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 identifies error in historical dataset used in its 2019 stress tests and issues correction
February 14, 2019 / Source: FRB
The Federal Reserve Board identified an error in the historical dataset used in its 2019 stress tests and issued a correction.
February 14, 2019 / Source: FRB
The Federal Reserve Board in March will begin its Survey of Consumer Finances, a statistical study of household finances that will provide policymakers with important insight into the economic condition of a broad cross section of American families.
Amendments to the Stress Testing Rules for National Banks and Federal Savings Associations: Notice of Proposed Rulemaking
February 13, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) published a notice of proposed rulemaking in the Federal Register on February 13, 2019, that would amend the OCC’s stress testing rule at 12 CFR 46.
FDIC Extends Comment Period Related to its Request for Information on the Deposit Insurance Application Process
February 13, 2019 / Source: FDIC
The Federal Deposit Insurance Corporation (FDIC) has extended the comment period related to the Request for Information (RFI) on the Deposit Insurance Application Process until March 31. The RFI is part of the FDIC's ongoing efforts to enhance transparency, efficiency, and accountability.
February 12, 2019 / Source: OCC
Five federal regulatory agencies issued a joint final rule to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 requiring regulated institutions to accept certain private flood insurance policies in addition to National Flood Insurance Program policies.
February 12, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) will host two workshops in Milwaukee, Wisconsin, at the Hilton Garden Inn Milwaukee Downtown, March 26 and 27, for directors of national community banks and federal savings associations supervised by the OCC.
February 11, 2019 / Source: OCC
Comptroller of the Currency Joseph Otting today issued the following statement supporting Director Kathy Kraninger and the Consumer Financial Protection Bureau’s proposed rule rescinding requirements that lenders make certain underwriting determinations before issuing short-term small-dollar loans.
February 11, 2019 / Source: CFPB
The Consumer Financial Protection Bureau is proposing to rescind certain provisions of its 2017 final rule governing “Payday, Vehicle Title, and Certain High-Cost Installment Loans.”
February 08, 2019 / 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 issuing a notice of proposed rulemaking that would provide a simplified measure of capital adequacy for qualifying community banking organizations consistent with section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
February 08, 2019 / Source: CFPB
Free credit monitoring, medical debt credit reporting restrictions, and mortgage protections for those recently back from active duty.
South Florida Resident Convicted of $100 Million International Fraud Scheme that Led to Collapse of One of Puerto Rico’s Largest Banks
February 07, 2019 / Source: FDICIG
A Key Biscayne, Florida resident was found guilty yesterday by a federal jury for his role in a $100 million scheme to defraud Westernbank of Puerto Rico (Westernbank); the losses triggered a series of events leading to Westernbank’s insolvency and ultimate collapse.
February 07, 2019 / Source: FRB
The Federal Reserve Board on Thursday announced the execution of the enforcement action.
February 07, 2019
This presentation will cover the advertising requirements found within Regulation Z (“Reg. Z”) including the provisions within Reg. Z in respect to advertising touch upon points such as: terms actually available under the loan; electronic advertisements; and “triggering” terms. The webinar will touch on the three major areas of the Reg. Z advertising rules: general, open-end loans; home equity lines of credit (“HELOC”); and closed-end loans and how the rules within each of these areas are similar, yet differ in important ways. Additionally, the presentation will cover Anti-Tying requirements as concerns related to when products are conditioned purchase of another product is a frequently asked question on the hotline.
Proposed Rulemaking to Revise the Deposit Insurance Assessment System to Apply the Community Bank Leverage Ratio Framework
February 06, 2019 / Source: FDIC
On December 18, 2018, the FDIC Board of Directors authorized publication of a Notice of Proposed Rulemaking (NPR) that would apply the Community Bank Leverage Ratio (CBLR) framework proposed by the FDIC, Federal Reserve, and OCC (the Federal banking agencies) on November 21, 2018, to the deposit insurance assessment system. Comments on this NPR will be accepted for 60 days after publication in the Federal Register.
Federal Reserve Board releases scenarios for 2019 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises
February 06, 2019 / Source: FRB
The Federal Reserve Board on Tuesday released the scenarios banks and supervisors will use for the 2019 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises.
February 06, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions.
February 05, 2019 / 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).
February 05, 2019 / Source: FRB
The Federal Reserve Board on Tuesday announced the execution of the enforcement action.
February 04, 2019 / Source: FDIC
The FDIC and the Board of Governors of the Federal Reserve System jointly are providing an advisory on Voluntary Private Education Loan Rehabilitation Programs to make financial institutions aware of an amendment to section 623 of the Fair Credit Reporting Act (FCRA).
Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules: Notice of Proposed Rulemaking
February 04, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) published a notice of proposed rulemaking in the Federal Register on January 31, 2019, that would increase the major assets prohibition thresholds for management interlocks in the OCC’s rule implementing the Depository Institution Management Interlocks Act (DIMIA).
February 01, 2019 / Source: OCC
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of January 1, 2019 through January 31, 2019.
February 01, 2019 / Source: CFPB
Canadian and Maltese-based Payday Lenders Alleged to Have Deceptively and Unfairly Marketed and Collected on Loans, Barred From Lending to U.S. Residents
January 31, 2019 / Source: FDIC
The FDIC is hosting a webinar for financial institutions on February 19, 2019, from 2:00 p.m. to 3:00 p.m. Eastern Time. This webinar will provide an update on the standardized export of imaged loan documents initiative, which was first introduced in Financial Institution Letter (FIL)-22-2018: Advisory: FDIC Conducting Testing of the Standardized Export of Imaged Loan Documents.
OCC Allows National Banks and Federal Savings Associations Affected by Severe Winter Weather to Close
January 31, 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 winter weather in the Midwest and Northeast regions of the United States to close.
January 30, 2019 / Source: FRB
Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate.