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FinCEN Director’s Law Enforcement Awards Program Recognizes Significance of BSA Reporting
May 9, 2018 / Source: FinCEN
FinCEN Director’s Law Enforcement Awards Program Recognizes Significance of BSA Reporting by Financial Institutions Contact Steve Hudak, 703-905-3770 Immediate Release May 08, 2018 WASHINGTON— In a ceremony held at the U.S. Department of the Treasury today, the Financial Crimes Enforcement Network (FinCEN) recognized the outstanding efforts of law enforcement agencies that successfully used Bank Secrecy…
Federal Reserve Board welcomes release of global strategy for reducing wholesale payments fraud
May 8, 2018 / Source: FRB
Press Release May 08, 2018 Federal Reserve Board welcomes release of global strategy for reducing wholesale payments fraud For release at 10:00 a.m. EDT The Federal Reserve Board on Tuesday welcomed the release of a global strategy for reducing wholesale payments fraud and reaffirms its commitment to work collaboratively with domestic and international stakeholders to…
FFIEC Announces Availability of 2017 Data on Mortgage Lending
May 8, 2018 / Source: CFPB
FFIEC Announces Availability of 2017 Data on Mortgage Lending MAY 07, 2018 The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today…
FILs Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Area…
May 7, 2018 / Source: FDIC
Financial Institution Letters FIL-24-2018 May 4, 2018 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Severe Storms and Tornadoes Printable Format: FIL-24-2018 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of…
Banker Teleconference: Implementation and Transition of the Current Expected Credit Losses…
May 7, 2018 / Source: FDIC
Financial Institution Letters FIL-23-2018 May 4, 2018 Banker Teleconference: Implementation and Transition of the Current Expected Credit Losses (CECL) Methodology for Allowances and Related Adjustments to the Regulatory Capital Rules and Conforming Amendments to Other Regulations Printable Format: FIL-23-2018 – PDF (PDF Help) Summary: The FDIC, the Office of the Comptroller of the Currency (OCC), and the…
Back2Basics Reg. DD – Disclosures & Advertisements Webinar is Now Available!
May 4, 2018 / Source:
Back2Basics Reg. DD – Disclosures & Advertisements Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
PHH Walks Away From High Court Appeal On CFPB Constitutionality
May 4, 2018 / Source: PYMNTS
PHH Corporation has decided not to appeal a case that questioned the constitutionality of the Consumer Financial Protection Bureau (CFPB). According to American Banker, this ends a contentious four-year legal battle. Back in 2014, an administrative law judge ruled that PHH’s reinsurance agreements violated the Real Estate Settlement Procedures Act’s ban on kickbacks for referrals. The company was ordered to pay…
FDIC Issues List of Banks Examined for CRA Compliance
May 4, 2018 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE May 4, 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…
Appraisals for Commercial Real Estate Transactions: Final Rule
May 3, 2018 / Source: OCC
OCC BULLETIN 2018-10 Subject: Appraisals for Commercial Real Estate Transactions Date: May 2, 2018 To: Chief Executive Officers of All National Banks and Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Final Rule Summary The Office of the Comptroller of the Currency has adopted a…
Federal Reserve issues FOMC statement
May 3, 2018 / Source: FRB
Press Release May 02, 2018 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in March 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, on average, in…
Federal Reserve Board issues enforcement action and announces termination of enforcement action
April 30, 2018 / Source: FRB
Press Release April 26, 2018 Federal Reserve Board issues enforcement action with Gayle Kendrick and announces termination of enforcement action with Rock Bancshares, Inc. and Heartland Bank For release at 11:00 a.m. EDT The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent prohibition of Gayle Kendrick, former Branch…
FDIC Makes Public March Enforcement Actions
April 30, 2018 / Source: FDIC
Press Releases FDIC Makes Public March Enforcement Actions; No Administrative Hearings Scheduled for May 2018 FOR IMMEDIATE RELEASE April 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 March. There are no administrative…
Recovery Planning: New Comptroller’s Handbook Booklet
April 27, 2018 / Source: OCC
OCC BULLETIN 2018-9 Subject: Recovery Planning Date: April 26, 2018 To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: New Comptroller's Handbook Booklet Summary The Office of the Comptroller of the Currency (OCC) issued today the…
Bureau Finalizes Amendment to “Know Before You Owe” Mortgage Disclosure Rule
April 27, 2018 / Source: CFPB
Bureau of Consumer Financial Protection Finalizes Amendment to “Know Before You Owe” Mortgage Disclosure Rule Update Will Provide More Clarity Regarding Closing Cost Increases APR 26, 2018 WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) finalized an amendment to its “Know Before You Owe” mortgage disclosure rule that addresses when mortgage lenders with…
FTC Seeks Comment on Proposed Amendment to Privacy Act Notices
April 26, 2018 / Source: FTC
FTC Seeks Comment on Proposed Amendment to Privacy Act Notices The Federal Trade Commission is seeking public comment on proposed modifications to its system of records notices under the Privacy Act to ensure the Commission can disclose records to another agency in the event of a data breach. The Privacy Act authorizes federal agencies to…
Federal Reserve Board announces termination of enforcement action
April 26, 2018 / Source: FRB
Press Release April 24, 2018 Federal Reserve Board announces termination of enforcement action with Brickyard Bancorp, Inc. For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: Brickyard Bancorp, Inc., Lincolnwood, Illinois Written Agreement dated May 22, 2003 Terminated April 18, 2018 The enforcement…
Advisory: FDIC Conducting Testing of Standardized Export of Imaged Loan Documents
April 25, 2018 / Source: FDIC
Financial Institution Letters FIL-22-2018 April 24, 2018 Advisory: FDIC Conducting Testing of Standardized Export of Imaged Loan Documents Printable Format: FIL-22-2018 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation (FDIC) is developing and testing a standardized export of imaged loan documents in an effort to streamline examination processes. This initiative is anticipated to improve efficiencies…
Counterfeit Cashier’s Checks of American Bank and Trust Company, NA, Davenport, Iowa
April 25, 2018 / Source: OCC
Alert 2018-4 Subject: Counterfeit Cashier’s Checks Date: April 24, 2018 Description: American Bank and Trust Company, NA Counterfeit Cashier’s Checks of American Bank and Trust Company, NA, Davenport, Iowa 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; Chairman, Federal Deposit…
The FDIC’s Response, Reporting, and Interactions with Congress…
April 24, 2018 / Source: FDICIG
The FDIC’s Response, Reporting, and Interactions with Congress Concerning Information Security Incidents and Breaches On April 16, 2018, the Office of Inspector General (OIG) of the Federal Deposit Insurance Corporation (FDIC) issued a Special Inquiry report in response to a request from the former Chairman of the Senate Committee on Banking, Housing, and Urban Affairs. This…
FHFA House Price Index Up 0.6 Percent in February
April 24, 2018 / Source: FHFA
News Release FHFA House Price Index Up 0.6 Percent in February FOR IMMEDIATE RELEASE 4/24/2018 Washington, D.C. – U.S. house prices rose in February, up 0.6 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.8 percent increase in January was revised upward to…
Former Employee Of New Jersey Bank And Two Others Charged With Stealing Client Information And Funds
April 23, 2018 / Source: FDICIG
PRESS RELEASE Former Employee Of New Jersey Bank And Two Others Charged With Stealing Client Information And Funds FOR IMMEDIATE RELEASE Thursday, April 12, 2018 Antoinette Mitchell-Brown, Seconey Brown, and Anthony Atkinson Attempted to Steal More than $700,000 from Bank’s Clients Geoffrey S. Berman, the United States Attorney for the Southern District of New York,…
Bureau of Consumer Financial Protection Announces Settlement With Wells Fargo
April 23, 2018 / Source: CFPB
Bureau of Consumer Financial Protection Announces Settlement With Wells Fargo For Auto-Loan Administration and Mortgage Practices APR 20, 2018 WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) announced a settlement with Wells Fargo Bank, N.A. in a coordinated action with the Office of the Comptroller of the Currency (OCC). As described in the…
CRA Webinar is Now Available!
April 20, 2018 / Source:
CRA Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
April Compliance Huddle is Now Available
April 20, 2018 / Source:
April 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. April Compliance Huddle 2018
OCC Assesses $500 Million Penalty Against Wells Fargo
April 20, 2018 / Source: OCC
NR 2018-41 FOR IMMEDIATE RELEASE April 20, 2018 Contact: Bryan Hubbard (202) 649-6870 OCC Assesses $500 Million Penalty Against Wells Fargo, Orders Restitution for Unsafe or Unsound Practices WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $500 million civil money penalty against Wells Fargo Bank, N.A., and ordered the bank to…