CFPB Issues Filing Instructions Guide for Small Business Lending Data -
The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more
9/3/2024
/ Advisory Opinions ,
Banking Sector ,
Banks ,
Consumer Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cybersecurity ,
Data Collection ,
Dodd-Frank ,
Excessive Fees ,
FDIC ,
Fees ,
FFIEC ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Hidden Fees ,
NIST ,
Predatory Lending ,
Proposed Rules ,
Regulatory Standards ,
Small Business ,
Solar Panels ,
Tax Credits
The federal banking agencies have published new guidance to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology (fintech) companies. The new...more
6/30/2023
/ Banking Regulators ,
Banking Sector ,
Banks ,
Collateral ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Mortgages ,
NCUA ,
New Guidance ,
OCC ,
Property Valuation ,
Risk Assessment ,
Third-Party Risk
New CFPB Guidance Identifies Fee Practices That Constitute UDAAP Violations The CFPB has issued new guidance about what it pejoratively characterizes as “junk fee” practices by banks that the agency believes are likely to...more
10/31/2022
/ Banking Sector ,
Clawbacks ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Cybersecurity ,
Deposit Insurance ,
FDIC ,
FFIEC ,
Personal Data ,
Ransomware ,
Securities and Exchange Commission (SEC) ,
UDAAP
Headlines:
..OCC Publishes Security Standards for Video Teleconferencing With Agency Staff
..CFPB Imposes Civil Penalty and Customer Refunds for Authorized-Positive Overdraft Fees
..Treasury Department Recommends...more
9/30/2022
/ Banking Sector ,
Civil Monetary Penalty ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Digital Assets ,
Disclosure Requirements ,
Enforcement Actions ,
Executive Compensation ,
Financial Institutions ,
Financial Services Industry ,
OCC ,
Overdraft Fees ,
Refunds ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Teleconferences ,
Total Shareholder Return (TSR) ,
U.S. Treasury
Federal Banking Agencies Publish Policy Road Map for Crypto-Asset Activities -
The federal banking agencies have issued a joint statement summarizing their interagency “policy sprints” focused on crypto-asset activities...more
11/30/2021
/ Banking Sector ,
Banks ,
Biden Administration ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptoassets ,
Cybersecurity ,
FDIC ,
Forbearance Agreements ,
Investment Funds ,
Mortgage Servicers ,
Mortgages ,
Notice Requirements ,
OCC ,
Prudential Regulation Authority (PRA) ,
Regulation X ,
Stablecoins ,
Venture Capital ,
Volcker Rule ,
Working Groups
Division of Banks Warns of Risks from Representments Causing Multiple NSF Fees -
The Massachusetts Division of Banks has issued a supervisory alert letter to warn banks about certain legal risks and risks of regulatory...more
9/29/2021
/ Banking Sector ,
Community Banks ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Dodd-Frank ,
ECOA ,
FDIC ,
Federal Reserve ,
Fees ,
FinTech ,
HMDA ,
Marijuana Related Businesses ,
NDAA ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Overdraft Fees ,
Proposed Rules ,
Ransomware ,
Regulation B ,
SBA ,
SDN List ,
Small Business
Supreme Court Strikes Down Extension of CDC Moratorium on Evictions -
The U.S. Supreme Court has issued a ruling that blocks the extension of the moratorium on evictions ordered by the Centers for Disease Control and...more
8/30/2021
/ Alabama Association of Realtors v Department of Health and Human Services ,
Banking Regulators ,
Banking Sector ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Due Diligence ,
Eviction ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinTech ,
Libor ,
Moratorium ,
Regulatory Authority ,
Residential Leases ,
SBA ,
SBA Lending Programs ,
SCOTUS
SBA Adopts Streamlined Loan Forgiveness Procedures for PPP Loans of $50,000 or Less -
The U.S. Small Business Administration (“SBA”) has adopted an interim final rule to streamline the loan forgiveness application process...more
10/29/2020
/ Appraisal ,
Bank Holding Company ,
Bank Secrecy Act ,
Banking Sector ,
Community Reinvestment Act ,
Compliance ,
Coronavirus/COVID-19 ,
