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FBI Warns of ‘Unlimited’ ATM Cashout Blitz
August 14, 2018 / Source: KrebsonSecurity
The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an “ATM cash-out,” in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few…
Federal Reserve Board announces termination of enforcement actions
August 14, 2018 / Source: FRB
Press Release August 14, 2018 Federal Reserve Board announces termination of enforcement actions with HSBC North America Holdings, Inc., Capital Funding Bancorp, Inc. and CFG Community Bank, and CommerceWest Bank For release at 1:15 p.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: HSBC North America Holdings,…
Regulation P Updated To Implement Legislation Amending Gramm-Leach-Bliley Act
August 13, 2018 / Source: CFPB
Bureau of Consumer Financial Protection Updates Regulation P To Implement Legislation Amending Gramm-Leach-Bliley Act Changes Will Ease Burden on Financial Institutions and Reduce Risk of Consumer Confusion AUG 10, 2018 WASHINGTON, D.C. – The Bureau of Consumer Financial Protection (Bureau) today finalized amendments to implement legislation that allows financial institutions that meet certain requirements to…
FRB fines Citigroup
August 13, 2018 / Source: FRB
Press Release August 10, 2018 Federal Reserve Board fines Citigroup $8.6 million for the improper execution of residential mortgage-related documents and announces termination of 2011 enforcement action For release at 11:00 a.m. EDT The Federal Reserve Board on Friday announced an $8.6 million fine against Citigroup for the improper execution of residential mortgage-related documents. The…
Counterfeit Official Bank Checks of Gate City Bank, Fargo, N.D.
August 13, 2018 / Source: OCC
Alert 2018-10 Subject: Counterfeit Official Bank Checks Date: August 8, 2018 Description: Gate City Bank Counterfeit Official Bank Checks of Gate City Bank, Fargo, N.D. 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…
August Compliance Huddle is Now Available!
August 10, 2018 / Source:
August 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. August Compliance Huddle is Now Available!
Extension of Limited Exception from Beneficial Ownership Requirements
August 8, 2018 / Source: FinCEN
Extension of Limited Exception from Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Rollovers and Renewals Extension_Temp_Exceptive_Relief.pdf65.29 KB Immediate Release August 08, 2018 On May 16, 2018, the Financial Crimes Enforcement Network (FinCEN) issued a 90-day limited exceptive relief to covered financial institutions from the obligations of the Beneficial…
Back2Basics: Reg. Z – Home Equity Webinar is Now Available!
August 8, 2018 / Source:
Back2Basics – Reg. Z – Home Equity Webinar is Now Available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
HMDA Data Publication
August 8, 2018 / Source: FFIEC & CFPB
HMDA Data Publication The HMDA data and reports are the most comprehensive publicly available information on mortgage market activity. The data and reports can be used along with the Censusdemographic information for data analysis purposes. Available below are the data and reports for HMDA data collected in or after 2017. For HMDA data and reports for…
BCFP Collaborates With Regulators Around The World To Create Global Financial Innovation Network
August 8, 2018 / Source: BCFP
BCFP Collaborates With Regulators Around The World To Create Global Financial Innovation Network AUG 07, 2018 WASHINGTON, D.C. – The Bureau of Consumer Financial Protection (BCFP), working in collaboration with 11 financial regulators and related organizations, is announcing an initiative to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more…
Wells Fargo faces tax credit probes, new problems with mortgage borrowers
August 7, 2018 / Source: Reuters
Wells Fargo faces tax credit probes, new problems with mortgage borrowers NEW YORK (Reuters) – Wells Fargo & Co (WFC.N) is facing government probes into its use of low-income housing tax credits, and has also set aside $8 million to compensate borrowers who were incorrectly denied mortgage modifications under a federal assistance program, the bank…
Former CEO And Chief Loan Officer Of Failed Sonoma Valley Bank Sentenced To Multi-Year Prison Terms
August 7, 2018 / Source: FDICIG
PRESS RELEASE FOR IMMEDIATE RELEASE Friday, August 3, 2018 Former CEO And Chief Loan Officer Of Failed Sonoma Valley Bank, And Borrower’s California Attorney, Sentenced To Multi-Year Prison Terms For Bank Fraud And Other Crimes Court Ordered Asset Forfeiture of Defendant’s Interest in Real Estate Worth Approximately $20,800,000 as Proceeds of the Crimes SAN FRANCISCO…
FDIC Issues List of Banks Examined for CRA Compliance
