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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Blake Paulson Named Agency’s Next Senior Deputy Comptroller for Midsize and Community Bank Supervision

October 16, 2019 / Source: OCC

News Release 2019-119 | October 15, 2019 Blake Paulson Named Agency’s Next Senior Deputy Comptroller for Midsize and Community Bank Supervision SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Blake Paulson would become the next Senior Deputy Comptroller for Midsize and Community Bank Supervision. In this role, Mr. Paulson will…

ACH Network Volume Jumps 9.5% in Third Quarter

October 15, 2019 / Source: NACHA

ACH Network Volume Jumps 9.5% in Third Quarter POSTED ON October 15, 2019 Same Day ACH Volume Surpasses 1 Million Payments Daily HERNDON, Va., Oct. 15, 2019 – ACH Network payment volume and Same Day ACH payment volume both soared in the third quarter of 2019.   The 6.2 billion ACH payments in the third quarter…

CFPB Private Education Loan Ombudsman Issues 2019 Annual Report

October 15, 2019 / Source: CFPB

CFPB Private Education Loan Ombudsman Issues 2019 Annual Report OCT 15, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) Private Education Loan Ombudsman issued today the 2019 Annual Report showing that from September 1, 2017 through August 31, 2019 the Bureau handled approximately 20,600 complaints related to private or federal student loans. Of these,…

CFPB Announces Taskforce on Federal Consumer Financial Law

October 11, 2019 / Source: CFPB

CFPB Announces Taskforce on Federal Consumer Financial Law OCT 11, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today announced that it will establish a taskforce to examine ways to harmonize and modernize federal consumer financial laws.  The Taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and…

OCC Assesses $30 Million Civil Money Penalty Against Citibank

October 11, 2019 / Source: OCC

News Release 2019-118 | October 11, 2019 OCC Assesses $30 Million Civil Money Penalty Against Citibank SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $30 million civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violations related to the holding period of other real estate owned…

Consumer Financial Protection Bureau Issues Final HMDA Rule to Provide Relief to Smaller Institutions

October 10, 2019 / Source: CFPB

Consumer Financial Protection Bureau Issues Final HMDA Rule to Provide Relief to Smaller Institutions OCT 10, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today issued a rule which finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current…

Federal Reserve Board announces it is seeking to permanently bar former branch manager and vice president of Pacific Premier Bank from employment in banking industry

October 10, 2019 / Source: FRB

Press Release October 10, 2019 Federal Reserve Board announces it is seeking to permanently bar former branch manager and vice president of Pacific Premier Bank from employment in banking industry For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced that it is seeking to permanently bar Mai Ly-Vu, a former…

October 9, 2019: FDIC Announces Meeting of Advisory Committee on Community Banking

October 9, 2019 / Source: FDIC

Press Releases FDIC Announces Meeting of Advisory Committee on Community Banking FOR IMMEDIATE RELEASE October 9, 2019 Media contact: Julianne Fisher Breitbeil (202) 898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, October 10. FDIC senior staff will provide…

Agencies Finalize Changes to Simplify Volcker Rule

October 9, 2019 / Source: FDIC

Press Releases 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 For release at 4:30 p.m. EDT October 8, 2019 Agencies Finalize Changes to Simplify Volcker Rule Five federal financial regulatory agencies on Tuesday announced that…

After SCOTUS Doesn’t Take Domino’s Website Accessibility Case, More ADA Suits Could Be Coming

October 8, 2019 / Source: LAW.COM

After SCOTUS Doesn't Take Domino's Website Accessibility Case, More ADA Suits Could Be Coming Some lawyers say the high court’s silence is a loud proclamation that inaccessible websites violate the ADA, while others say it echoes a void of guidance on the issue. By Alaina Lancaster | October 08, 2019 at 01:00 AM Presently, U.S. consumers can order…

OCC to Host Innovation Office Hours in Las Vegas

October 8, 2019 / Source: OCC

News Release 2019-116 | October 7, 2019 OCC to Host Innovation Office Hours in Las Vegas SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours on October 28 in Las Vegas to promote responsible innovation in the federal banking system. Office Hours are one-on-one meetings…