Cybersecurity ,
FinCEN ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
True Lender
The COVID – 19 virus and efforts intended to slow or stop the spread of the virus have presented numerous challenges for credit unions – including, in many cases, first-time execution of business continuity plans; protecting...more
The FFIEC recently issued updated guidance on actions that banks should take to minimize the potential adverse effects of a pandemic. The Interagency Statement on Pandemic Planning (“Interagency Statement”) released on March...more
3/16/2020
/ Banking Sector ,
Banks ,
Business Continuity Plans ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Cybersecurity ,
Emergency Management Plans ,
Emergency Response ,
Employer Responsibilities ,
Financial Institutions ,
Interagency Guidance ,
Internal Communications ,
Public Communications ,
Public Health ,
Workplace Safety
The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more
1/30/2020
/ Auditors ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Cybersecurity ,
Data Breach ,
Dodd-Frank ,
FDIC ,
Federal Savings Associations ,
FFIEC ,
Financial Abuse ,
Financial Institutions ,
Insurance Industry ,
Legal Opinion ,
New Guidance ,
OCC ,
Payment Systems ,
Popular ,
Reporting Requirements ,
Risk Management ,
Third-Party Service Provider ,
Transaction Fees
Agencies Issue Joint Statement on BSA/AML Resource Sharing Arrangements -
The federal banking agencies, along with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the NCUA, have...more
10/31/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Business Licenses ,
Cole Memorandum ,
Comment Period ,
Cybersecurity ,
Department of Justice (DOJ) ,
Dispensaries ,
Electronic Payment Transactions ,
Federal Reserve ,
FFIEC ,
FinCEN ,
FIRREA ,
HVCRE ,
HVCRE Loans ,
Joint Statements ,
Marijuana Related Businesses ,
NIST ,
Payment Systems ,
Property Valuation
Treasury Report Recommends Changes to Community Reinvestment Act Rules -
The U.S. Department of the Treasury has released a report recommending changes to the federal banking agencies’ rules that implement the Community...more
4/27/2018
/ Bank Secrecy Act ,
Banking Sector ,
Commercial Real Estate Contracts ,
Community Reinvestment Act ,
Customer Due Diligence (CDD) ,
Cyber Insurance ,
Cybersecurity ,
Decriminalization of Marijuana ,
EU ,
Federal Budget ,
FFIEC ,
FinCEN ,
General Data Protection Regulation (GDPR) ,
Medical Marijuana ,
Proposed Legislation ,
U.S. Treasury
Court Overturns RESPA Ruling and Holds That the CFPB is Unconstitutionally Structured
The United States Court of Appeals for the District of Columbia Circuit has overturned an enforcement action under Section 8 of the...more
The Federal Reserve Board has released a policy statement that details the framework it will follow in setting the Countercyclical Capital Buffer (“CCB”) for private-sector credit exposures located in the United States. The...more
9/30/2016
/ Banking Sector ,
BSA/AML ,
Capital Requirements ,
Community Banks ,
Cybersecurity ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinTech ,
Mortgage Lenders ,
OCC ,
Online Marketplace Lending
FinCEN has released guidance in the form of answers to frequently asked questions (“FAQs”) about new customer due diligence (“CDD”) requirements that became effective this month. The CDD FAQs issued on July 19 clarify new...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. Agencies Publish Proposed Rule to Limit Incentive-Based Compensation Arrangements
2. Guidance on New...more
7/1/2016
/ Accounting Standards ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Federal Reserve ,
Incentive Compensation ,
New Guidance ,
Payday Loans ,
Proposed Regulation ,
Risk Management ,
Unfair or Deceptive Trade Practices
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines -
1. DOB Revises Guidance on Branch and Main Office Notices and Applications -
2. FDIC Updates...more
11/30/2015
/ Banks ,
Brokered Deposits ,
Condominiums ,
Cybersecurity ,
FASB ,
FDIC ,
Federal Housing Administration (FHA) ,
FFIEC ,
Loans ,
Mortgages ,
Risk Management