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FDIC Extends Comment Period Related to its Request for Information on the Deposit Insurance Application Process
February 13, 2019 / Source: FDIC
Press Releases FDIC Extends Comment Period Related to its Request for Information on the Deposit Insurance Application Process FOR IMMEDIATE RELEASE February 12, 2019 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) has extended the comment period related to the Request for Information (RFI) on the Deposit Insurance Application…
Joint Release: New Rule Covers Private Flood Insurance
February 12, 2019 / Source: OCC
Joint Release Board of Governors of the Federal Reserve System Farm Credit Administration Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency NR 2019-15 FOR IMMEDIATE RELEASE February 12, 2019 New Rule Covers Private Flood Insurance WASHINGTON—Five federal regulatory agencies issued a joint final rule to implement provisions of…
OCC Hosts Compliance and Operational Risk Workshops in Milwaukee
February 12, 2019 / Source: OCC
NR 2019-16 FOR IMMEDIATE RELEASE February 12, 2019 Contact: Stephanie Collins (202) 649-6870 OCC Hosts Compliance and Operational Risk Workshops in Milwaukee WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops in Milwaukee, Wisconsin, at the Hilton Garden Inn Milwaukee Downtown, March 26 and 27, for directors of national…
Consumer Financial Protection Bureau Releases Notices of Proposed Rulemaking on Payday Lending
February 11, 2019 / Source: CFPB
Consumer Financial Protection Bureau Releases Notices of Proposed Rulemaking on Payday Lending FEB 06, 2019 Washington, D.C. — The Consumer Financial Protection Bureau today is proposing to rescind certain provisions of its 2017 final rule governing “Payday, Vehicle Title, and Certain High-Cost Installment Loans.” Specifically, the Bureau is proposing to rescind the rule’s requirements that lenders…
Comptroller of the Currency Supports CFPB Proposed Rule on Short-Term Small-Dollar Lending
February 11, 2019 / Source: OCC
NR 2019-14 FOR IMMEDIATE RELEASE February 11, 2019 Contact: Bryan Hubbard (202) 649-6870 Comptroller of the Currency Supports CFPB Proposed Rule on Short-Term Small-Dollar Lending WASHINGTON—Comptroller of the Currency Joseph Otting today issued the following statement supporting Director Kathy Kraninger and the Consumer Financial Protection Bureau’s proposed rule rescinding requirements that lenders make certain underwriting determinations before…
New protections for servicemembers and veterans alert
February 8, 2019 / Source: CFPB
New protections for servicemembers and veterans alert Free credit monitoring, medical debt credit reporting restrictions, and mortgage protections for those recently back from active duty. By Patrick Campbell and Brian Lavin – FEB 07, 2019 In May 2018, new protections for servicemembers and veterans were signed into law. The Federal Trade Commission (FTC) and the Bureau previously highlighted the new federal…
Community Bank Leverage Ratio: Notice of Proposed Rulemaking
February 8, 2019 / Source: OCC
OCC BULLETIN 2019-6 Subject: Community Bank Leverage Ratio Date: February 8, 2019 To: Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Notice of Proposed Rulemaking Summary The Office of the Comptroller of the Currency (OCC), the Board of Governors of the…
Federal Reserve Board issues enforcement action with former employee of SunTrust Bank
February 7, 2019 / Source: FRB
Press Release February 07, 2019 Federal Reserve Board issues enforcement action with former employee of SunTrust Bank For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent Prohibition against Alison Keefe, former employee of SunTrust Bank, Atlanta, Georgia, for violating bank overdraft…
South Florida Resident Convicted of $100 Million International Fraud Scheme that Led to Collapse of One of Puerto Rico’s Largest Banks
February 7, 2019 / Source: FDICIG
PRESS RELEASE FOR IMMEDIATE RELEASE Tuesday, February 5, 2019 South Florida Resident Convicted of $100 Million International Fraud Scheme that Led to Collapse of One of Puerto Rico’s Largest Banks A Key Biscayne, Florida resident was found guilty yesterday by a federal jury for his role in a $100 million scheme to defraud Westernbank of…
OCC Releases Dodd-Frank Act Stress Test Scenarios for 2019
February 6, 2019 / Source: OCC
NR 2019-13 FOR IMMEDIATE RELEASE February 5, 2019 Contact: William Grassano (202) 649-6870 OCC Releases Dodd-Frank Act Stress Test Scenarios for 2019 WASHINGTON—The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions. The supervisory scenarios include baseline, adverse, and severely…
Federal Reserve Board releases scenarios for 2019 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises
February 6, 2019 / Source: FRB
Press Release February 05, 2019 Federal Reserve Board releases scenarios for 2019 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises For release at 4:30 p.m. EST Share The Federal Reserve Board on Tuesday released the scenarios banks and supervisors will use for the 2019 Comprehensive Capital Analysis and Review (CCAR) and…
Proposed Rulemaking to Revise the Deposit Insurance Assessment System to Apply the Community Bank Leverage Ratio Framework
February 6, 2019 / Source: FDIC
Financial Institution Letters FIL-6-2019 February 5, 2019 Proposed Rulemaking to Revise the Deposit Insurance Assessment System to Apply the Community Bank Leverage Ratio Framework Printable Format: FIL-6-2019 – PDF (PDF Help) Summary: On December 18, 2018, the FDIC Board of Directors authorized publication of a Notice of Proposed Rulemaking (NPR) that would apply the Community Bank…
Federal Reserve Board issues enforcement action with former chairman of Mariner’s Bancorp
February 5, 2019 / Source: FRB
Press Release February 05, 2019 Federal Reserve Board issues enforcement action with former chairman of Mariner's Bancorp For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent Notice of Suspension and Prohibition against Fred Daibes, former Chairman of Mariner's Bancorp, Edgewater, New…
FDIC Press Release – PR-5-2019: FDIC Issues List of Banks Examined for CRA Compliance
February 5, 2019 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE February 5, 2019 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…
Voluntary Private Education Loan Rehabilitation Programs
February 4, 2019 / Source: FDIC
Financial Institution Letters FIL-5-2019 February 4, 2019 Voluntary Private Education Loan Rehabilitation Programs Printable Format: FIL-5-2019 – PDF (PDF Help) Summary: The FDIC and the Board of Governors of the Federal Reserve System jointly are providing an advisory on Voluntary Private Education Loan Rehabilitation Programs to make financial institutions aware of an amendment to section 623 of the…
Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules: Notice of Proposed Rulemaking
February 4, 2019 / Source: OCC
OCC BULLETIN 2019-5 Subject: Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules Date: February 4, 2019 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: Notice of…
Consumer Financial Protection Bureau Settles with NDG Financial Corp.
