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Federal Reserve Board issues enforcement action
October 24, 2018 / Source: FRB
Press Release October 23, 2018 Federal Reserve Board issues enforcement action with Joel Shumate For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent prohibition of Joel Shumate, former Senior Vice President of First Iowa State Bank, Keosauqua, Iowa, for engaging in improper…
OCC Assesses $100 Million Civil Money Penalty Against Capital One
October 23, 2018 / Source: OCC
NR 2018-112 FOR IMMEDIATE RELEASE October 23, 2018 Contact: Bryan Hubbard (202) 649-6870 OCC Assesses $100 Million Civil Money Penalty Against Capital One WASHINGTON—The Office of the Comptroller of the Currency (OCC) recently assessed a $100 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. for deficiencies in the bank’s…
Bureau releases Complaint snapshot: 50 state report
October 23, 2018 / Source: CFPB
Bureau releases Complaint snapshot: 50 state report By Chris Johnson – OCT 23, 2018 Every day, people across the country submit complaints to the Bureau of Consumer Financial Protection. The complaints are about a wide variety of consumer financial products and services, from checking accounts to auto loans. Like the states they call home, each person’s complaint is…
Share of U.S. Households without a Bank Account Continues to Drop
October 23, 2018 / Source: FDIC
Press Releases Share of U.S. Households without a Bank Account Continues to Drop Unbanked Rate Declines to 6.5 Percent in 2017 FOR IMMEDIATE RELEASE October 23, 2018 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] For the third consecutive survey period, the number of U.S. households without a bank account fell, according to the results…
Treasury, IRS issue proposed regulations on new Opportunity Zone tax incentive
October 22, 2018 / Source: IRS
Treasury, IRS issue proposed regulations on new Opportunity Zone tax incentive IR-2018-206, October 19, 2018 WASHINGTON —The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment…
Northshore Contractor Pleads Guilty to Conspiracy to Defraud First NBC Bank
October 22, 2018 / Source: FDICIG
PRESS RELEASE FOR IMMEDIATE RELEASE Wednesday, October 17, 2018 Northshore Contractor Pleads Guilty to Conspiracy to Defraud First NBC Bank NEW ORLEANS – The U.S. Attorney’s Office, Eastern District of Louisiana announced that JEFFREY DUNLAP, age 44, a resident of Slidell, Louisiana and owner of Phoenix Civil Contractors (“Phoenix”) pleaded guilty today to one count of conspiracy to…
Cybersecurity Preparedness Resource
October 19, 2018 / Source: FDIC
Financial Institution Letters FIL-63-2018 October 19, 2018 Cybersecurity Preparedness Resource Printable Format: FIL-63-2018 – PDF (PDF Help) Summary: As part of the FDIC's Community Banking Initiative, the agency is adding to its cybersecurity awareness resources for financial institutions. This includes two new vignettes for the Cyber Challenge, which consists of exercises that are intended to encourage discussions…
OCC Enforcement Actions and Terminations for October 2018
October 19, 2018 / Source: OCC
NR 2018-111 FOR IMMEDIATE RELEASE October 19, 2018 Contact: (202) 649-6870 OCC Enforcement Actions and Terminations for October 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….
