Discrimination and Bias in Residential Lending
The Importance of Assessment Areas
As 2024 gets off the ground, federal regulators are continuing their focus on fair lending issues. In February, the Federal Financial Institutions Examination Council (FFIEC) released a statement on examination principles...more
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank/fintech partnerships by promoting transparency, appellate rights and examiner accountability. On Dec. 14, 2023, a bipartisan group of...more
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability. On December 14, 2023, a bipartisan...more
Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more
In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more
Examiners Should Focus on Risk, Not Technical Perfection - On April 15, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) released updates to the Bank Secretary Act/Anti-Money Laundering (“BSA/AML”)...more
Incorporation Solidifies Customer Due Diligence as “Fifth Pillar” to BSA/AML Compliance Program - May 11, 2018 was the much anticipated effective date for the Customer Due Diligence (“CDD”) Requirements for Financial...more
FDIC bank examinations generally include a focus on the IT systems of banks with a particular focus on information security. The federal banking agencies issued Interagency Guidelines Establishing Information Security...more
On June 24, 2016, in a response letter to Senator Dean Heller (R-NV), Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, highlighted the benefits of consistent cybersecurity supervisory...more
There is no more pressing problem facing business organizations today, of all types, than cybersecurity threats. For a highly regulated industry like banking, regulators are watching closely to see how the IT governance...more
The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more
The Federal Financial Institutions Examination Council (FFIEC) has released its revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revisions clarify supervisory expectations and incorporate...more