shows a slight increase in short- and medium- term inflation expectations. Consumers' expectations about their personal financial situations…
CitiMortgage, Inc., O’Fallon, MO, Improperly Filed for FHA-HAMP Partial Claims…
March 13, 2018 / Source: US Department of Housing and Urban Development - Office of Inspector General
CitiMortgage, Inc., O’Fallon, MO, Improperly Filed for FHA-HAMP Partial Claims Before Completing the Loan Modifications and Reinstating the Loans 03/08/2018 10:21 AM EST The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited CitiMortgage’s processing of partial claims. Our audit objective was to determine whether CitiMortgage filed for partial claims only…
FSB publishes Supplementary Guidance to the FSB Principles and Standards on Sound Compensation Pract
March 12, 2018 / Source: FSB
FSB publishes Supplementary Guidance to the FSB Principles and Standards on Sound Compensation Practices 9 March 2018 Press enquiries: +41 61 280 8138 [email protected] Ref no: 7/2018 The Financial Stability Board (FSB) today published the final version of its Supplementary Guidance to theFSB Principles and Standards on Sound Compensation Practices following a public consultation launched in June…
Securing Your Personal Financial Information
March 12, 2018 / Source: Financial Services Committee
Press Releases Securing Your Personal Financial Information Washington, March 7, 2018 – The Subcommittee on Financial Institutions and Consumer Credit held a hearing today to discuss two legislative proposals, the “Data Acquisition and Technology Accountability and Security Act” and the “Promoting Responsible Oversight of Transaction and Examinations of Credit Technology (PROTECT) Act of 2017.” These important…
More than 9,000 Third-Party Senders Have Been Registered with NACHA as of March 1 Deadline
March 9, 2018 / Source: NACHA
More than 9,000 Third-Party Senders Have Been Registered with NACHA as of March 1 Deadline NACHA Rule supports understanding and identification of Third-Party Sender relationships by ODFIs HERNDON, Va., The Electronic Payments Association® reported that banks and credit unions have registered 9,403 Third-Party Senders as of the March 1, 2018 deadline, resulting from NACHA’s Third-Party Sender…
Federal Reserve Board announces it will not object to the capital plan resubmitted by Capital One
March 9, 2018 / Source: FRB
Press Release March 09, 2018 Federal Reserve Board announces it will not object to the capital plan resubmitted by Capital One Financial Corporation For release at 9:15 a.m. EST The Federal Reserve Board announced on Friday that it will not object to the capital plan resubmitted by Capital One Financial Corporation, as a result of…
Back to Basics Reg CC Funds Availability Webinar is Now Available!
March 8, 2018 / Source:
Back to Basics Reg CC Funds Availability Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy
March 8, 2018 / Source: CFPB
CFPB Issues Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy MAR 08, 2018 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a final rule to help mortgage servicers communicate with certain borrowers facing bankruptcy. The final rule gives mortgage servicers more latitude in providing periodic statements to consumers entering…