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FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement
April 2, 2021 / Source: FinCEN
Contact Office of Strategic Communications, 703-905-3770 Immediate Release April 01, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). This ANPRM is the…
Artificial Intelligence: Request for Information on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning
April 1, 2021 / Source: OCC
OCC Bulletin 2021-17| March 31, 2021 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 The Office of the Comptroller of the Currency (OCC) and other members of the Federal Financial Institutions Examination Council are requesting information on…
CFPB Rescinds Series Of Policy Statements To Ensure Industry Complies With Consumer Protection Laws
April 1, 2021 / Source: CFPB
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards. The seven rescissions, effective April 1, provide guidance to financial institutions on complying with their legal…
FDIC Consumer Compliance Supervisory Highlights Wednesday, March 31, 2021
April 1, 2021 / Source: FDIC
Press Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the March 2021 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2020 through the FDIC’s supervision of…