February 1, 2019 / Source: CFPB
Consumer Financial Protection Bureau Settles with NDG Financial Corp. Canadian and Maltese-based Payday Lenders Alleged to Have Deceptively and Unfairly Marketed and Collected on Loans, Barred From Lending to U.S. Residents FEB 01, 2019 SHARE THIS Share on Facebook Share on Twitter Share on LinkedIn Share on email Washington, D.C. — The Consumer Financial Protection Bureau…
OCC Releases CRA Evaluations for 48 National Banks and Federal Savings Associations
February 1, 2019 / Source: OCC
NR 2019-11 FOR IMMEDIATE RELEASE February 1, 2019 Contact: (202) 649-6870 OCC Releases CRA Evaluations for 48 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 January 1, 2019…
OCC Allows National Banks and Federal Savings Associations Affected by Severe Winter Weather to Close
January 31, 2019 / Source: OCC
NR 2019-10 FOR IMMEDIATE RELEASE January 30, 2019 Contact: William Grassano (202) 649-6870 OCC Allows National Banks and Federal Savings Associations Affected by Severe Winter Weather to Close WASHINGTON — The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of…
FILs Banker Webinar: Update on the Standardized Export of Imaged Loan Documents Initiative
January 31, 2019 / Source: FDIC
Financial Institution Letters FIL-4-2019 January 31, 2019 Banker Webinar: Update on the Standardized Export of Imaged Loan Documents Initiative Printable Format: FIL-4-2019 – PDF (PDF Help) Summary: The FDIC is hosting a webinar for financial institutions on February 19, 2019, from 2:00 p.m. to 3:00 p.m. Eastern Time. This webinar will provide an update on the…
Federal Open Market Committee reaffirms its “Statement on Longer-Run Goals and Monetary Policy Strategy”
January 30, 2019 / Source: FRB
Press Release January 30, 2019 Federal Open Market Committee reaffirms its “Statement on Longer-Run Goals and Monetary Policy Strategy” For release at 2:00 p.m. EST Share The Federal Open Market Committee, at its annual organizational meeting this week, unanimously reaffirmed its “Statement of Longer-Run Goals and Monetary Policy Strategy” with an updated reference to the…
January 30, 2019 Federal Reserve issues FOMC statement
January 30, 2019 / Source: FRB
Press Release January 30, 2019 Federal Reserve issues FOMC statement For release at 2:00 p.m. EST Share Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Job gains have been strong, on average,…
Robust ACH Network Growth Continues in Fourth Quarter; Same Day ACH Volume Marks a Milestone
January 29, 2019 / Source: NACHA
Robust ACH Network Growth Continues in Fourth Quarter; Same Day ACH Volume Marks a Milestone POSTED JANUARY 29, 2019 HERNDON, Va., Jan. 29, 2019 – ACH Network volume saw its biggest quarterly growth in more than a decade during the fourth quarter of 2018. Same Day ACH payments also passed a significant milestone. More than…
Agencies issue final rules giving FIs more flexibility in flood insurance acceptance
January 29, 2019 / Source: Regulatory Report
Agencies issue final rules giving FIs more flexibility in flood insurance acceptance January 29, 2019 FDIC, NCUA, OCC, The Fed 0 Final rules requiring financial institutions to accept flood insurance policies that meet the statutory definition of “private flood insurance” – and to allow financial institutions to exercise their own discretion in accepting other plans, including those by mutual aid…
CFPB Announces Changes to Senior Leadership
January 28, 2019 / Source: CFPB
CFPB Announces Changes to Senior Leadership JAN 25, 2019 SHARE THIS Share on Facebook Share on Twitter Share on LinkedIn Washington, D.C. — Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced leadership changes within the Bureau. The positions being announced today are: Policy Associate Director for External Affairs; West Regional Director; Acting Chief Communications Officer; Deputy Associate Director…