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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May 29, 2015 / Source: National Association of Realtors
Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors®. Led by the Northeast and Midwest, all four major regions saw increases in April.
May 29, 2015 / Source: Freddie Mac Newsroom
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving higher amid positive housing data and pushing fixed mortgage rates to their highest level of the year.
May 29, 2015 / Source: FDIC & OCC
Because of the serious conditions resulting from flooding in the Oklahoma and Texas, the OCC's Senior Deputy Controller of Midsize and Community Bank Supervision, Toney Bland, finds that an emergency condition exists. The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Oklahoma affected by severe storms, tornadoes, straight-line winds, and flooding.
May 28, 2015 / Source: Federal Reserve
The numbers within the report show an improvement from last year's figures and increasing economic optimism
May 28, 2015 / Source: FCC
The proposal would allow for very limited and specific exemptions for urgent circumstances. An example of an urgent circumstance would be a free call or text to alert a customer of potential fraudulent activity on their account.
May 27, 2015 / Source: Congress of the United States
In light of foreseeable challenges during the implementation period, lawmakers are calling for a TILA-RESPA grace period through 2015. The letter reasons that January and February are slower months for home settlement and thus will be an easier transition time for the industry.
May 27, 2015 / Source: Ballard Spahr
Senator Al Franken and 57 other members of Congress signed a letter sent to Director Cordray last week urging the CFPB “to move forward quickly to use its authority under the Dodd-Frank Act to issue strong rules to prohibit the use of forced arbitration clauses in financial contracts and give consumers a meaningful choice after disputes arise.”
May 27, 2015 / Source: CFPB Spring Agenda
An overview of the agenda includes HMDA, TILA-RESPA, follow-up on mortgage rules such as FDCPA, pre-paid financial products, payday/auto title loans, and overdrafts.
May 22, 2015
The Board of Governors of the Federal Reserve System (Board) invites public comment on a proposed rule (proposed rule) that would amend the Board’s liquidity coverage ratio requirement (LCR) to include certain U.S. municipal securities as high-quality liquid assets (HQLA).
May 21, 2015 / Source: American Banker
The Senate Banking Committee approved a broad regulatory reform bill Thursday on party lines, with lawmakers on both sides of the aisle vowing to continue negotiations this summer.
May 21, 2015 / Source: David Perdue
U.S. Senator David Perdue (R-GA) today introduced the Consumer Financial Protection Bureau Accountability Act of 2015. The legislation will make the CFPB accountable to the American people by bringing it under the Congressional appropriations process.
May 20, 2015 / Source: Wall Street Journal
Bill would significantly scale back legislation introduced by Sen. Richard Shelby
May 20, 2015 / Source: Ballard Spahr
A section of this bill would amend the GLBA to create an exception under which a financial institution would not have to deliver an annual financial privacy notice if it (1) does not share nonpublic personal information (NPPI) with nonaffiliated third parties in a manner that triggers GLBA opt-out rights, (2) has not changed its policies and practices with respect to sharing NPPI from those disclosed in the most recent annual privacy notice, and (3) otherwise provides customers access to the institution’s most recent annual privacy notice in electronic or other form permitted by regulations.
May 18, 2015
May 18, 2015 / Source: FinCEN
OCC Releases Final Rule Integrating National Bank & Federal Savings Association Licensing Activities
May 18, 2015 / Source: OCC