Man Pleads Guilty to Embezzling Over $3 Million From Employer

October 7, 2019 / Source: FDICOIG

FOR IMMEDIATE RELEASE Friday, October 4, 2019 Man Pleads Guilty to Embezzling Over $3 Million From Employer ALEXANDRIA, Va. – A Maryland man pleaded guilty today to embezzling money from his employer, a Virginia business. According to court documents, Reginald Zayas, 48, of Upper Marlboro, was the Controller at a Virginia-based company.  Over the course…

Comptroller of the Currency Discusses Community Reinvestment, Honored for his Community Service

October 7, 2019 / Source: OCC

News Release 2019-115 | October 4, 2019 Comptroller of the Currency Discusses Community Reinvestment, Honored for his Community Service SHARE THIS PAGE: ·           LOS ANGELES—Comptroller of the Currency Joseph Otting today discussed community reinvestment and service during remarks at National Asian American Coalition’s (NAAC) 16th Annual Economic Development Conference. During his comments, Comptroller Otting highlighted the importance of modernizing…

October 4, 2019: FDIC Issues List of Banks Examined for CRA Compliance

October 4, 2019 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE October 4, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [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…

Federal Reserve Board issues enforcement action with former employee of Columbus Bank & Trust

October 4, 2019 / Source: FRB

Press Release October 03, 2019 Federal Reserve Board issues enforcement action with former employee of Columbus Bank & Trust For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent prohibition against John D. Evans, former employee of Columbus Bank & Trust, Columbus,…

OCC Issues Final Rule Amending Stress Testing Rule for National Banks and Federal Savings Associations

October 3, 2019 / Source: OCC

News Release 2019-114 | October 2, 2019 OCC Issues Final Rule Amending Stress Testing Rule for National Banks and Federal Savings Associations SHARE THIS PAGE: ·           WASHINGTON—The Office of the Comptroller of the Currency (OCC) issued a final rule  amending the OCC’s stress testing rule at 12 CFR 46 (which implements the stress testing requirements of section…

OCC Releases CRA Evaluations for 35 National Banks and Federal Savings Associations

October 3, 2019 / Source: OCC

News Release 2019-113 | October 2, 2019 OCC Releases CRA Evaluations for 35 National Banks and Federal Savings Associations SHARE THIS PAGE: ·           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 September 1, 2019 through September…

Agencies Issue Final Rule to Update Management Interlock Rules

October 2, 2019 / Source: OCC

News Release 2019-112 | October 2, 2019 Agencies Issue Final Rule to Update Management Interlock Rules SHARE THIS PAGE: ·           Joint Release Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency The federal bank regulatory agencies today finalized updates to rules restricting the ability of a director…

OCC Releases Bank Supervision Operating Plan for Fiscal Year 2020

October 2, 2019 / Source: OCC

News Release 2019-111 | October 1, 2019 OCC Releases Bank Supervision Operating Plan for Fiscal Year 2020 SHARE THIS PAGE: ·           WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2020. The plan provides the foundation for policy initiatives and for supervisory strategies as…

Federal Reserve Board issues enforcement action with former employee of Regions Bank.

October 1, 2019 / Source: FRB

Press Release October 01, 2019 Federal Reserve Board issues enforcement action with former employee of Regions Bank For release at 11:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent prohibition against Timothy McMillian, former employee of Regions Bank, Birmingham, Alabama, for using confidential customer…

Consumer Financial Protection Bureau and South Carolina File Suit against brokers of High-Interest Credit Offers

October 1, 2019 / Source: CFPB

Consumer Financial Protection Bureau and South Carolina File Suit against brokers of High-Interest Credit Offers OCT 01, 2019 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) and the South Carolina Department of Consumer Affairs (South Carolina) today filed a lawsuit in federal district court in the District of South Carolina against Katharine Snyder, Performance Arbitrage…