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Back to Basics Flood Insurable Value Webinar is Now Available!
April 4, 2018 / Source:
Back to Basics Flood Insurable Value Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here
Treasury Releases Community Reinvestment Act Modernization Recommendations
April 4, 2018 / Source: Department of Treasury
PRESS RELEASES Treasury Releases Community Reinvestment Act Modernization Recommendations APRIL 3, 2018 Washington – Today the U.S. Department of the Treasury released recommendations to modernize the Community Reinvestment Act (CRA). The recommendations were issued to the primary CRA regulators, the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance…
FinCEN Updates: Frequently Asked Questions Regarding Customer Due Diligence Requirements
April 4, 2018 / Source: FinCEN
Frequently Asked Questions Regarding Customer Due Diligence Requirements for Financial Institutions The Financial Crimes Enforcement Network (FinCEN) is issuing Frequently Asked Questions to assist covered financial institutions in understanding the scope of the Customer Due Diligence Requirements for Financial Institutions, (the CDD Rule) published on May 11, 2016. Previously, on July 19, 2016, FinCEN published…
CFPB Issues Semi-Annual Report
April 3, 2018 / Source: CFPB
CFPB Issues Semi-Annual Report Acting Director Mulvaney Recommends Statutory Changes in His First Report to Congress APR 02, 2018 WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (Bureau) released its semi-annual report highlighting the Bureau’s work. This is the first report issued by Acting Director Mick Mulvaney and it includes his four recommendations for statutory…
Final rule to exempt commercial real estate transactions of $500,000 or less from appraisal…
April 3, 2018 / Source: FRB
Joint Press Release April 02, 2018 Federal banking agencies issue final rule to exempt commercial real estate transactions of $500,000 or less from appraisal requirements Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 2:00 p.m. EDT The Board of Governors of…
FDIC Makes Public February Enforcement Actions
April 2, 2018 / Source: FDIC
Press Releases FDIC Makes Public February Enforcement Actions; No Administrative Hearings Scheduled for April 2018 FOR IMMEDIATE RELEASE March 30, 2018 Media contact: LaJuan Williams-Young 202-898-3876 (office) [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals. There are no administrative hearings scheduled…
Banking Agencies Finalize Revisions to Streamline the Call Report
April 2, 2018 / Source: FFIEC
Press Releases Press Release For Immediate Release March 30, 2018 Banking Agencies Finalize Revisions to Streamline the Call Report The three federal banking agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), are finalizing revisions to streamline the “Call Report” as part of their efforts to reduce data reporting and other burdens for…
FHFA Report Details Progress on the 2017 Scorecard for Fannie Mae and Freddie Mac
March 30, 2018 / Source: FHFA
FHFA Report Details Progress on the 2017 Scorecard for Fannie Mae and Freddie Mac FOR IMMEDIATE RELEASE 3/29/2018 Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2017 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA's three strategic objectives as conservator: Maintain, Reduce, and Build….
Federal Reserve to study payments fraud and security vulnerabilities
March 30, 2018 / Source: FRB
Press Release March 29, 2018 Federal Reserve to study payments fraud and security vulnerabilities For release at 1:00 p.m. EDT The Federal Reserve announced today that work will begin this month on a new study that will measure fraud and associated costs in the U.S. payments system and identify the causes and contributing factors to…
FDIC Announces Settlement with Cross River Bank, Teaneck, New Jersey, and Freedom Financia…
March 29, 2018 / Source: FDIC
Press Releases FDIC Announces Settlement with Cross River Bank, Teaneck, New Jersey, and Freedom Financial Asset Management, LLC, San Mateo, California, for Unfair and Deceptive Practices Settlement awards restitution to harmed consumers and requires the bank to provide increased oversight of third-party providers FOR IMMEDIATE RELEASE March 28, 2018 Media contact: David Barr (202) 898-6992…
CFPB Issues Request For Information On Its Guidance and Implementation Support
March 29, 2018 / Source: CFPB
CFPB Issues Request For Information On Its Guidance and Implementation Support MAR 28, 2018 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) on the Bureau’s guidance and implementation support. The Bureau is seeking comments and information from interested parties to assist in assessing the overall effectiveness and…
FTC Files Comment to CFPB on CID Processes
March 28, 2018 / Source: FTC
FTC Files Comment to CFPB on CID Processes The Federal Trade Commission’s Bureau of Consumer Protection (BCP) has filed a comment to the Bureau of Consumer Financial Protection in response to that agency’s request for information to help it assess the process it uses to issue Civil Investigative Demands (CIDs). CIDs are a key tool in investigating…
PRs FDIC Announces Retirement of Barbara A. Ryan, Deputy to the Chairman and Chief Operating O…
March 28, 2018 / Source: FDIC
Press Releases FDIC Announces Retirement of Barbara A. Ryan, Deputy to the Chairman and Chief Operating Officer/Chief of Staff FOR IMMEDIATE RELEASE March 27, 2018 Media contact: David Barr (202) 898-6992 [email protected] Barbara A. Ryan, Deputy to the Chairman and Chief Operating Officer/Chief of Staff, has announced that she will retire from the Federal Deposit…
Call for nominations: Academic expert for infrastructure investment finance study
March 27, 2018 / Source: FSB
Call for nominations: Academic expert for infrastructure investment finance study Available as: PDF 26 March 2018 Call for nominations Appointment as academic expert to the FSB evaluation of the effects of financial reforms on the financing of infrastructure investment The Financial Stability Board (FSB) is undertaking an evaluation of the effects of the post-crisis G20 regulatory…
FRB announces it is seeking to fine, permanently bar 2 former Regions Bank employees
March 27, 2018 / Source: FRB
Press Release March 26, 2018 Federal Reserve Board announces it is seeking to fine, permanently bar 2 former Regions Bank employees from banking industry For release at 2:30 p.m. EDT The Federal Reserve Board on Monday announced that it is seeking to permanently bar Nathaniel Frazier and Jeffrey Garrison, former employees of Regions Bank, Birmingham,…
Federal Reserve System publishes annual financial statements
March 26, 2018 / Source: FRB
Press Release March 23, 2018 Federal Reserve System publishes annual financial statements For release at 12:00 p.m. EDT The Federal Reserve System on Friday released the 2017 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. An independent…
OCC Reports Fourth Quarter 2017 Bank Trading Revenue
March 26, 2018 / Source: OCC
NR 2018-30 FOR IMMEDIATE RELEASE March 23, 2018 Contact: William Grassano (202) 649-6870 OCC Reports Fourth Quarter 2017 Bank Trading Revenue WASHINGTON — The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $5 billion in the fourth quarter 2017, $1.4 billion, or 21.2…
FFIEC Provides Update on Examination Modernization Project
March 23, 2018 / Source: FDIC
Financial Institution Letters FIL-11-2018 March 22, 2018 FFIEC Provides Update on Examination Modernization Project Printable Format: FIL-11-2018 – PDF (PDF Help) Summary: The Federal Financial Institutions Examination Council (FFIEC) has announced an update on the status of its Examination Modernization Project. The objective of the project is to identify and assess ways to improve the community…
CFPB Issues Request For Information On Inherited Regulations and Inherited Rulemaking Authorities
March 23, 2018 / Source: CFPB
CFPB Issues Request For Information On Inherited Regulations and Inherited Rulemaking Authorities MAR 22, 2018 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) on the Bureau’s inherited regulations and inherited rulemaking authorities. The Bureau is seeking comments and information from interested parties to assist the Bureau in considering…
Federal Reserve issues FOMC statement
March 22, 2018 / Source: FRB
Press Release March 21, 2018 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in January 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 in recent months,…
Fair Debt Collection Practices Act Annual Report 2018
March 22, 2018 / Source: CFPB
To Congress Fair Debt Collection Practices Act Annual Report 2018 MAR 20, 2018 The Bureau is pleased to submit to Congress its seventh annual report summarizing its activities, along with those of the Federal Trade Commission (FTC), to administer the Fair Debt Collection Practices Act (“FDCPA”). This year’s report describes activities conducted by the Bureau…
CFPB is accepting applications for our Advisory Board and Councils (ABC)
March 21, 2018 / Source: CFPB
We are accepting applications for our Advisory Board and Councils (ABC) By Delicia Hand – MAR 19, 2018 To be sure that we hear from a variety of experts with diverse viewpoints, we set up the Consumer Advisory Board, the Community Bank Advisory Council, and the Credit Union Advisory Council. These advisory groups provide us with information…
CFPB And FTC Partner To Report On 2017 Activities To Combat Illegal Debt Collection Practices
March 21, 2018 / Source: CFPB
CFPB And FTC Partner To Report On 2017 Activities To Combat Illegal Debt Collection Practices Report Provides Annual Summary of Actions Under the Fair Debt Collection Practices Act MAR 20, 2018 WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (Bureau) issued a report on the 2017 activities of the Bureau and the Federal Trade Commission…
Court Limits 2015 Text Marketing Rules, Gives New FCC an Opportunity to Provide Clarity
March 20, 2018 / Source: JDSUPRA
Baker Hostetler On March 16, the D.C. Circuit issued a long-awaited decision in a challenge to the Federal Communications Commission’s July 10, 2015 Declaratory Ruling and Order regarding the Telephone Consumer Protection Act (the July 2015 Order). We have previously explained the challenges created by the July 2015 Order here and here. On the whole, the unanimous 3-0 Decision offers some good news…
Fifth Circuit Vacates Controversial DOL Fiduciary Rule
March 20, 2018 / Source: LEXOLOGY
McGuireWoods LLP- Alexander Martin Madrid On March 15, the U.S. Court of Appeals for the Fifth Circuit issued a decision vacating the Department of Labor’s Fiduciary Rule, the controversial measure requiring brokers and other financial professionals to adopt a “best interest” standard for their clients with ERISA or IRA accounts. The decision in Chamber of Commerce v….