The FDIC, OCC, and U.S. Department of Justice (DOJ) have coordinated the release of new policies that will govern each agency’s consideration of bank merger transactions. The FDIC and OCC each published final statements of...more
9/30/2024
/ Bank Accounts ,
Bank Merger Act ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Deposit Accounts ,
Electronic Fund Transfer Act ,
FDIC ,
Federal Reserve ,
FFIEC ,
Financial Institutions ,
Information Technology ,
International Remittance Transfers ,
Mergers ,
OCC ,
Overdraft Fees ,
Proposed Rules ,
Public Comment ,
Recordkeeping Requirements ,
Regulation E
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 CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more
6/28/2024
/ Automated Systems ,
Banking Sector ,
Banks ,
Compliance ,
Consumer Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
FDIC ,
FFIEC ,
Final Rules ,
HMDA ,
Mortgage Loan Originators ,
Mortgages ,
Open Banking ,
Property Valuation ,
Regulation C ,
Reporting Requirements ,
Residential Real Estate Market ,
Small Business ,
Small Business Loans ,
State Charters ,
Unenforceable Contract Terms
The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more
2/29/2024
/ Banking Sector ,
Banks ,
Beneficial Owner ,
Bias ,
Class Action ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Depository Institutions ,
Due Diligence ,
EGRPRA ,
Enforcement Actions ,
Fees ,
FFIEC ,
Financial Services Industry ,
FinCEN ,
Mortgage Lenders ,
Mortgages ,
New Guidance ,
Overdraft Fees ,
Race Discrimination ,
Redlining ,
Regulatory Burden ,
Risk Management ,
Third-Party Risk
A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more
8/31/2023
/ Bank Holding Company ,
BSA/AML ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Due Diligence ,
FDIC ,
Federal Reserve ,
FFIEC ,
Final Rules ,
Financial Services Industry ,
FinTech ,
Foreign Banks ,
Funding ,
New Guidance ,
OCC ,
Proposed Rules ,
Small Business ,
Small Business Loans ,
Supervision
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
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
1/28/2022
/ Banking Examinations ,
Banks ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
Depository Institutions ,
Digital Currency ,
FDIC ,
Federal Reserve ,
Federal Savings Associations ,
Fees ,
FFIEC ,
Final Rules ,
Financial Institutions ,
FinCEN ,
Public Comment ,
Transaction Fees
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
HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners -
The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more
2/25/2021
/ Bank Secrecy Act ,
Banking Sector ,
Benchmarks ,
Call Reports ,
CARES Act ,
Coronavirus/COVID-19 ,
Current Expected Credit Losses (CECL) ,
Deposit Insurance ,
Disparate Impact ,
Fair Housing Act (FHA) ,
FDIC ,
FFIEC ,
Financial Institutions ,
FinCEN ,
Guidance Update ,
HUD ,
Libor ,
Mortgage Lenders ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Public Health Emergency ,
Time Extensions ,
USDA ,
Veterans Administration
Federal Court Dismisses Class Action Claims Against PPP Lenders for Agent Fees -
A federal court in Florida has dismissed claims made in a class action lawsuit against several banks and other Small Business Administration...more
8/27/2020
/ Banking Regulators ,
Banking Sector ,
BSA/AML ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
FDIC ,
FFIEC ,
Financial Institutions ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Qualified Mortgage Rule ,
Relief Measures
Federal Reserve Revises Framework for Determining Control of a Banking Organization
The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
2/27/2020
/ Bank Holding Company Act ,
Banking Sector ,
CFTC ,
Comment Period ,
Community Reinvestment Act ,
Fannie Mae ,
FDCPA ,
FDIC ,
Federal Reserve ,
FFIEC ,
FHFA ,
Financial Institutions ,
Freddie Mac ,
Ginnie Mae ,
HMDA ,
Mortgage Lenders ,
Mortgages ,
NPRM ,
OCC ,
Securities and Exchange Commission (SEC) ,
Time-Barred Debt ,
Volcker Rule
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
Federal Banking Agencies Expand Eligibility to Use Streamlined Call Reports -
The federal banking agencies have adopted a final rule to reduce regulatory reporting requirements for certain banks with total assets of less...more
6/27/2019
/ Best Interest Standard ,
Broker-Dealer ,
Call Reports ,
Community Banks ,
Disclosure Requirements ,
EGRRCPA ,
FDIC ,
FFIEC ,
Final Rules ,
Financial Institutions ,
Liquidity Coverage Ratio ,
Mortgage Lenders ,
Mortgages ,
Municipal Bonds ,
Municipalities ,
New Guidance ,
OCC ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
Federal Banking Agencies Propose Alternative Capital Framework for Community Banks -
The federal banking agencies have proposed a new community bank leverage ratio (“CBLR”) framework that would simplify regulatory capital...more
12/3/2018
/ Appraisal ,
Bank Deposits ,
Banking Sector ,
Call Reports ,
Class Action ,
Community Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
Depository Institutions ,
Dodd-Frank ,
EGRRCPA ,
FDIC ,
Federal Reserve ,
FFIEC ,
Inflation Adjustments ,
Overdraft Fees ,
Regulation M ,
Regulation Z ,
Residential Real Estate Market
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
Economic Growth, Regulatory Relief, and Consumer Protection Act Signed into Law
President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “EGRRCPA”) on May 24. The EGRRCPA...more
5/31/2018
/ Banking Sector ,
Best Interest Standard ,
Broker-Dealer ,
BSA/AML ,
Community Banks ,
Consumer Financial Products ,
Customer Due Diligence (CDD) ,
Depository Institutions ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
FASB ,
FFIEC ,
Investment Advisers Act of 1940 ,
Leverage Ratio ,
Military Lending Act ,
Military Service Members ,
New Guidance ,
Regulation CC ,
Securities and Exchange Commission (SEC)
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
Massachusetts Voters Approve Legalization of Marijuana for Recreational Purposes -
Massachusetts voters have approved a ballot initiative legalizing the use of marijuana for recreational purposes, which will become law...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
FDIC Proposes Expansion of Third-Party Lending Examinations -
The FDIC has extended the public comment period on proposed examination guidance that would significantly expand the scope of examinations of banks’...more
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