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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Kraninger Marks First Year as Director of the Consumer Financial Protection Bureau

December 11, 2019 / Source: CFPB

Kraninger Marks First Year as Director of the Consumer Financial Protection Bureau DEC 10, 2019 WASHINGTON, D.C. – Today, Consumer Financial Protection Bureau Director Kathleen L. Kraninger made the following statement regarding her Dec. 11 one year anniversary leading the Bureau: “It is an honor and privilege to serve and protect American consumers,” said Director Kraninger….

Quarterly Consumer Credit Trends: Public records, credit scores, and credit performance

December 10, 2019 / Source: CFPB

Industry and markets Quarterly Consumer Credit Trends: Public records, credit scores, and credit performance DEC 10, 2019 This is part of a series of quarterly reports of consumer credit trends produced by the Consumer Financial Protection Bureau using a longitudinal, nationally representative sample of approximately five million de-identified credit records maintained by one of the…

Supervisory Highlights Consumer Reporting Special Edition, Issue No. 20 (Fall 2019)

December 10, 2019 / Source: CFPB

Supervisory Highlights Supervisory Highlights Consumer Reporting Special Edition, Issue No. 20 (Fall 2019) In this special issue of Supervisory Highlights, we report examination findings in the areas of consumer reporting and furnishing of information to consumer reporting companies, pursuant to the Fair Credit Reporting Act and Regulation V. The report does not impose any new or…

OCC Highlights Key Risks for Federal Banking System

December 9, 2019 / Source: OCC

News Release 2019-145 | December 9, 2019 OCC Highlights Key Risks for Federal Banking System SHARE THIS PAGE: ·           WASHINGTON — The Office of the Comptroller of the Currency (OCC) today reported operational, credit, and interest rate risks are among the key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2019. Highlights from…

Request for Information on a Framework for Analyzing the Effects of FDIC Regulatory Actions

December 9, 2019 / Source: FDIC

Financial Institution Letters FIL-79-2019 December 9, 2019 Request for Information on a Framework for Analyzing the Effects of FDIC Regulatory Actions Printable Format: FIL-79-2019 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation (FDIC) today issued a Request for Information (RFI) seeking comment on approaches it uses, or is considering using, to analyze the effects of its…

November 05, 2019: Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook

December 6, 2019 / Source: NACHA

Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook   POSTED ON November 05, 2019   The inaugural version of the online educational and decisioning platform is designed to help banks and credit unions develop a faster payments strategy MIAMI, Nov. 5, 2019 – Today, Nacha and its Payments…

CFPB Ombudsman’s Office 2019 Annual Report

December 6, 2019 / Source: CFPB

CFPB Ombudsman's Office 2019 Annual Report By Wendy Kamenshine – DEC 05, 2019 Today, the Ombudsman’s Office’s annual report is available on our webpage. Each year our annual report, which I deliver to the Director, outlines our work process and summarizes our activities from the last fiscal year. The Ombudsman’s Office is an independent, impartial, and confidential resource that…

OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations

December 5, 2019 / Source: OCC

News Release 2019-144 | December 5, 2019 OCC Releases CRA Evaluations for 22 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 November 1, 2019 through November 30, 2019. The list contains only national…

Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware

December 5, 2019 / Source: FinCEN

Treasury News Release: Treasury Sanctions Evil Corp, the Russia-Based Cybercriminal Group Behind Dridex Malware Immediate Release December 05, 2019 Washington – Today the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) took action against Evil Corp, the Russia-based cybercriminal organization responsible for the development and distribution of the Dridex malware.  Evil Corp has used the…

FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets

December 5, 2019 / Source: FinCEN

FinCEN Analysis: Bank Secrecy Act Reports Filed by Financial Institutions Help Protect Elders from Fraud and Theft of Their Assets Contact Steve Hudak, 703-905-3770 Immediate Release December 04, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today released a new strategic analysis of Bank Secrecy Act (BSA) reporting, indicating that elders face an increased threat to their financial…

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

December 4, 2019 / Source: FDIC

Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE December 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 Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting

December 4, 2019 / Source: OCC

News Release 2019-142 | December 3, 2019 Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting SHARE THIS PAGE: Joint Release Board of Governors of the Federal Reserve System Consumer Financial Protection Bureau Federal Deposit Insurance Corporation Office of Comptroller of the Currency National Credit Union Administration WASHINGTON – Five federal financial regulatory…

Consumer Financial Protection Bureau Issues Notice of Proposed Rulemaking on Remittance Rule

December 3, 2019 / Source: CFPB

Consumer Financial Protection Bureau Issues Notice of Proposed Rulemaking on Remittance Rule DEC 03, 2019 WASHINGTON, D.C. –The Consumer Financial Protection Bureau (Bureau) issued today a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule).  The Rule generally requires companies that provide remittance transfers in the normal course of business disclose to consumers certain…

Agencies Clarify Requirements for Providing Financial Services to Hemp-Related Businesses

December 3, 2019 / Source: FDIC

Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Financial Crimes Enforcement Network Office of the Comptroller of the Currency Conference of State Bank Supervisors For Release at 10:00 a.m. ET December 3, 2019 Agencies Clarify Requirements for Providing Financial Services to Hemp-Related Businesses WASHINGTON—Four federal agencies in…

FDIC Seeks Comment on Approaches to Cost-Benefit Analysis

December 3, 2019 / Source: FDIC

Press Releases FDIC Seeks Comment on Approaches to Cost-Benefit Analysis FOR IMMEDIATE RELEASE December 3, 2019 Media Contact: Brian Sullivan 202-898-6534 [email protected] WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is issuing a Request for Information (RFI) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions. The RFI…

Webinar on Recent and Proposed Revisions to the Consolidated Reports of Condition and Income (Call Report)

December 2, 2019 / Source: FDIC

Financial Institution Letters   Federal Financial Institutions Examination Council 3501 Fairfax Drive – Room B7081a – Arlington, VA 22226-3550 – (703) 516-5588 – FAX (703) 562-6446 – http://www.ffiec.gov FIL-75-2019 December 2, 2019 Printable Format: FIL-75-2019 – PDF (PDF Help) DEPOSITORY INSTITUTION REPORTS TO: CHIEF EXECUTIVE OFFICER (also of interest to Chief Financial Officer)       SUBJECT:…

Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts

December 2, 2019 / Source: FDIC

Financial Institution Letters FIL-74-2019 December 2, 2019 Regulatory Capital Rule: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts Printable Format: FIL-74-2019 – PDF (PDF Help) Summary: The federal bank regulatory agencies (the agencies) have jointly issued a final rule that amends the regulatory capital rule (capital rule) to implement a new approach for…

FDIC Makes Public October 2019 Enforcement Actions

December 2, 2019 / Source: FDIC

Press Releases FDIC Makes Public October Enforcement Actions; No Administrative Hearings Scheduled for December 2019 FOR IMMEDIATE RELEASE November 29, 2019 Media contact: LaJuan Williams-Young (202) 898-6876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in October. There are no administrative…

FDIC Issues CRA Examination Schedules for First and Second Quarter 2020

December 2, 2019 / Source: FDIC

Press Releases FDIC Issues CRA Examination Schedules for First and Second Quarter 2020 FOR IMMEDIATE RELEASE November 29, 2019 Media contact: LaJuan Williams-Young (202) 898-3876 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first and second quarter 2020. CRA regulations…