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Federal Reserve Board extends comment period on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions until August 11, 2021
June 22, 2021 / Source: FRB
Press Release June 22, 2021 Federal Reserve Board extends comment period on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions until August 11, 2021 The Federal Reserve Board announced on Tuesday that it will extend until August 11, 2021, the comment period for its proposed changes to Regulation II (Debit…
Statement by CFPB Acting Director Dave Uejio on Impact of the Juneteenth National Independence Day Federal Holiday on Residential Mortgage Closings
June 21, 2021 / Source: CFPB
Statement by CFPB Acting Director Dave Uejio on Impact of the Juneteenth National Independence Day Federal Holiday on Residential Mortgage Closings WASHINGTON, D.C. — Today, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio issued the following statement: President Biden’s signing of the Juneteenth National Independence Day Act into law yesterday afternoon is a cause for…
Federal and State Regulators Release Updates to the BSA/AML Examination Manual June 21, 2021
June 21, 2021 / Source: FFIEC
Press Release For Immediate Release June 21, 2021 Federal and State Regulators Release Updates to the BSA/AML Examination Manual WASHINGTON – The Federal Financial Institutions Examination Council (FFIEC) today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual). Today’s updates affect the following Manual sections: · International Transportation of…
Federal Reserve Board’s offices in Washington, D.C., will be closed Friday, June 18, in observance of Juneteenth National Independence Day
June 18, 2021 / Source: FRB
Press Release June 17, 2021 Federal Reserve Board's offices in Washington, D.C., will be closed Friday, June 18, in observance of Juneteenth National Independence Day The Federal Reserve Board's offices in Washington, D.C., will be closed on Friday, June 18, 2021, in observance of Juneteenth National Independence Day. All previously scheduled announcements will be released…
Chair Powell will host town hall with educators August 2, 2021 at 4 p.m. EDT
June 18, 2021 / Source: FRB
Press Release June 17, 2021 Chair Powell will host town hall with educators August 2, 2021 at 4 p.m. EDT Federal Reserve Board Chair Jerome H. Powell will host a town hall with educators on August 2, 2021 at 4 p.m. EDT. During the event, Chair Powell will respond to questions asked by participants who…
Observation of New Federal Holiday, Juneteenth National Independence Day
June 18, 2021 / Source: FDIC
Financial Institution Letter Observation of New Federal Holiday, Juneteenth National Independence Day June 17, 2021 | FIL-44-2021 Summary: The President of the United States today signed legislation designating Juneteenth a federal holiday. As the official holiday falls on a Saturday this year, the federal government will observe the holiday on Friday, June 18. When determining their operating…
Office of the Comptroller of the Currency to Close June 18 in Recognition of Juneteenth
June 18, 2021 / Source: OCC
News Release 2021-68 | June 17, 2021 Office of the Comptroller of the Currency to Close June 18 in Recognition of Juneteenth WASHINGTON—In recognition of the Juneteenth federal holiday signed into law by President Biden today, the Office of the Comptroller of the Currency will be closed Friday, June 18, 2021. Media Contact Bryan Hubbard (202) 649-6870 Topic(s):…
OCC Enforcement Actions and Terminations June 17, 2021
June 17, 2021 / Source: OCC
News Release 2021-67 | June 17, 2021 OCC Enforcement Actions and Terminations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. All Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders…
FFIEC Announces Availability of 2020 Data on Mortgage Lending
June 17, 2021 / Source: FFIEC
Press Release For Immediate Release June 17, 2021 FFIEC Announces Availability of 2020 Data on Mortgage Lending The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations,…
Consumer Financial Protection Bureau Issues Interpretive Rule on Authority to Resume Examinations Regarding the Military Lending Act
June 16, 2021 / Source: CFPB
Consumer Financial Protection Bureau Issues Interpretive Rule on Authority to Resume Examinations Regarding the Military Lending Act WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule today that explains the basis for its authority to examine supervised financial institutions for risks to active duty servicemembers and their dependents (i.e. military borrowers) from conduct that…
Federal Reserve issues FOMC statement June 16, 2021
June 16, 2021 / Source: FRB
Press Release June 16, 2021 Federal Reserve issues FOMC statement The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. Progress on vaccinations has reduced the spread of COVID-19 in the United States. Amid this…
FDITECH Launches Tech Sprint to Reach More Unbanked People June 16, 2021
June 16, 2021 / Source: FDIC
Press Release FDITECH Launches Tech Sprint to Reach More Unbanked People June 16, 2021 For Release WASHINGTON – The Federal Deposit Insurance Corporation today announced a ‘tech sprint’ designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households. The FDIC‘s tech lab, FDITECH,…
