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 Seeks Comments on Proposed Revisions to Uniform Interagency Consumer Compliance Rating System

    April 29, 2016 / Source: FFIEC

    The Federal Financial Institutions Examination Council is seeking public comment on its proposal to revise the existing Uniform Interagency Consumer Compliance Rating System to reflect regulatory, supervisory, technological and market changes since the system was established.

  • Mobile Financial Services, New Appendix to the Retail Payment Systems Booklet

    April 29, 2016 / Source: OCC

    The Federal Financial Institutions Examination Council (FFIEC) has released a new appendix, “Mobile Financial Services,” to the “Retail Payment Systems” booklet of the FFIEC Information Technology (IT) Examination Handbook.

  • Mortgage Rates Inch Up

    April 29, 2016 / Source: Freddie Mac

    Mortgage rates are showing on average are trending upwards, but remaining well below 4 percent as we head into the heart of the spring homebuying season.

  • Comptroller Statement Regarding the Proposed Net Stable Funding Rule

    April 29, 2016 / Source: OCC

    Comptroller of the Currency Thomas J. Curry made a statement at a board meeting of the Federal Deposit Insurance Corporation (FDIC) on his vote approving the proposed Net Stable Funding Rule. The Comptroller also signed the proposed rule on behalf of the Office of the Comptroller of the Currency.

  • FOMC: Rates Remain Unchanged

    April 28, 2016 / Source: Federal Reserve Board

    Federal Open Market Committee decided to leave rates unchanged. Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed.

  • FDIC Updates Bank Employee Guide to Deposit Insurance

    April 28, 2016 / Source: FDIC

    This Employee’s Guide is intended to assist depository institutions insured by the Federal Deposit Insurance Corporation (“FDIC”) in providing accurate information about FDIC insurance coverage to their depositors.

  • FDIC: Small Bank Pricing: Final Rule

    April 27, 2016 / Source: FDIC

    On April 26, 2016, the FDIC Board of Directors approved the attached final rule to improve the deposit insurance assessment system for established small insured depository institutions (generally, those banks with less than $10 billion in total assets that have been insured for at least five years).

  • Guidance for Banks’ Maintenance of Records, Records Retention, and Examiner Access

    April 27, 2016 / Source: OCC

    The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to remind national banks and federal savings associations (collectively, banks) of their obligations related to the maintenance of records, records retention, and examiner access to records.

  • Comptroller Statement Regarding the Proposed Incentive-Based Compensation Rule

    April 26, 2016 / Source: OCC

    WASHINGTON — Comptroller of the Currency Thomas J. Curry today made the following statement at a board meeting of the Federal Deposit Insurance Corporation (FDIC) on his vote approving the proposed Incentive-Compensation Rule, implementing Section 956 of the Dodd-Frank Consumer Protection and Wall Street Reform Act of 2010. The Comptroller also signed the proposed rule on behalf of the Office of the Comptroller of the Currency (OCC).

  • Federal Reserve Board Announces Termination of Enforcement Action

    April 26, 2016 / Source: FRB

    Press Release Release Date: April 26, 2016 For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below:

  • Comptroller Statement Regarding the Proposed Net Stable Funding Rule

    April 26, 2016 / Source: OCC

    Comptroller Statement Regarding the Proposed Net Stable Funding Rule WASHINGTON — Comptroller of the Currency Thomas J. Curry today made the following statement at a board meeting of the Federal Deposit Insurance Corporation (FDIC) on his vote approving the proposed Net Stable Funding Rule. The Comptroller also signed the proposed rule on behalf of the Office of the Comptroller of the Currency (OCC).

  • Financial Institution Letter

    April 26, 2016 / Source: FDIC

    Small Bank Pricing: Final Rule Summary: On April 26, 2016, the FDIC Board of Directors approved the attached final rule to improve the deposit insurance assessment system for established small insured depository institutions (generally, those banks with less than $10 billion in total assets that have been insured for at least five years). The final rule is effective July 1, 2016.

  • Weekly National Rates and Rate Caps

    April 25, 2016 / Source: FDIC

    On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC.

  • HUD Announces Agreement with Fidelity Bank to Resolve Allegations of Unfair Lending Practices

    April 25, 2016 / Source: HUD

    The U.S. Department of Housing and Urban Development (HUD) announced today a $1 million agreement between the Fair Housing Project of North Carolina Legal Aid and North Carolina-based Fidelity Bank to resolve allegations the mortgage lender engaged in unfair lending practices against minority applicants.

  • “Bridging the Gap: Technology, Financial Literacy & Underserved Populations”

    April 22, 2016 / Source: Federal Reserve Board

    Remarks by Martin J. Gruenberg Chairman, Federal Deposit Insurance Corporation at the Financial Services Roundtable, included how to bridge the gap in the areas of technology and financial literacy among underserved youth.

  • Matthew J. Eichner appointed new director of Division of Reserve Bank Operations and Payment Systems

    April 22, 2016 / Source: Federal Reserve Board

    The Federal Reserve Board on Thursday announced the appointment of Matthew J. Eichner as director of its Division of Reserve Bank Operations and Payment Systems, effective May 1, 2016.

  • UT- Austin Wins HUD’S Innovation in Affordable Housing Student Design and Planning Competition

    April 21, 2016 / Source: HUD

    The U.S. Department of Housing and Urban Development (HUD) announced a graduate student team from the University of Texas at Austin the winners of HUD’s third annual Innovation in Affordable Housing Student Design and Planning Competition.

  • CFPB Finds Half of Online Payday Borrowers Rack Up an Average of $185 in Bank Penalties

    April 21, 2016 / Source: CFPB

    Consumer Financial Protection Bureau (CFPB) issued a report that found that attempts by online lenders to debit payments from a consumer’s checking account add a steep, hidden cost to online payday loans.

  • Federal Reserve Announces Off-Site Loan Review Process

    April 20, 2016 / Source: Federal Reserve

    Federal Reserve sent a letter out yesterday to all State Member Banks (SMB's) and U.S. branches and agencies of foreign banking organizations (FBOs) with less than $50 billion in total assets. Only these institutions have an option to have Federal Reserve examiners review loan files off-site during full-scope or target examinations.

  • Visa Speeds Up Checkout Times

    April 20, 2016 / Source: Visa Inc.

    At the Electronic Transaction Association’s TRANSACT 16 event, Visa Inc. (NYSE:V) announced the launch of Quick Chip for EMV, a technology enhancement that optimizes EMV®1 chip card processing and speeds up checkout times.

  • FDIC: Weekly National Rates and Rate Caps

    April 19, 2016 / Source: FDIC

    On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC.

  • Agencies Announce Determinations and Provide Feedback on Resolution Plans

    April 19, 2016 / Source: FDIC

    The Federal Deposit Insurance Corporation and the Federal Reserve Board on Wednesday jointly announced determinations and provided firm-specific feedback on the 2015 resolution plans of eight systemically important, domestic banking institutions.

  • OCC Enforcement Actions and Terminations for April 2016

    April 18, 2016 / Source: OCC

    he Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

  • Counterfeit Cashier’s Checks of Pioneer Bank, Roswell, N.M.

    April 18, 2016 / Source: OCC

    The above-named bank has reported that several versions of counterfeit cashier’s checks using a correct routing number of 312270463 are being presented for payment nationwide in connection with a scam involving online mystery shopping employment.

  • OCC Hosts Mutual Savings Association Advisory Committee Meeting on May 3

    April 15, 2016 / Source: OCC

    The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, May 3, 2016, beginning at 8:30 a.m. (Eastern).