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Federal Reserve Board announces termination of enforcement actions
May 16, 2018 / Source: FRB
Press Release May 15, 2018 Federal Reserve Board announces termination of enforcement actions with Barclays Bank plc and Oklahoma Capital Bank For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: Barclays Bank plc, London, England and Barclays Bank plc, New York Branch, New…
FILs Summary of Deposits Survey: Filing for June 30, 2018
May 16, 2018 / Source: FDIC
Financial Institution Letters FIL-27-2018 May 15, 2018 Summary of Deposits Survey Filing for June 30, 2018 Printable Format: FIL-27-2018 – PDF (PDF Help) Summary: The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices…
Chili’s Hit By Data Breach, Credit And Debit Card Information Compromised
May 15, 2018 / Source: HUFFPOST
Chili’s Hit By Data Breach, Credit And Debit Card Information Compromised The breach is believed to have occurred between March and April. By Jenna Amatulli Chili’s is reporting some less than hot news. The restaurant chain’s parent company, Brinker International, announced last week some outlets were “impacted by a data incident, which may have resulted…
Former Camargo Bank President Sentenced to Prison
May 15, 2018 / Source: FDICIG
PRESS RELEASE FOR IMMEDIATE RELEASE Friday, May 4, 2018 Former Camargo Bank President Sentenced to Prison OKLAHOMA CITY – Former First State Bank of Camargo President STEPHEN GREGORY WARD, 53, of Edmond, Oklahoma, has been sentenced to eighteen months in prison for conspiring to misapply bank funds, announced Robert J. Troester, Acting U.S. Attorney for the…
Premium Finance Cash Refunds and Beneficial Ownership Requirements for Legal Entity Customers
May 14, 2018 / Source: FinCEN
Premium Finance Cash Refunds and Beneficial Ownership Requirements for Legal Entity Customers FIN-2018-R001.pdf FIN-2018-R001 Premium Finance Cash Refunds and Beneficial Ownership Requirements for Legal Entity Customers Issued Date May 11, 2018 The Financial Crimes Enforcement Network (FinCEN) is issuing this ruling to provide exceptive relief to covered financial institutions with respect to the application of…
Military Lending Act: New Comptroller’s Handbook Booklet and Rescissions
May 14, 2018 / Source: OCC
OCC BULLETIN 2018-11 Subject: Military Lending Act Date: May 11, 2018 To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Description: New Comptroller's Handbook Booklet and Rescissions Summary The Office of the Comptroller of the Currency…
FFIEC Issues New Customer Due Diligence and Beneficial Ownership Examination Procedures
May 11, 2018 / Source: FFIEC
Press Releases For Immediate Release May 11, 2018 FFIEC Issues New Customer Due Diligence and Beneficial Ownership Examination Procedures The Federal Financial Institutions Examination Council (FFIEC) today issued new examination procedures on the final rule, “Customer Due Diligence Requirements for Financial Institutions,” issued by the Financial Crimes Enforcement Network (FinCEN) on May 11, 2016. These…
May Compliance Huddle is Now Available
May 11, 2018 / Source:
May 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. May Compliance Huddle 2018
FinCEN Reminds Financial Institutions that the CDD Rule Becomes Effective Today
May 11, 2018 / Source: FinCEN
FinCEN Reminds Financial Institutions that the CDD Rule Becomes Effective Today Contact Steve Hudak (703) 905-5149 Immediate Release May 11, 2018 The Financial Crimes Enforcement Network (“FinCEN”) reminds financial institutions and their customers that the final rule, “Customer Due Diligence Requirements for Financial Institutions” (the CDD Rule) becomes effective today. FinCEN issued the CDD Rule,…
HUD TO SEEK PUBLIC COMMENT ON ‘DISPARATE IMPACT’ REGULATION
May 11, 2018 / Source: HUD
HUD No. 18-035 HUD Public Affairs (202) 708-0685 FOR RELEASE Thursday May 10, 2018 HUD TO SEEK PUBLIC COMMENT ON 'DISPARATE IMPACT' REGULATION WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced that it will formally seek the public's comment on whether its 2013 Disparate Impact Regulation is consistent with the…
Spring 2018 rulemaking agenda
May 11, 2018 / Source: CFPB
Spring 2018 rulemaking agenda By Kelly Cochran – MAY 10, 2018 The Bureau’s general purpose, as specified in section 1021 of the Dodd-Frank Act, is to implement and enforce federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial…
Federal Reserve to offer 7-day term deposits on May 17
May 10, 2018 / Source: FRB
Press Release May 10, 2018 Federal Reserve to offer 7-day term deposits on May 17 For release at 10:00 a.m. EDT The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in May. These operations are aimed at ensuring the operational readiness of the TDF…
Counterfeit Cashier’s Checks of Community National Bank in Monmouth, Monmouth, Ill.
May 10, 2018 / Source: OCC
Alert 2018-5 Subject: Counterfeit Cashier’s Checks Date: May 7, 2018 Description: Community National Bank in Monmouth Counterfeit Cashier’s Checks of Community National Bank in Monmouth, Monmouth, Ill. 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 Insurance Corporation;…
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 announces approval of final amendments to its Regulation A
May 9, 2018 / Source: FRB
Press Release May 07, 2018 Federal Reserve Board announces approval of final amendments to its Regulation A For release at 4:00 p.m. EDT The Federal Reserve Board on Monday announced the approval of final amendments to its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments including 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…
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…
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…
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…
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
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…
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…
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…
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…