FDIC Board Approves New Policy Statement on Minority Depository Institutions
June 15, 2021 / Source: FDIC
Press Release FDIC Board Approves New Policy Statement on Minority Depository Institutions June 15, 2021 For Release WASHINGTON—The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final Statement of Policy to enhance the agency’s efforts to preserve and promote Minority Depository Institutions (MDIs). The FDIC’s revised policy statement reflects public…
Remarks by the Acting Comptroller of the Currency on Reducing Bias in Real Estate Appraisals
June 15, 2021 / Source: OCC
News Release 2021-66 | June 15, 2021 Remarks by the Acting Comptroller of the Currency on Reducing Bias in Real Estate Appraisals WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today delivered remarks to raise awareness about the need to reduce bias in real estate appraisals, during an event on the subject hosted by the Consumer Financial Protection…
Two Charged as Co-Conspirators for Nearly $1 Million COVID-19 Relief Fraud Scheme and Money Laundering
June 14, 2021 / Source: DOJ
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, June 11, 2021 Two Charged as Co-Conspirators for Nearly $1 Million COVID-19 Relief Fraud Scheme and Money Laundering A New York man and an Oklahoma woman were arrested Wednesday in Buffalo, New York and Altus, Oklahoma, respectively, on a criminal complaint filed in the…
A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters JUN 14, 2021
June 14, 2021 / Source: CFPB
Data point A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters JUN 14, 2021 The 2015 HMDA Rule required that financial institutions that originated no fewer than 25 closed-end mortgage loans in each of the two preceding years and meet other reporting criteria such as asset and locational tests…
Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council
June 11, 2021 / Source: OCC
News Release 2021-65 | June 11, 2021 Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the LIBOR transition: Thank you, Madam Secretary, and thank you for…
Spring 2021 Rulemaking Agenda
June 11, 2021 / Source: CFPB
Spring 2021 Rulemaking Agenda By Susan M. Bernard – JUN 11, 2021 We have published our Spring 2021 Agenda as part of the Spring 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions , which is coordinated by the Office of Management and Budget under Executive Order 12866. The agenda lists the regulatory matters that, to further our consumer protection mission and…
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29
June 10, 2021 / Source: OCC
News Release 2021-64 | June 10, 2021 OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, June 29, 2021. The virtual meeting is open to the public and will…
Regulatory Relief FIL-40-2021
June 10, 2021 / Source: FDIC
Financial Institution Letter Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Louisiana Affected by Severe Storms, Tornadoes, and Flooding June 10, 2021 | FIL-40-2021 Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Louisiana affected by severe storms,…
Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy
June 9, 2021 / Source: Treasury
PRESS RELEASES Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy 55 June 9, 2021 WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals who support the Ortega regime — a regime that has undermined democracy, abused the human…
More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million
June 9, 2021 / Source: Treasury
PRESS RELEASES More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million June 9, 2021 WASHINGTON — The U.S. Department of the Treasury, Internal Revenue Service, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments…
SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
June 8, 2021 / Source: SBA
SBA Administrator Issues Statement on the Closure of Paycheck Protection Program PPP has provided nearly $800 billion to small businesses and nonprofits across the nation, fueling the economy by supporting over 8.5 million small businesses and nonprofits June 1, 2021 | Release Number 21-45 Contact U.S. Small Business Administration at [email protected] WASHINGTON – Today, U.S. Small Business Administrator Isabella…
FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021
June 8, 2021 / Source: FHFA
News Release FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021 Multifamily property owners entering into new or modified forbearance plans must offer tenant protections FOR IMMEDIATE RELEASE 6/3/2021 Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying…
Nine Individuals Charged for Roles in Fraud Scam Involving 200 Victims
June 8, 2021 / Source: FDIC OIG
PRESS RELEASE FOR IMMEDIATE RELEASE Tuesday, June 1, 2021 Nine Individuals Charged for Roles in Fraud Scam Involving 200 Victims Victims Defrauded of at Least $2.5 Million CHARLESTON, W.Va. – Three indictments returned by a federal grand jury sitting in Charleston have been unsealed that charge nine men for their involvement in illegal schemes alleged…