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Former Austin Capital One Bank Employee Sentenced to Federal Prison for Stealing over One Million Dollars from Customer
September 25, 2019 / Source: FDICOIG
FOR IMMEDIATE RELEASE Thursday, September 19, 2019 Former Austin Bank Employee Sentenced to Federal Prison for Stealing over One Million Dollars from Customer In Austin today, a federal judge sentenced 40–year-old former Austin Capital One bank employee Paola Gallego of Round Rock, TX, to five years in federal prison for stealing over $1 million from…
OCC Reports Second Quarter 2019 Bank Trading Revenue
September 24, 2019 / Source: OCC
News Release 2019-107 | September 24, 2019 OCC Reports Second Quarter 2019 Bank Trading Revenue SHARE THIS PAGE: · WASHINGTON — The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $8.0 billion in the second quarter 2019, which was $2.0 billion, or 19.8 percent, less…
FIL: Listening Sessions on Supervisory Appeals and Dispute Resolution Processes
September 24, 2019 / Source: FDIC
Financial Institution Letters FIL-52-2019 September 24, 2019 Listening Sessions on Supervisory Appeals and Dispute Resolution Processes Printable Format: FIL-52-2019 – PDF (PDF Help) Summary: As part of the FDIC's “Trust through Transparency” initiative, the agency will host a series of listening sessions regarding its supervisory appeals and dispute resolution processes for FDIC-supervised financial institutions. The sessions…
FDIC’s Office of the Ombudsman Publishes Its 2018 Annual Report
September 23, 2019 / Source: FDIC
Press Releases FDIC's Office of the Ombudsman Publishes Its 2018 Annual Report FOR IMMEDIATE RELEASE September 23, 2019 Media Contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation's (FDIC) Office of the Ombudsman, an independent, neutral and confidential liaison between the agency and its stakeholders, published its 2018 Annual Report outlining the office's…
Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Consumers National Bank, Minerva, Ohio
September 23, 2019 / Source: OCC
Alert 2019-8| September 20, 2019 Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Consumers National Bank, Minerva, Ohio SHARE THIS PAGE: · To Chief Executive Officers of All National Banks and Federal Savings Associations; All State Banking Authorities; Chair, Board of Governors of the Federal Reserve System; Chair, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy…
Tupelo Loan Officer Sentenced for Bank Fraud
September 20, 2019 / Source: FDICOIG
FOR IMMEDIATE RELEASE Friday, September 13, 2019 Tupelo Loan Officer Sentenced for Bank Fraud OXFORD, Miss. – A Tupelo bank officer and his co-defendant were sentenced today by U.S. District Judge Debra M. Brown in federal court in Greenville, Mississippi for bank fraud. Both had previously pled guilty before Judge Brown to one count of…
Federal Reserve Board announces termination of enforcement action with Optimumbank Holdings, Inc.
September 20, 2019 / Source: FRB
Press Release September 19, 2019 Federal Reserve Board announces termination of enforcement action with Optimumbank Holdings, Inc. For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Optimumbank Holdings, Inc., Ft. Lauderdale, Florida Written Agreement, dated June 22, 2010 Terminated September 11, 2019…
Changes to the FDIC’s Post-Examination Survey Process
September 20, 2019 / Source: FDIC
Financial Institution Letters FIL-50-2019 September 19, 2019 Changes to the FDIC's Post-Examination Survey Process Printable Format: FIL-50-2019 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation (FDIC) is notifying FDIC-supervised financial institutions (banks) that the Office of the Ombudsman — which is independent of the supervisory process, reports directly to the FDIC Chairman's office, and…
News Release 2019-106 | September 19, 2019: OCC Enforcement Actions and Terminations
September 19, 2019 / Source: OCC
News Release 2019-106 | September 19, 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…
CFPB and FTC to Host December Workshop on Accuracy in Consumer Reporting
September 19, 2019 / Source: CFPB
CFPB and FTC to Host December Workshop on Accuracy in Consumer Reporting SEP 19, 2019 The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). will host a public workshop on December 10, 2019 to discuss issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports. Since the FTC…
Consumer Financial Protection Bureau to Enhance Consumer Complaint Database
September 18, 2019 / Source: CFPB
Consumer Financial Protection Bureau to Enhance Consumer Complaint Database SEP 18, 2019 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) announced that it will continue the publication of consumer complaints, data fields and narrative descriptions through the Bureau’s Consumer Complaint Database while making several enhancements to the information available to users of the database….
