PYMNTS

DECEMBER 3, 2019

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance.

Regulation 137

Regulation Guidelines FDIC Conference 137

CFPB Monitor

DECEMBER 2, 2021

As anticipated, the OCC, Federal Reserve Board, and FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”). Banking entities should closely review the definitions in this Final Rule to determine whether they fall within its scope.

Regulation 78

Regulation Report FDIC Security 78

Social Assurance

MAY 22, 2020

While the FDIC and Federal Reserve did not join the OCC in releasing this rule, they have released their proposed rule. Definite, objective guidelines are established across several different tests to help auditors better review bank performance. Therefore, the removal of these disparities is a top priority of the final rule.

Compliance 29

Compliance Regulation Community Guidelines 29

FICO

JANUARY 13, 2020

plans to create a reassigned number database ), the “autodialer” definition continues to remain in limbo. The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. I say Congress gets a deal done in 2020.

Policies 52

Policies Las Vegas FDIC Washington 52

Social Assurance

JULY 10, 2020

While the FDIC and Federal Reserve did not join the OCC in releasing this rule, they have released their proposed rule. Definite, objective guidelines are established across several different tests to help auditors better review bank performance. Therefore, the removal of these disparities is a top priority of the final rule.

Compliance 15

Compliance Regulation Community Guidelines 15

CFPB Monitor

JUNE 15, 2020

The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule. Therefore, the final rule does not include middle-income rental housing in high-cost areas components of the affordable housing criterion or the definition of high-cost area.

Community 60

Community FDIC Lending Examples 60

Javelin Strategy & Research

SEPTEMBER 2, 2014

I’m not a compliance expert and am equally inexperienced on such pan-industry areas such as lending or payday loans, yet I do know how digital innovation changes the value proposition for all participants in the industry. Definitely not. Impossible? Likely to be sometimes frustrating to a Silicon Valley person? Absolutely!

Innovation 58

Innovation DC FDIC Strategy 58

PYMNTS

JUNE 14, 2018

That, he said, is not the nature or definition of cash, which is a non-personal, immediate tender that leaves no trace – a very appealing quality in today’s privacy-concerned world. A certain amount of anonymity must be sacrificed to meet regulations like anti-money laundering (AML) compliance standards.

Tools 118

Tools Virginia Cards Payments 118

CFPB Monitor

APRIL 28, 2022

In 2005, the federal prudential regulators—including the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC)—issued Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice.

Report 147

Report FDIC Regulation Security 147

Independent Banker

JANUARY 31, 2023

Learn what this means for the industry and how community banks can stay in compliance. Sound compliance management requires consistent written disclosures, procedures and actual practices. The Circular will definitely have a regulatory impact on community banks, even without the supervisory oversight of the CFPB.”

Community Bank 91

Community Bank Community Compliance Regulation 91

Abrigo

SEPTEMBER 14, 2022

The data is intended to help the CFPB enforce fair lending laws and could also be used by the government and small business lenders to identify the needs of businesses, said Michelle Lucci, Abrigo Regulatory Compliance Manager. It isn’t just a compliance program problem or a data management problem. Points of Note. Learn More.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

JUNE 25, 2020

The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. Until compliance with the final rule, national banks and federal savings banks must comply with the OCC’s current rule. These banks conduct a majority of all CRA activity in the United States.

Community 97

Community Lending Meeting Retail 97

CFPB Monitor

JULY 6, 2020

These actions could include, but are not limited to, updated compliance aids, policy statements, or other guidance.”. Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z). The Bureau recently took action on the following items listed in the agenda: Higher-Priced Mortgage Loan Escrow Exemption.

Regulation 78

Regulation Policies FDIC Lending 78

Jeff For Banks

JULY 20, 2012

The regulatory definition of "well capitalized" has not changed post financial crisis. The FDIC IMCR commonly required a Tier 1 leverage ratio of 8%, and total risk-based ratio of 12%. If Basel is adopted according to its timetable, FIs will have to be in full compliance by the end of 2018. Better get your popcorn.

Capital 86

Capital Regulation FDIC Groups 86

CFPB Monitor

OCTOBER 13, 2020

Supporters point out the Proposed Rule would result in strong and consistent supervision of bank-fintech partnerships across the country, ensuring fairness and compliance with applicable laws, and note the Proposed Rule would keep the costs of credit down and encourage innovation.

Lending 60

Lending Colorado FDIC National 60

FICO

DECEMBER 19, 2018

I expect the FCC to issue a declaratory ruling in the first half of 2019 that will provide much needed clarity around the definition of Automatic Telephone Dialing System. The next step? Bank Secrecy Act/anti-money laundering (BSA/AML) regulatory reforms are top of mind for regulators and legislators.

Policies 40

Policies District of Columbia Regulation California 40