Compliance Definition FDIC Regional 
CFPB Monitor
DECEMBER 22, 2020
The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs). Brokered Deposits.
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. Since CRA was enacted in 1977, financial institutions conduct a bevy of qualifying activities that vary from region to region, bank to bank. Expanded Qualifying Activities for CRA Consideration. Key Takeaway.
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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. Since the Community Reinvestment Act was enacted in 1977, financial institutions conduct a bevy of qualifying activities that vary from region to region, bank to bank. Key Takeaway. ” CRA Blog.
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. Under the agency’s final rule, the same facts and circumstances will be evaluated in a similar manner regardless of the particular region or particular examiner.
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.
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