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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  • FFIEC Launches New BSA/AML InfoBase on its Website

    October 18, 2018 / Source: FFIEC

    The Federal Financial Institutions Examination Council (FFIEC) launched the redesigned Bank Secrecy Act/Anti-Money Laundering (BSA/AML) InfoBase website, which is aimed at sharing bank examination procedure information with examiners, financial institutions, the public, and other stakeholders.

  • CFPB Fall 2018 rulemaking agenda

    October 18, 2018 / Source: CFPB

    Under the Regulatory Flexibility Act, Federal agencies must publish regulatory agendas twice a year. As an independent regulatory agency, the Bureau has been voluntarily participating in the Unified Agenda , which is led by the Office of Management and Budget (OMB).

  • Minutes of the Federal Open Market Committee, September 25-26, 2018

    October 18, 2018 / Source: FRB

    The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 25-26, 2018. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.

  • Study finds U.S. payments fraud a small but growing fraction of overall payments

    October 17, 2018 / Source: FRB

    Federal Reserve Payments Study finds U.S. payments fraud a small but growing fraction of overall payments

  • Appraisal Regulations: Frequently Asked Questions

    October 17, 2018 / Source: FDIC

    The federal banking agencies (the Agencies) are issuing the attached Frequently Asked Questions (FAQs) on appraisal and evaluation functions. This document was developed in response to recent questions about the agencies' real estate appraisal regulations and guidelines and replaces previous FAQs on the appraisal regulations issued in 2005

  • FDIC Enhances Tool to Prevent Elder Financial Exploitation

    October 15, 2018 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) today announced the release of a Spanish-language version of Money Smart for Older Adults. The curriculum, now offered in English and Spanish, has been updated to provide new information and resources to help older adults and their caregivers recognize and prevent fraud, scams, and other types of financial exploitation. The curriculum also includes information to help older adults plan for a secure financial future and make informed financial decisions.

  • Comptroller’s Handbook: Updated Booklets and Rescissions

    October 15, 2018 / Source: OCC

    The Office of the Comptroller of the Currency (OCC) today issued updates to the “Agricultural Lending,” “Oil and Gas Exploration and Production Lending,” and “Trade Finance and Services” booklets of the Comptroller’s Handbook, which are used by examiners in their examination and supervision of these areas.

  • Federal Reserve Board announces approval of applications by Security Trust & Savings Bank

    October 12, 2018 / Source: FRB

    The Federal Reserve Board on Friday announced its approval of the applications, under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act, by Security Trust & Savings Bank, Storm Lake, Iowa, to acquire substantially all of the assets and assume substantially all of the liabilities of First National Bank of Rembrandt, Rembrandt, Iowa, and establish and operate a branch at the location of the main office of First National Bank of Rembrandt.

  • FinCEN Issues Advisory on the Iranian Regime’s Illicit and Malign Activities and Attempts to Exploit

    October 12, 2018 / Source: FinCEN

    The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to help financial institutions better detect and report potentially illicit transactions related to the Islamic Republic of Iran.

  • Margin and Capital Requirements for Covered Swap Entities: Final Rule

    October 11, 2018 / Source: OCC

    The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the board), the Federal Deposit Insurance Corporation (FDIC), the Farm Credit Administration, and the Federal Housing Finance Agency (collectively, the agencies) published a final rule in the Federal Register to amend their regulations regarding the minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants.

  • Joint Release/Federal and State Financial Regulatory Agencies Issue Interagency Statement ...

    October 11, 2018 / Source: FDIC

    Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Michael

  • October Compliance Huddle is Now Available!

    October 11, 2018

    October Compliance Huddle is now available

  • Board of Directors: Year End Approvals & Renewals Webinar is Now Available!

    October 11, 2018

    The Board of Directors is ultimately responsible for the compliance management of their specific institution, meaning they have the critical role of oversight. However, the Board’s oversight duties related to policies, procedures and practices don’t stop at ensuring implementation – it requires ongoing reviews and an understanding. This webinar will cover annual review requirements for the Board of Directors related to policies and programs. This includes actual requirements for a written policy for specific areas, such as an annual review of the BSA Program but also includes a variety of best practice annual reviews of policies. This presentation will also cover regulator expectations related to how the board reviews its own effectiveness and ensures that the bank is adhering to the board approved policies.

  • OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Michael in the…

    October 10, 2018 / Source: OCC

    OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Michael in the Gulf Coast Region to Close.

  • FDIC to Hold 8th Annual Consumer Research Symposium in Arlington, Virginia

    October 10, 2018 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) will sponsor its 8th Annual Consumer Research Symposium on October 12, 2018. The conference will feature brief remarks by FDIC Chairman Jelena McWilliams, presentations of selected research papers, and a distinguished guest lecture on fairness in machine learning from Aaron Roth, Class of 1940 Bicentennial Term Associate Professor of Computer and Information Science, University of Pennsylvania.

  • FDIC Issues List of Banks Examined for CRA Compliance

    October 05, 2018 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA).

  • OCC to Host Innovation Office Hours in Dallas

    October 05, 2018 / Source: OCC

    The Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours, November 14-15, 2018, in Dallas, Texas, to promote responsible innovation in the federal banking system.

  • FDIC Announces Meeting of Advisory Committee on Community Banking

    October 04, 2018 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) today announced that it will hold a meeting of the Advisory Committee on Community Banking on Wednesday, October 10. The Committee will discuss local banking conditions.

  • Federal agencies issue a joint statement on banks and credit unions sharing resources to improve…

    October 04, 2018 / Source: FRB

    Federal agencies issue a joint statement on banks and credit unions sharing resources to improve efficiency and effectiveness of Bank Secrecy Act compliance.

  • Comment on potential actions to facilitate real-time interbank settlement of faster payments

    October 04, 2018 / Source: FRB

    The Federal Reserve Board on Wednesday invited public comment on actions the Federal Reserve could take to support faster payments in the United States. The potential actions, which would facilitate real-time interbank settlement of faster payments, build on collaborative work with the payment industry through the Federal Reserve System's Strategies for Improving the U.S. Payment System (SIPS) initiative.

  • Treyton Thomas Pleads Guilty to Multi-Million Dollar Investment Fraud Scheme and Income Tax Evasion

    October 04, 2018 / Source: FDICIG

    Robert J. Higdon, Jr., United States Attorney for the Eastern District of North Carolina, announces that today, in federal court, TREYTON LEE THOMAS, age 62, pled guilty to wire fraud, affecting a financial institution, and income tax evasion. In pleading guilty, THOMAS, agreed to pay restitution to all the victims of his fraud scheme and to forfeit more than seven million dollars.

  • Back2Basics: Appraisals Webinar is Now Available!

    October 03, 2018

    This webinar will cover appraisal requirements related to the FIRRA Appraisal Guidelines, Regulation Z and Regulation B. The presentation will compare commercial and residential property securing a loan, as well, as discussing the updated appraisal threshold for commercial property. The presentation will also cover requirements related to Regulation Z’s independence standard and the appraisal requirements for higher-priced mortgage loans.

  • Flood Insurance Webinar is Now Available!

    October 03, 2018

    Flood insurance requirements are often one of the most challenging aspects of both commercial and residential lending. It's not uncommon for the borrower, lender and insurance agent to each reach a certain level of frustration with having to meet these requirements in order to get a loan closed. C/A’s September webinar will take an in-depth look at these requirements, top to bottom, including: • Scope of the rules • Determining minimum flood requirements • Notice requirements • NFIP maximums by property type • Evidence of coverage • Contents, condominium, and construction coverage • Penalties for noncompliance • Detached structure exemption • Escrow notices and exceptions • Force placement notices and procedures • Private flood insurance • Frequently asked questions throughout At the end of the presentation, you should be able to identify transactions and buildings that are covered by the rule, understand how to calculate the minimum amount of flood insurance required, and be able to determine what policies, procedures, and notices are required for compliance.

  • Comptroller of the Currency Discusses Implementation of the Economic Growth Act

    October 02, 2018 / Source: OCC

    Comptroller of the Currency Joseph M. Otting today discussed the implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 during testimony before the Senate Committee on Banking, Housing, and Urban Affairs.

  • FDIC Requests Information on Improving Communication with Banks and Other Stakeholders

    October 02, 2018 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking comments on how the agency can maximize efficiency and minimize burden when communicating information to insured depository institutions, consumers, and others, about laws, rules, and related matters.