August 3, 2018 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE August 3, 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 Releases CRA Evaluations for 40 National Banks and Federal Savings Associations
August 3, 2018 / Source: OCC
NR 2018-75 FOR IMMEDIATE RELEASE August 2, 2018 Contact: (202) 649-6870 OCC Releases CRA Evaluations for 40 National Banks and Federal Savings Associations WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of July 1, 2018…
Federal Reserve issues FOMC statement
August 2, 2018 / Source: FRB
Press Release PDF August 01, 2018 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on…
The FDIC’s Governance of Information Technology Initiatives
August 2, 2018 / Source: FDICIG
The FDIC’s Governance of Information Technology Initiatives Thursday, July 26, 2018 The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General issued an audit report that highlights challenges and risks facing the FDIC with respect to the governance of its information technology (IT) initiatives. The audit focused on key components of the FDIC’s IT…
Senate Agrees with House to Renew Flood Insurance Program for 4 Months
July 31, 2018 / Source: Insurance Journal
Senate Agrees with House to Renew Flood Insurance Program for 4 Months July 31, 2018 Congress avoided a lapse in the federal flood insurance program when the Senate today voted 86-12 to extend authorization for the program by four months to Nov. 30. The National Flood Insurance Program would have expired at the end of…
OCC Begins Accepting National Bank Charter Applications From Financial Technology Companies
July 31, 2018 / Source: OCC
NR 2018-74 FOR IMMEDIATE RELEASE July 31, 2018 Contact: Bryan Hubbard (202) 649-6870 OCC Begins Accepting National Bank Charter Applications From Financial Technology Companies WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will begin accepting applications for national bank charters from nondepository financial technology (fintech) companies engaged in the…
Business Combinations: Updated Comptroller’s Licensing Manual
July 31, 2018 / Source: OCC
OCC BULLETIN 2018-22 Subject: Business Combinations Date: July 31, 2018 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Updated Comptroller's Licensing Manual Summary On November 14, 2017, the Office of the Comptroller of the Currency (OCC)…
FDIC Makes Public June Enforcement Actions
July 30, 2018 / Source: FDIC
Press Releases FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2018 FOR IMMEDIATE RELEASE July 27, 2018 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in June. There are no administrative…
ACH Network Payment Volume Increases More Than Six Percent in Second Quarter of 2018
July 30, 2018 / Source: NACHA
ACH Network Payment Volume Increases More Than Six Percent in Second Quarter of 2018 POSTED JULY, 25 2018 Same Day ACH Transactions Total Nearly 41 Million Herndon, Va., ACH debit and credit transactions totaled more than 5.7 billion in the second quarter of 2018, a 6.2 percent increase when compared to Q2 2017, according to…
Federal Reserve Board issues enforcement action
July 27, 2018 / Source: FRB
Press Release July 26, 2018 Federal Reserve Board issues enforcement action with Community Trust Bank, Inc. For release at 4:30 p.m. EDT The Federal Reserve Board on Thursday issued a consent order against Community Trust Bank, Inc. of Pikeville, Kentucky, for unfair and deceptive practices, requiring the bank to pay approximately $4.75 million in restitution…
Federal Reserve Board launches Consumer Compliance Supervision Bulletin
July 27, 2018 / Source: FRB
Press Release July 26, 2018 Federal Reserve Board launches Consumer Compliance Supervision Bulletin For release at 4:00 p.m. EDT The Federal Reserve Board on Thursday launched the Consumer Compliance Supervision Bulletin–a new publication that will provide bankers and others interested in consumer protection with high-level summaries of pertinent supervisory issues. The Bulletin complements other Federal Reserve…
House passes flood insurance extension with deadline fast approaching
July 26, 2018 / Source: National Mortgage News
House passes flood insurance extension with deadline fast approaching WASHINGTON —The House passed a four-month extension to the National Flood Insurance Program Tuesday, just one week before the program is set to expire. However, the Senate will need to pass the extension as well. In June, the Senate passed a farm bill that included a…
House Passes Two HSA Bills
July 26, 2018 / Source: NAPA
House Passes Two HSA Bills The U.S. House of Representatives has passed two bills that enhance – and seek to expand the use of health savings accounts. Perhaps more significantly, the bills – H.R. 6199 (115) and H.R. 6311 (115) – passed with some crossover support from Democrats. Restoring Access to Medication and Modernizing Health…