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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  • Comptroller Discusses Efforts to Promote Community Revitalization

    June 30, 2016 / Source: OCC

    Comptroller of the Currency Thomas J. Curry today discussed efforts to promote community revitalization through responsibly innovative funding and other assistance to support rehabilitation of homes in distressed communities. The remarks came during his appearance at the Community Development Corporation of Long Island’s Annual Lenders Forum.

  • Federal Open Market Committee Announces its Tentative Meeting Schedule for 2017

    June 30, 2016 / Source: Federal Reserve Board

    The Federal Open Market Committee on Tuesday announced its tentative meeting schedule for 2017.

  • Federal Reserve Releases Results of Comprehensive Capital Analysis and Review

    June 30, 2016 / Source: Federal Reserve

    The Federal Reserve Board on Wednesday announced it has not objected to the capital plans of 30 bank holding companies participating in the Comprehensive Capital Analysis and Review (CCAR). The Board objected to two firms' plans. One other firm's plan was not objected to, but the firm is being required to address certain weaknesses and resubmit its plan by the end of 2016.

  • FDIC Amends Civil Money Penalty Amounts for Inflation

    June 29, 2016 / Source: Federal Register

    The Federal Deposit Insurance Corporation is amending its rules of practice and procedure under to adjust the maximum amount of each civil money penalty within its jurisdiction to account for inflation. This action is required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Adjustment Act). This interim final rule adjusts the maximum limit for CMPs according to inflation as mandated by Congress in the 2015 Adjustment Act.

  • FDIC Provides Regulatory Relief Guidance to Help Financial Institutions in Areas of West Virginia

    June 29, 2016 / Source: FDIC

    The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of West Virginia affected by severe weather. The Federal Deposit Insurance Corporation (FDIC) recognizes the serious impact of severe weather on customers and operations of financial institutions in West Virginia and will provide regulatory assistance to institutions subject to its supervision. These initiatives will provide regulatory relief and facilitate recovery. The FDIC encourages depository institutions in the affected areas to meet the financial services needs of their communities.

  • Federal Reserve Board Announces Termination of Enforcement Actions

    June 28, 2016 / Source: Federal Reserve

    The Federal Reserve Board on Tuesday announced the termination of the enforcement actions with Century Bank of Florida, Tampa, Florida and Pilot Bancshares, Inc. and Pilot Bank, both of Tampa, Florida.

  • FDIC Initiates Small Business Lending Survey

    June 28, 2016 / Source: FDIC

    The Federal Deposit Insurance Corporation (FDIC) today announced the launch of a survey of banks regarding their small business lending practices. The web-based survey of roughly 2,000 randomly selected FDIC-insured banks will begin in late June and will be administered by the U.S. Census Bureau on behalf of the FDIC.

  • HUD and Census Bureau Report New Residential Sales in May

    June 28, 2016 / Source: HUD

    Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This is 6.0 percent below the revised April rate of 586,000 but is 8.7 percent above the May 2015 estimate of 507,000.

  • The House Financial Services Committee Releases the Financial Choice Act Proposal

    June 27, 2016

    This proposed bill is aimed at providing regulatory relief for the financial industry. The bill focuses on 7 key principles. Qualifying banks would be exempt from certain rules and regulations that limit mergers, acquisitions or other transactional activities whenever those limitations are based upon capital or liquidity standards, or upon regulators’ assessment of systemic risk. The regulatory relief provided by the bill would be contingent upon the bank maintaining the specified leverage ratio and ratings.

  • Proposed Rulemaking to Remove References to Credit Ratings from the FDIC’S International Banking Reg

    June 27, 2016 / Source: FDIC

    On June 21, 2016, the FDIC Board of Directors adopted the attached Notice of Proposed Rulemaking (NPR) and request for comment, which would amend the FDIC's international banking regulations related to permissible investment activities and the pledging of assets. The proposed rule would remove references to external credit ratings and replace them with appropriate standards of creditworthiness. The proposed changes in the FDIC Rules and Regulations Part 347, subparts A and B, are consistent with Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Comments will be solicited on this NPR for 60 days following publication in the Federal Register.

  • Federal Reserve is Carefully Monitoring Developments in Global Financial Markets

    June 24, 2016 / Source: Federal Reserve Board

    The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressures in global funding markets, which could have adverse implications for the U.S. economy.

  • Dodd-Frank Act Stress Test Results

    June 24, 2016 / Source: Federal Reserve

    The nation's largest bank holding companies continue to build their capital levels and improve their credit quality, strengthening their ability to lend to households and businesses during a severe recession, according to the results of supervisory stress tests announced by the Federal Reserve Board on Thursday.

