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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Federal Reserve Board announces termination of enforcement actions

August 14, 2018 / Source: FRB

Press Release August 14, 2018 Federal Reserve Board announces termination of enforcement actions with HSBC North America Holdings, Inc., Capital Funding Bancorp, Inc. and CFG Community Bank, and CommerceWest Bank For release at 1:15 p.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: HSBC North America Holdings,…

Regulation P Updated To Implement Legislation Amending Gramm-Leach-Bliley Act

August 13, 2018 / Source: CFPB

Bureau of Consumer Financial Protection Updates Regulation P To Implement Legislation Amending Gramm-Leach-Bliley Act Changes Will Ease Burden on Financial Institutions and Reduce Risk of Consumer Confusion AUG 10, 2018   WASHINGTON, D.C. – The Bureau of Consumer Financial Protection (Bureau) today finalized amendments to implement legislation that allows financial institutions that meet certain requirements to…

FRB fines Citigroup

August 13, 2018 / Source: FRB

Press Release August 10, 2018 Federal Reserve Board fines Citigroup $8.6 million for the improper execution of residential mortgage-related documents and announces termination of 2011 enforcement action For release at 11:00 a.m. EDT The Federal Reserve Board on Friday announced an $8.6 million fine against Citigroup for the improper execution of residential mortgage-related documents. The…

Counterfeit Official Bank Checks of Gate City Bank, Fargo, N.D.

August 13, 2018 / Source: OCC

Alert 2018-10 Subject: Counterfeit Official Bank Checks Date: August 8, 2018 Description: Gate City Bank Counterfeit Official Bank Checks of Gate City Bank, Fargo, N.D. 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; Chair, Federal Deposit Insurance Corporation; Conference of…

August Compliance Huddle is Now Available!

August 10, 2018 / Source:

August 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.  August Compliance Huddle is Now Available!

Extension of Limited Exception from Beneficial Ownership Requirements

August 8, 2018 / Source: FinCEN

Extension of Limited Exception from Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Rollovers and Renewals Extension_Temp_Exceptive_Relief.pdf65.29 KB Immediate Release August 08, 2018 On May 16, 2018, the Financial Crimes Enforcement Network (FinCEN) issued a 90-day limited exceptive relief to covered financial institutions from the obligations of the Beneficial…

Back2Basics: Reg. Z – Home Equity Webinar is Now Available!

August 8, 2018 / Source:

Back2Basics – Reg. Z – Home Equity Webinar is Now Available! It can be found under “News & Events” “Past Events” “Past Webinars.” View Webinar Here

HMDA Data Publication

August 8, 2018 / Source: FFIEC & CFPB

HMDA Data Publication The HMDA data and reports are the most comprehensive publicly available information on mortgage market activity. The data and reports can be used along with the Censusdemographic information for data analysis purposes. Available below are the data and reports for HMDA data collected in or after 2017. For HMDA data and reports for…

BCFP Collaborates With Regulators Around The World To Create Global Financial Innovation Network

August 8, 2018 / Source: BCFP

BCFP Collaborates With Regulators Around The World To Create Global Financial Innovation Network AUG 07, 2018 WASHINGTON, D.C. – The Bureau of Consumer Financial Protection (BCFP), working in collaboration with 11 financial regulators and related organizations, is announcing an initiative to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more…

Wells Fargo faces tax credit probes, new problems with mortgage borrowers

August 7, 2018 / Source: Reuters

Wells Fargo faces tax credit probes, new problems with mortgage borrowers NEW YORK (Reuters) – Wells Fargo & Co (WFC.N) is facing government probes into its use of low-income housing tax credits, and has also set aside $8 million to compensate borrowers who were incorrectly denied mortgage modifications under a federal assistance program, the bank…

Former CEO And Chief Loan Officer Of Failed Sonoma Valley Bank Sentenced To Multi-Year Prison Terms

August 7, 2018 / Source: FDICIG

PRESS RELEASE FOR IMMEDIATE RELEASE Friday, August 3, 2018 Former CEO And Chief Loan Officer Of Failed Sonoma Valley Bank, And Borrower’s California Attorney, Sentenced To Multi-Year Prison Terms For Bank Fraud And Other Crimes Court Ordered Asset Forfeiture of Defendant’s Interest in Real Estate Worth Approximately $20,800,000 as Proceeds of the Crimes SAN FRANCISCO…

FDIC Issues List of Banks Examined for CRA Compliance

August 3, 2018 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE August 3, 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…

OCC Releases CRA Evaluations for 40 National Banks and Federal Savings Associations

August 3, 2018 / Source: OCC

NR 2018-75 FOR IMMEDIATE RELEASE August 2, 2018 Contact: (202) 649-6870 OCC Releases CRA Evaluations for 40 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 July 1, 2018…

Federal Reserve issues FOMC statement

August 2, 2018 / Source: FRB

Press Release   PDF August 01, 2018 Federal Reserve issues FOMC statement For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on…

The FDIC’s Governance of Information Technology Initiatives

August 2, 2018 / Source: FDICIG

The FDIC’s Governance of Information Technology Initiatives Thursday, July 26, 2018 The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General issued an audit report that highlights challenges and risks facing the FDIC with respect to the governance of its information technology (IT) initiatives.   The audit focused on key components of the FDIC’s IT…