CDFI Fund Awards $25 Million to Banks that Increased Investments in Severely Distressed Communities
September 18, 2019 / Source: CDFI
CDFI Fund Awards $25 Million to Banks that Increased Investments in Severely Distressed Communities Tuesday, September 17, 2019 Over Half Billion Dollars has now been awarded through the Bank Enterprise Awards Program Washington, DC – Today, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced over $25.2 million in awards to…
FDIC Finalizes Rules to Simplify Capital Calculation for Qualifying Community Banking Organizations and to Early Adopt Certain Related Simplifications to the Regulatory Capital Requirements
September 17, 2019 / Source: FDIC
Press Releases FDIC Finalizes Rules to Simplify Capital Calculation for Qualifying Community Banking Organizations and to Early Adopt Certain Related Simplifications to the Regulatory Capital Requirements FOR IMMEDIATE RELEASE September 17, 2019 Media Contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The FDIC today finalized a rule that introduces an optional simplified measure of capital adequacy…
New report explores the relationship between Financial Well-Being and the contents of and engagement with credit reports
September 17, 2019 / Source: CFPB
New report explores the relationship between Financial Well-Being and the contents of and engagement with credit reports By Éva Nagypál and Jeremy Tobacman – SEP 17, 2019 Today the Consumer Financial Protection Bureau (Bureau) released an Innovation Insight report which describes a first of its kind study exploring the relationship between subjective financial well-being and objective credit report characteristics and consumers’ engagement…
Appraisals: Appraisal Management Company Registration Requirements
September 16, 2019 / Source: OCC
OCC Bulletin 2019-43| September 16, 2019 Appraisals: Appraisal Management Company Registration Requirements SHARE THIS PAGE: · To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; All Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) is issuing this…
FHFA Revises Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac
September 16, 2019 / Source: FHFA
News Release FHFA Revises Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac FOR IMMEDIATE RELEASE 9/13/2019 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced a revised cap structure on the multifamily businesses of Fannie Mae and Freddie Mac (the Enterprises). The new multifamily loan purchase caps will be $100 billion for…
Supervisory Highlights, Issue No. 19 (Summer 2019)
September 13, 2019 / Source: CFPB
Supervisory Highlights Supervisory Highlights, Issue No. 19 (Summer 2019) In this issue of Supervisory Highlights, we report examination findings in the areas of automobile loan origination, credit card account management, debt collection, furnishing, and mortgage origination that were generally completed between December 2018 and March 2019 (unless otherwise stated). The report does not impose any new…
September 13, 2019: FDIC Releases Results of Summary of Deposits Annual Survey
September 13, 2019 / Source: FDIC
Press Releases FDIC Releases Results of Summary of Deposits Annual Survey FOR IMMEDIATE RELEASE September 13, 2019 Media Contact: David Barr (202) 898-6992 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2019. The FDIC's Summary of Deposits (SOD) provides…
281 Arrested Worldwide in Coordinated International Enforcement Operation Targeting Hundreds of Individuals in Business Email Compromise Schemes
September 12, 2019 / Source: DOJ
JUSTICE NEWS Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, September 10, 2019 281 Arrested Worldwide in Coordinated International Enforcement Operation Targeting Hundreds of Individuals in Business Email Compromise Schemes 74 Alleged Fraudsters Arrested in the United States Federal authorities announced today a significant coordinated effort to disrupt Business Email…
Nacha Statement on Unauthorized ACH Reversals
September 12, 2019 / Source: NACHA
Nacha Statement on Unauthorized ACH Reversals POSTED ON September 10, 2019 Nacha advises individuals that think they have been negatively impacted by MyPayRollHR.com to notify and file an unauthorized ACH transaction form with their bank or credit union. Reversing a valid payroll deposit is not permitted under the Nacha Rules that govern the ACH Network….
Federal Reserve Board announces approval of application by Vista Bank
September 11, 2019 / Source: FRB
Press Release September 11, 2019 Federal Reserve Board announces approval of application by Vista Bank For release at 12:00 p.m. EDT Share The Federal Reserve Board on Wednesday announced its approval of the application under section 9 of the Federal Reserve Act by Vista Bank, Ralls, Texas, to establish a branch at 5840 West Northwest…
Comptroller of the Currency Discusses Community Reinvestment Act, Honored for his Philanthropy
September 11, 2019 / Source: OCC
Comptroller of the Currency Discusses Community Reinvestment Act, Honored for his Philanthropy SHARE THIS PAGE: · SANTA ANA, Calif.—Comptroller of the Currency Joseph Otting today discussed community reinvestment and economic opportunity during remarks at the 2019 Illumination Reception hosted by the Oasis Center International, in Santa Ana, Calif. During his comments, Comptroller Otting highlighted how…
CFPB and State Regulators Launch American Consumer Financial Innovation Network
September 10, 2019 / Source: CFPB
CFPB and State Regulators Launch American Consumer Financial Innovation Network SEP 10, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau), working in partnership with multiple state regulators, launched the American Consumer Financial Innovation Network (ACFIN), a network to enhance coordination among federal and state regulators to facilitate financial innovation. The Bureau invited all state…
CFPB Issues Policies to Facilitate Compliance and Promote Innovation
September 10, 2019 / Source: CFPB
CFPB Issues Policies to Facilitate Compliance and Promote Innovation First No-Action Letter Issued to HUD Housing Counseling Agencies SEP 10, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued three new policies to promote innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and Compliance Assistance Sandbox (CAS)…
Request for Comments on Interest Rate Restrictions Applicable to Institutions That Are Less Than Well Capitalized
September 10, 2019 / Source: FDIC
Financial Institution Letters FIL-49-2019 September 9, 2019 Request for Comments on Interest Rate Restrictions Applicable to Institutions That Are Less Than Well Capitalized Printable Format: FIL-49-2019 – PDF (PDF Help) Summary: The FDIC has issued a Notice of Proposed Rulemaking (NPR) seeking comment on proposed revisions to its regulations on interest rate restrictions that apply to…