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 members of its Community Depository Institutions Advisory Council for 2020

January 14, 2020 / Source: FRB

Press Release January 14, 2020 Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020 For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the…

IRS Reminds Taxpayers that Direct Deposit is the Fastest Way to Receive a Refund

January 14, 2020 / Source: NACHA

IRS Reminds Taxpayers that Direct Deposit is the Fastest Way to Receive a Refund POSTED ON January 14, 2020 Want your tax refund fast? Use Direct Deposit. And while you’d normally think that’s what we’d say, this time it’s not. That’s coming from the Internal Revenue Service, which called Direct Deposit the “simple, safe and…

Consolidated Reports of Condition and Income for Fourth Quarter 2019

January 13, 2020 / Source: FDIC

Financial Institution Letters FIL-2-2020 January 13, 2020 Consolidated Reports of Condition and Income for Fourth Quarter 2019 Printable Format: FIL-2-2020 – PDF (PDF Help) Summary: The Consolidated Reports of Condition and Income (Call Report) for the December 31, 2019, report date must be submitted to the agencies' Central Data Repository by Thursday, January 30, 2020. Certain…

Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020

January 13, 2020 / Source: FRB

Press Release January 10, 2020 Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020 For release at 12:00 p.m. EST Share The Federal Reserve Board on Friday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2020. Each Reserve…

Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers

January 10, 2020 / Source: CFPB

Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers JAN 10, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies (HCAs) certified by the U.S. Department of Housing and…

Community Reinvestment Act: Notice of Proposed Rulemaking

January 10, 2020 / Source: OCC

Community Reinvestment Act: Notice of Proposed Rulemaking To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have issued a joint notice of proposed…

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019

January 10, 2020 / Source: FRB

Press Release January 10, 2020 Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019 For release at 10:00 a.m. EST Share The Federal Reserve Board on Friday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $54.9 billion to the U.S. Treasury. The…

Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies

January 9, 2020 / Source: CFPB

Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies JAN 09, 2020   WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and…

Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte

January 9, 2020 / Source: FRB

Press Release January 09, 2020 Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte For release at 11:00 a.m. EST Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: United Bank of El Paso del Norte, El Paso, Texas Cease and Desist Order…

A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B

January 8, 2020 / Source: NACHA

A Higher Dollar Limit for Same Day ACH Means a Huge Growth Opportunity for B2B Michael W. Kahn Nacha Editor’s Note: This is the first in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look…

Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020

January 8, 2020 / Source: OCC

Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2020 To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary On December 30, 2019, the Office of the Comptroller of the Currency (OCC) published in the Federal Register the…

HUD ISSUES IMPROVED FAIR HOUSING RULE

January 8, 2020 / Source: HUD

HUD ISSUES IMPROVED FAIR HOUSING RULE WASHINGTON – The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD's proposed rule. “HUD's commitment to Fair Housing remains as steadfast as ever…

Counterfeit Cashier’s Checks: Counterfeit Cashier’s Checks of Stephenson National Bank & Trust, Marinette, Wis.

January 8, 2020 / Source: OCC

Counterfeit Cashier's Checks: Counterfeit Cashier's Checks of Stephenson National Bank & Trust, Marinette, Wis. 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 State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels;…

Nacha Announces New Officers and Directors for 2020

January 8, 2020 / Source: NACHA

Nacha Announces New Officers and Directors for 2020 Nacha today announced its new Board Chairperson and Secretary/Treasurer as well as six new directors. The Nacha Board oversees the governance and administration of Nacha as the ACH Network administrator and industry trade association. “We are pleased to welcome our new officers and directors,” said Nacha President…

America Saves Week is Coming; Here’s Why You Need to Be Involved

January 6, 2020 / Source: NACHA

America Saves Week is Coming; Here’s Why You Need to Be Involved POSTED ON January 06, 2020 AUTHOR Michael W. Kahn You don’t have to look far to find proof that many Americans aren’t saving enough. And we’re not even talking about retirement. What if the car’s transmission dies? What if the refrigerator is toast? …

US Conflict With Iran Sparks Cybersecurity Concerns

January 6, 2020 / Source: Bank Info Security

US Conflict With Iran Sparks Cybersecurity Concerns Homeland Security Reminds CISOs to Protect Critical SystemsScott Ferguson (@Ferguson_Writes) • January 3, 2020     (This story has been updated. See additional updates on the threat posed by pro-Iranian hackers and an incident involving defacing of a U.S. government website.) After an Iranian general was killed in a U.S. drone strike in Baghdad late…

OCC Releases CRA Evaluations for 24 National Banks and Federal Savings Associations

January 3, 2020 / Source: OCC

News Release 2020-4 | January 3, 2020 OCC Releases CRA Evaluations for 24 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 December 1, 2019 through December 31, 2019.  The list contains only national…

Reopening Comment Period for Proposed Rule to Amend Swap Margin Requirements

January 3, 2020 / Source: FDIC

News Release 2020-3 | January 03, 2020 Reopening Comment Period for Proposed Rule to Amend Swap Margin Requirements Printable Format: FIL-88-2019 – PDF (PDF Help) Summary: The FDIC, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve, Farm Credit Administration, and Federal Housing Finance Agency (collectively, the agencies) are reopening the…

OCC Releases 2020 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations

January 2, 2020 / Source: OCC

News Release 2020-1 | January 2, 2020 OCC Releases 2020 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced its 2020 schedule of workshops for board directors and bank management of national community banks and federal savings associations. The OCC…

Agencies release 2020 annual CRA asset-size threshold adjustments for small and intermediate small institutions

January 2, 2020 / Source: FRB

Joint Press Release December 31, 2019 Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions Federal Deposit Insurance Corporation Federal Reserve Board of Governors Office of the Comptroller of the Currency For release at 1:30 p.m. EST Share WASHINGTON—The federal bank regulatory agencies today announced the annual adjustment to the asset-size…