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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Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review (CCAR)
May 31, 2019 / Source: FRB
Results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Friday, June 21, and the results from the related Comprehensive Capital Analysis and Review (CCAR) will be released on Thursday, June 27, the Federal Reserve Board announced on Friday. Results for both exercises will be announced at 4:30 p.m. EDT.
May 31, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in April. There are no administrative hearings scheduled for June 2019.
Agencies Issue Final Rule Regarding the Treatment of Certain Municipal Obligations as High-Quality Liquid Assets
May 31, 2019 / Source: OCC
The federal bank regulatory agencies issued a final rule that will adopt without change the agencies’ interim final rule issued in August 2018, amending their liquidity coverage ratio (LCR) rules to treat certain eligible municipal obligations as high-quality liquid assets (HQLA).
May 31, 2019 / Source: FRB
On May 30, 2019, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point.
May 30, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter of 2019 and fourth quarter of 2019.
May 30, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2019.
May 29, 2019 / Source: CFPB
The Consumer Financial Protection Bureau (Bureau) today announced a settlement with BSI Financial Services (BSI), a mortgage servicer headquartered in Irving, Texas. BSI Financial Services is the operating name for Servis One, Inc.
May 29, 2019 / 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 15, 2018.
OCC Allows National Banks and Federal Savings Associations Affected by Flooding in the South Central United States to Close
May 29, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected by severe flooding in the South Central United States to close.
Bank CEO Stephen M. Calk Charged With Corruptly Soliciting A Presidential Administration Position In Exchange For Approving $16 Million In Loans
May 28, 2019 / Source: DOJ
Audrey Strauss, the Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), and Patricia Tarasca, the Special Agent-in-Charge of the New York Region for the Federal Deposit Insurance Corporation Office of Inspector General (“FDIC OIG”), announced today the unsealing of an indictment charging STEPHEN M. CALK with financial institution bribery for corruptly using his position as the head of a federally insured bank to issue millions of dollars in high-risk loans to a borrower in exchange for a personal benefit: assistance from the borrower in obtaining a senior position with an incoming presidential administration.
Ex-Mirae Bank Executive Sentenced to More than 5 Years in Prison for Loan Fraud that Caused Large Losses to the Bank
May 28, 2019 / Source: FDICIG
The former chief marketing officer at the now-defunct Mirae Bank was sentenced today to 70 months in federal prison for his role in a scheme that caused the Koreatown-based lender to issue more than $15 million in fraudulent loans, and ultimately caused the bank to suffer severe losses.
Office of the Comptroller of the Currency Issues Final Rule to Enhance Business Flexibility for Federal Savings Associations
May 24, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) has issued a final rule that provides more business flexibility to federal savings associations.
Federal Reserve Board releases results of survey of senior financial officers at banks about strategies and practices for managing reserve balances
May 24, 2019 / Source: FRB
The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances.
Consumer Financial Protection Bureau Launches Financial Education Tool for Active-Duty Servicemembers
May 23, 2019 / Source: CFPB
Today the Consumer Financial Protection Bureau (CFPB) significantly expanded its Misadventures in Money Management financial education tool to active-duty servicemembers.
May 23, 2019 / Source: FRB
The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in May. These operations are aimed at ensuring the operational readiness of the TDF and providing eligible institutions with an opportunity to maintain familiarity with term deposit procedures.
May 23, 2019 / Source: FDIC
he Federal Deposit Insurance Corporation (FDIC) has resolved a lawsuit with Advance America, Cash Advance Centers, Inc.; Check Into Cash, Inc.; and Northstate Check Exchange. Advance America et al. v. Federal Deposit Insurance Corporation et al. (D.D.C.).
May 22, 2019 / Source: OCC
The above-named bank has reported that counterfeit cashier’s checks using the bank’s routing number of 081906275 are being presented for payment nationwide in connection with a variety of online auction and job opportunity scams.
May 22, 2019 / Source: CFPB
The Bureau is publishing its Spring 2019 Agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget.
May 22, 2019 / Source: FRB
The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 30-May 1, 2019.
May 21, 2019 / Source: FDIC
The FDIC's Division of Depositor and Consumer Protection (DCP) will conduct an interagency webinar scheduled for Tuesday, June 18, 2019, that will focus on the recently issued interagency final rule on private flood insurance.
May 21, 2019 / Source: OCC
Senior Deputy Comptroller for Bank Supervision Policy Grovetta N. Gardineer today discussed efforts to protect the financial system from being misused for illegal purposes during a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
May 20, 2019 / Source: FDIC
The FDIC's Office of Minority and Women Inclusion (OMWI) prepared a video that is available on the FDIC YouTube Channel.
May 20, 2019 / Source: NACHA
The Nacha Operating Rules (Rules) require all Originating Depository Financial Institutions (ODFI) to register their Third-Party Sender (TPS) relationships, or state that they do not have any with Nacha.
May 17, 2019
This session will discuss common issues with TRID since the amendments that were in October of 2018. This presentation will hit common issues from TRID “classic” like the scope of the rule. Common misconceptions like needing to get signatures and general cover the changes and the FAQs. The presentation will include scenarios based off frequently asked questions on our hotline.
May 17, 2019 / Source: CFPB
he Consumer Financial Protection Bureau today filed a lawsuit in the federal district court in the Eastern District of New York against Forster & Garbus, LLP, a New York debt-collection law firm.