Community Banks

News & Analysis as of

We’re From the Government and We’re Here to Ease Your Regulatory Burden

Why it matters - The Office of the Comptroller of the Currency (OCC) is trying to make life easier for community banks, Comptroller Thomas J. Curry recently explained in a speech, working on legislation that would...more

Financial Regulatory Developments Focus - April 2015 #2

In this issue: - US Federal Reserve Board Expands Applicability of Small Bank Holding Company Policy Statement - US Federal Reserve Board Requests Public Comment on Proposed Amendments to Regulation D -...more

Fed Eases Small Bank M&A Rules

The Board of Governors of the Federal Reserve Board has modified its Small Bank Holding Company Policy Statement to facilitate the sale of smaller community banks. Under the final rule, a holding company with less than...more

FFIEC’s Seven Cybersecurity Priorities for 2015

While others were waiting for spring to arrive, community bank officers and directors were waiting for the Federal Financial Institutions Examination Council (FFIEC) to provide additional guidance on its cybersecurity...more

Comptroller Curry Remarks on OCC Assistance to Mutual Savings Associations and Community Banks

On March 23, OCC Comptroller Curry delivered remarks at the ABA Mutual Community Bank Conference regarding the agency’s supervision of mutual savings associations and community banks. Curry focused on the agency’s ongoing...more

FinCEN Fines Community Bank Over BSA Violations

On February 27, FinCEN announced a $1.5 million civil money penalty against a Pennsylvania-based community bank for violating the BSA. Of that amount, $500,000 will go to the OCC, the bank’s primary regulator, for BSA...more

FinCEN Targets Community Bank - $1.5 Million Penalty for Failure to File Suspicious Activity Reports

On February 27, 2015, the Financial Crimes Enforcement Network (“FinCEN”) announced a $1.5 million civil penalty against the First National Community Bank of Dunmore, Pennsylvania (“FNCB”), arising from FNCB’s admission that...more

Community Banks “Performed Especially Well” During 4th Quarter

On February 24, the FDIC announced fourth quarter earnings for all federally insured institutions, with substantial increases in community bank earnings. Community bank earnings for the fourth quarter rose $1.0 billion to...more

Financial Services Weekly News Roundup - February 2015 #3

The Impact of Regulation on Community Banks: Harvard Study and Senate Banking Committee Hearing Highlight Differing Views. FDIC Director of Risk Management Supervision Doreen Eberley testified last week before the Senate...more

Federal Banking Regulators Testify on “Regulatory Relief”

On February 10, officials from federal and state banking authorities – the Fed, FDIC, NCUA, OCC, and the CSBS – testified at a U.S. Senate Banking Committee on ways the agencies can provide “regulatory relief” to community...more

Federal Reserve Board Invites Comments on Small Bank Holding Company Policy Statement

On January 29, the Board of Governors of the Federal Reserve System (Board) invited public comment on a proposed rule to expand the applicability of the Board’s Small Bank Holding Company Policy Statement (Policy Statement)...more

Financial Services Weekly News Roundup - February 2015 #2

Editor’s Note - FDIC Highlights Efforts to Provide Regulatory Relief for Community Banks: On February 10, 2015, Doreen Eberley, Director at the Federal Deposit Insurance Corporation (FDIC), testified before the U.S....more

Federal Reserve Proposes to Expand the Applicability of Board’s Small Bank Holding Company Policy Statement

On January 29, Federal Reserve Board (Fed) invited public comment on a proposed rule to expand the applicability of the Board’s Small Bank Holding Company Policy Statement (Policy Statement) for small bank holding companies...more

"Managing Regulatory Risk in Bank M&A"

We expect the slowly developing but increasingly perceptible trend toward community and regional bank consolidation in the United States to continue in 2015. In connection with growing bank M&A activity, closing risk in the...more

Opt-Out Election for AOCI Under Basel III Approaches

The beginning of 2015 marked the implementation of Basel III for community banks including the changes to required capital ratios. Although community banks have been preparing for the implementation for months, one of the...more

OCC Appoints Comptroller of Troubled Banks

On January 26, the OCC named Michael Brickman as the Deputy Comptroller for Special Supervision. In his role, Brickman will manage the supervision of the OCC’s most problematic midsize and community banks, and will oversee...more

Locke Lord QuickStudy: Collaborators Beware - OCC Encourages Community Banks to Collaborate

On January 13, 2015, the Office of the Comptroller of the Currency (OCC) released a paper strongly encouraging community banks to consider ways in which they can collaborate to reduce costs, promote expertise, and enhance...more

NY Attorney General Announces Agreement To End Bank’s Alleged Mortgage Redlining

On January 19, the New York Attorney General (AG) announced an agreement with a New York-based community bank that the AG alleged had excluded predominantly minority neighborhoods from its mortgage lending business. ...more

OCC Publishes Paper on Community Bank Collaboration

On January 13, the OCC released a paper entitled, “An Opportunity for Community Banks: Working Together Collaboratively.” The paper describes how community banks can pool resources to “obtain cost efficiencies and leverage...more

OCC Provides Workshops to National Community Bank Directors

On January 14, the OCC released its schedule of workshops for directors of national community banks and federal savings associations. The OCC examiner-led workshops provide practical training and guidance to directors of...more

CFPB seeking new members for advisory groups

The CFPB has published a notice in the Federal Register announcing that it is seeking applications from persons interested in becoming members of its Consumer Advisory Board, Community Bank Advisory Council, or Credit Union...more

Sharing is Caring: The OCC Testifies Before the Senate Banking Committee

On December 10, 2014, Valerie Abend, Senior Critical Infrastructure Officer for the Office of the Comptroller of the Currency (OCC) testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on the...more

Treasury: Ten Questions for Bank Executives and Boards of Directors

On December 3, 2014, Sarah Raskin, Deputy Secretary of the U.S. Department of Treasury (Treasury), gave a speech before the Texas Banker’s Association Executive Leadership Cybersecurity Conference. Deputy Secretary Raskin’s...more

Executive Compensation – It May be Limiting Your Choices

Many community banks have been under fire recently. Added regulatory burdens, additional disclosure responsibilities, cleaning up bad loans, streamlining the organization, staying ahead of cybersecurity threats, and, perhaps...more

Community Banks Adding Prepaid Products Face New Imperatives

It has been well-known in banking compliance law that the Consumer Financial Protection Bureau (“CFPB”) has been planning to issue substantial consumer protection rules with respect to prepaid products. That time has now...more

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