Banker Compliance News

Banking compliance professionals require hot-topic news on consumer and regulatory compliance updates, decisions, amendments, changes and launches from across a wide spectrum of news agencies and federal websites. Not only do we update our News pages with individual news items and their links, but these are sent to members in a Daily Bank Compliance email that can be signed up for once new members log-in. Compliance Alliance monitors these agencies for bank compliance news updates throughout the day—posting relevant information to our News page. This is a valuable resource for Bank Managers and their employees.

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Interagency Notification of Formal Enforcement Actions: Interagency Policy Statement

June 13, 2018 / Source: OCC

OCC BULLETIN 2018-16 Subject: Interagency Notification of Formal Enforcement Actions Date: June 12, 2018 To: Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Interagency Policy Statement Summary The Federal Financial Institutions Examination Council today rescinded its revised policy statement on “Interagency…

Federal Reserve Board issues enforcement action and announces termination of enforcement action

June 13, 2018 / Source: FRB

Press Release June 12, 2018 Federal Reserve Board issues enforcement action with Ashley Burrus and announces termination of enforcement action with Patterson Bankshares, Inc. For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent prohibition of Ashley Burrus, former Financial Services Specialist of…

Former Charity Executive Pleads Guilty to Bribery and Embezzlement Scheme

June 12, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Thursday, June 7, 2018 Former Charity Executive Pleads Guilty to Bribery and Embezzlement Scheme SPRINGFIELD, Mo. – A former executive of a Springfield, Missouri charity, who was also an Arkansas lobbyist, pleaded guilty in federal court today to bribing Arkansas elected officials in a multi-million-dollar scheme, and then along with…

USAA Sues Wells Fargo Over RDC Technology

June 12, 2018 / Source: PYMNTS,com

USAA Sues Wells Fargo Over RDC Technology USAA, the insurance company and bank serving current and former military members and their families, filed a federal lawsuit against Wells Fargo Bank over its use of USAA’s RDC technology. According to Digital Transactions News, the lawsuit, filed in U.S. District Court in Marshall, Texas, accuses Wells Fargo of infringing on…

Former President and CEO of Coastal Bank & Trust Sentenced for Bank Fraud Conspiracy and Obstruction

June 11, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Tuesday, June 5, 2018 Former President and CEO of Coastal Bank & Trust Sentenced for Bank Fraud Conspiracy and Obstruction NEW BERN –The United States Attorney for the Eastern District of North Carolina, Robert J. Higdon, Jr., announced that today, United States District Judge Louise W. Flanagan sentenced ROBERT LEVIE NORRIS, JR.,…

Quarterly consumer credit trends: End-of-year credit card borrowing

June 11, 2018 / Source: CFPB

Industry and markets Quarterly consumer credit trends: End-of-year credit card borrowing JUN 07, 2018 This is part of a series of quarterly reports of consumer credit trends produced by the Bureau of Consumer Financial Protection using a longitudinal, nationally-representative sample of approximately five million de-identified credit records maintained by one of the three nationwide credit…

Back2Basics Reg. O – Extensions of Credit to Bank Insiders Webinar is Now Available!

June 8, 2018 / Source:

Back2Basics Reg. O – Extensions of Credit to Bank Insiders Webinar is now available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here

Schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review

June 8, 2018 / Source: FRB

Press Release June 07, 2018 Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review (CCAR) For release at 4:30 p.m. EDT Results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, June 21, and the results from…

T+2 Securities Transaction Settlement Cycle: Final Rule

June 8, 2018 / Source: OCC

OCC BULLETIN 2018-15 Subject: T+2 Securities Transaction Settlement Cycle Date: June 7, 2018 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: Final Rule Summary The Office of the Comptroller of the Currency (OCC)…

Elkins Woman Sentenced To Over 3 Years In Federal Prison For Theft By Bank Employee

June 7, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Wednesday, June 6, 2018 Elkins Woman Sentenced To Over 3 Years In Federal Prison For Theft By Bank Employee Fayetteville, Arkansas –Duane (DAK) Kees, United States Attorney for the Western District of Arkansas, announced that Erica L. Keller, age 39 of Elkins, Arkansas, was sentenced today to 37 months in federal prison…

OCC Issues Third and Fourth Quarter 2018 CRA Evaluation Schedule

June 7, 2018 / Source: OCC

NR 2018-58 FOR IMMEDIATE RELEASE June 6, 2018 Contact: William Grassano (202) 649-6870 OCC Issues Third and Fourth Quarter 2018 CRA Evaluation Schedule WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2018….

Agencies Ask for Public Comment on Proposal to Simplify and Tailor “Volcker Rule”

June 6, 2018 / Source: OCC

Joint Release Board of Governors of the Federal Reserve System Commodity Futures Trading Commission Federal Deposit Insurance Corporation Office of Comptroller of the Currency Securities and Exchange Commission NR 2018-56 FOR IMMEDIATE RELEASE June 5, 2018 Agencies Ask for Public Comment on Proposal to Simplify and Tailor “Volcker Rule” Five federal financial regulatory agencies on…

FDIC Issues List of Banks Examined for CRA Compliance

June 6, 2018 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE June 5, 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…

FSB launches thematic peer review on bank resolution planning and invites feedback from stakeholders

June 5, 2018 / Source: FSB

FSB launches thematic peer review on bank resolution planning and invites feedback from stakeholders 4 June 2018 Press enquiries: +41 61 280 8138 [email protected] Ref no: 17/2018 The Financial Stability Board (FSB) is seeking feedback from stakeholders as part of its third thematic peer review on resolution regimes, which it has recently launched. The objective…

Former Roseville developer sentenced to over four years of prison for $22 million fraud

June 5, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Friday, June 1, 2018 FORMER ROSEVILLE DEVELOPER SENTENCED TO OVER FOUR YEARS IN PRISON FOR $22 MILLION FRAUD  SACRAMENTO, Calif. — U.S. District Judge Garland E. Burrell Jr. sentenced Abolghasseni “Abe” Alizadeh, 59, of Granite Bay, today to four years and eight months in prison, U.S. Attorney McGregor W. Scott announced. Alizadeh was…

OCC Releases CRA Evaluations for 32 National Banks and Federal Savings Associations

June 4, 2018 / Source: OCC

NR 2018-55 FOR IMMEDIATE RELEASE June 1, 2018 Contact: (202) 649-6870 OCC Releases CRA Evaluations for 32 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 May 1, 2018…

Agencies Issue Final Rulemaking to Shorten Settlement Cycle

June 4, 2018 / Source: OCC

Joint Release Federal Deposit Insurance Corporation Office of the Comptroller of the Currency NR 2018-54 FOR IMMEDIATE RELEASE June 1, 2018 Agencies Issue Final Rulemaking to Shorten Settlement Cycle WASHINGTON — The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) today issued a final rule to shorten the…

Hurricane season bears down with 7 million homes at risk and a flood insurance program set to expire

June 1, 2018 / Source: MarketWatch

Hurricane season bears down — with 7 million homes at risk and a flood insurance program set to expire Published: May 31, 2018 12:00 p.m. ET By ANDREA RIQUIER The final tallies for the 2017 hurricanes aren’t in yet. If the start of summer has you trying to reason with hurricane season, you’re not alone. Millions of homes…

Banker Shaun Hayes Gets Prison Sentence

June 1, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Tuesday, May 29, 2018 Banker Shaun Hayes Gets Prison Sentence St. Louis, MO – Shaun R. Hayes, 58, of Frontenac, was sentenced to 68 months in federal prison today after pleading guilty to participating in a scheme to defraud Excel Bank and to profit from illegal insider loans.  The sentence…