FFIEC Launches New BSA/AML InfoBase on its Website
October 18, 2018 / Source: FFIEC
FFIEC Launches New BSA/AML InfoBase on its Website October 18, 2018 The Federal Financial Institutions Examination Council (FFIEC) launched the redesigned Bank Secrecy Act/Anti-Money Laundering (BSA/AML) InfoBase website, which is aimed at sharing bank examination procedure information with examiners, financial institutions, the public, and other stakeholders. The FFIEC BSA/AML InfoBase was redesigned to improve the…
CFPB Fall 2018 rulemaking agenda
October 18, 2018 / Source: CFPB
Fall 2018 rulemaking agenda By Kelly Cochran – OCT 17, 2018 The Bureau’s general purpose, as specified in section 1021 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), is to implement and enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products…
Minutes of the Federal Open Market Committee, September 25-26, 2018
October 18, 2018 / Source: FRB
Press Release October 17, 2018 Minutes of the Federal Open Market Committee, September 25-26, 2018 For release at 2:00 p.m. EDT The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 25-26, 2018. A summary of economic projections made by Federal Reserve…
Study finds U.S. payments fraud a small but growing fraction of overall payments
October 17, 2018 / Source: FRB
Press Release October 16, 2018 Federal Reserve Payments Study finds U.S. payments fraud a small but growing fraction of overall payments For release at 2:00 p.m. EDT The value of fraudulent noncash payments in the United States rose significantly between 2012 and 2015–outpacing growth in noncash payments overall, according to a new report based on…
Appraisal Regulations: Frequently Asked Questions
October 17, 2018 / Source: FDIC
Financial Institution Letters FIL-62-2018 October 16, 2018 Appraisal Regulations Frequently Asked Questions Printable Format: FIL-62-2018 – PDF (PDF Help) Summary: The federal banking agencies (the Agencies) are issuing the attached Frequently Asked Questions (FAQs) on appraisal and evaluation functions. This document was developed in response to recent questions about the agencies' real estate appraisal regulations and guidelines…
FDIC Enhances Tool to Prevent Elder Financial Exploitation
October 15, 2018 / Source: FDIC
Press Releases FDIC Enhances Tool to Prevent Elder Financial Exploitation FOR IMMEDIATE RELEASE October 15, 2018 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] En Español The Federal Deposit Insurance Corporation (FDIC) today announced the release of a Spanish-language version of Money Smart for Older Adults. The curriculum, now offered in English and Spanish, has been…
Comptroller’s Handbook: Updated Booklets and Rescissions
October 15, 2018 / Source: OCC
OCC BULLETIN 2018-38 Subject: Comptroller’s Handbook Date: October 15, 2018 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: Updated Booklets and Rescissions Summary The Office of the Comptroller of the Currency (OCC)…
Federal Reserve Board announces approval of applications by Security Trust & Savings Bank
October 13, 2018 / Source: FRB
Press Release October 12, 2018 Federal Reserve Board announces approval of applications by Security Trust & Savings Bank For release at 2:30 p.m. EDT The Federal Reserve Board on Friday announced its approval of the applications, under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act, by Security…
FinCEN Issues Advisory on the Iranian Regime’s Illicit and Malign Activities and Attempts to Exploit
October 13, 2018 / Source: FinCEN
FinCEN Issues Advisory on the Iranian Regime’s Illicit and Malign Activities and Attempts to Exploit the Financial System Contact Steve Hudak 703-905-3770 Immediate Release October 11, 2018 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to help financial institutions better detect and report potentially illicit transactions related to the Islamic Republic of Iran. The…
Margin and Capital Requirements for Covered Swap Entities: Final Rule
October 11, 2018 / Source: OCC
OCC BULLETIN 2018-37 Subject: Margin and Capital Requirements for Covered Swap Entities Date: October 10, 2018 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: Final Rule Summary The Office of the Comptroller…
Joint Release/Federal and State Financial Regulatory Agencies Issue Interagency Statement …
October 11, 2018 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Conference of State Bank Supervisors Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency For Immediate Release October 10, 2018 Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by…
October Compliance Huddle is Now Available!
October 11, 2018 / Source:
October Compliance Huddle is now available to view. A monthly, peer-to-peer forum that is driven by the topics and issues that attendees wish to talk about and explore. October Compliance Huddle is Now Available!
Board of Directors: Year End Approvals & Renewals Webinar is Now Available!
October 11, 2018 / Source:
Board of Directors: Year End Approvals & Renewals Webinar is now available! Find it by going to —> News & Events —> Past Events —> Past Webinars View Webinar Here
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Michael in the…
October 10, 2018 / Source: OCC
NR 2018-109 FOR IMMEDIATE RELEASE October 9, 2018 Contact: William Grassano (202) 649-6870 OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Michael in the Gulf Coast Region to Close WASHINGTON — The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal…
FDIC to Hold 8th Annual Consumer Research Symposium in Arlington, Virginia
October 10, 2018 / Source: FDIC
Press Releases FDIC to Hold 8th Annual Consumer Research Symposium in Arlington, Virginia FOR IMMEDIATE RELEASE October 5, 2018 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) will sponsor its 8th Annual Consumer Research Symposium on October 12, 2018. The conference will feature brief remarks by FDIC Chairman Jelena McWilliams, presentations…
FDIC Issues List of Banks Examined for CRA Compliance
October 5, 2018 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE October 5, 2018 Media contact: Greg Hernandez (202) 898-6984 [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…
OCC to Host Innovation Office Hours in Dallas
October 5, 2018 / Source: OCC
NR 2018-108 FOR IMMEDIATE RELEASE October 4, 2018 Contact: William Grassano (202) 649-6870 OCC to Host Innovation Office Hours in Dallas WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours, November 14-15, 2018, in Dallas, Texas, to promote responsible innovation in the federal banking system….