  • OCC Hosts Minority Depository Institutions Advisory Committee Meeting

    June 24, 2016 / Source: OCC

    The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, July 12, 2016, beginning at 8:30 a.m., Eastern Daylight Time.

  • Joint Notice of Proposed Rulemaking

    June 23, 2016 / Source: OCC

    The Office of the Comptroller of the Currency (OCC), jointly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Securities and Exchange Commission, and the Federal Housing Finance Agency (collectively, the agencies), published a notice of proposed rulemaking in the Federal Register on June 10, 2016, to implement the incentive-based compensation provisions of section 956 of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act.

  • Comptroller Highlights Effort To Develop A Framework for Evaluating Responsible Innovation

    June 23, 2016 / Source: OCC

    Comptroller of the Currency Thomas J. Curry today highlighted his agency’s effort to develop a framework for identifying and evaluating responsible innovation. His remarks came during the Office of the Comptroller of the Currency’s (OCC) Forum on Responsible Innovation. In addition to the Comptroller’s appearance, the forum brought together thought leaders from banks, financial technology companies, academia, community and consumer groups, and the OCC to discuss developments, opportunities, and challenges related to financial innovation.

  • OCC Community Bank Director Workshop Schedule for 2016

    June 22, 2016 / Source: OCC

    Save these dates for the Office of the Comptroller of the Currency's 2016 workshops for directors of national community banks and federal savings associations. Several workshops are being offered at convenient locations nationwide to enhance and expand your skills as a community bank director. In several cases, workshops occur on consecutive days for those who want to take advantage of more than one workshop in a single location.

  • Beverly F. Cole Named Deputy Comptroller for Compliance Supervision

    June 22, 2016 / Source: OCC

    The Office of the Comptroller of the Currency today announced Beverly F. Cole will become its Deputy Comptroller for Compliance Supervision. In this new role, Ms. Cole will serve as the operational executive responsible for developing and promulgating compliance operational protocols, examination strategies, and schedules. She will oversee a staff implementing bank supervision policy for compliance and establish programs to ensure efficient bank supervision for compliance. She will report to the Senior Deputy Comptroller for Compliance and Community Affairs and takes on these duties in July 2016.

  • Notice of Proposed Rulemaking Net Stable Funding Ratio

    June 21, 2016 / Source: OCC

    The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are seeking comment on a proposed rule that would strengthen the liquidity risk management of large banks and savings associations.

  • Yellen Reports to Congress on Monetary Policy

    June 21, 2016 / Source: Federal Reserve Board

    Yellen addressed Congress yesterday on the country's Monetary Policy and projected outlook. Stating the economy has made progress toward the Federal Reserve's objective of maximum employment. And while inflation has continued to run below our 2 percent objective, the Federal Open Market Committee (FOMC) expects inflation to rise to that level over the medium term. However, the pace of improvement in the labor market appears to have slowed more recently, suggesting that our cautious approach to adjusting monetary policy remains appropriate.

  • CFPB Issues Interim Final Rule to Adjust Civil Penalties for Inflation

    June 20, 2016 / Source: CFPB

    The CFPB has published an interim final rule to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 which, pursuant to a 2015 amendment, requires federal agencies to adjust the civil penalties within their jurisdiction by July 1, 2016 and then by January 15 every year thereafter.

  • CFPB Announces Annual Dollar Thresholds in Truth in Lending Act Regulations

    June 20, 2016 / Source: CFPB

    Consumer Financial Protection Bureau (CFPB) announced its annual adjustments to the dollar amounts of various thresholds under the Truth in Lending Act regulations that will apply to certain consumer credit transactions in 2017. The adjustments are based on the percentage change in Consumer Price Index.

  • Agencies Issue Host State Loan-to-Deposit Ratios

    June 17, 2016 / Source: OCC

    The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year’s ratios, which were released on June 29, 2015.

  • Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

    June 17, 2016 / Source: Federal Reserve Board

    The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation today announced the availability of the 2016 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration as community development.

  • Bill Passes Protecting Individuals Who Report Financial Elder Abuse

    June 17, 2016

    The House Financial Services Committee passed a bill giving immunity from suit to certain Individuals who disclose potential examples of financial exploration of senior citizens. The safe harbor would protect financial professionals who have received relevant training from civil and administrative actions so long as the reports of abuse were made in good faith and with reasonable care. The bill would provide similar protection for institutions.

  • Fair Lending Webinar Now Available!

    June 17, 2016