FDIC Shares Examiners’ Expectations for Contracts with Technology Service Providers -
The FDIC has issued guidance on examiners’ expectations for provisions of contracts between banks and technology service providers...more
5/1/2019
/ Accounting Standards ,
Banking Sector ,
EGRRCPA ,
FDIC ,
Federal Reserve ,
FinTech ,
Global Systemically Important Banks (G-SIBs) ,
HMDA ,
Insolvency ,
Marijuana ,
Marijuana Related Businesses ,
Regulatory Authority ,
Safe Harbors
FFIEC Issues Principles for Examiners in Developing Reports of Examination -
The Federal Financial Institutions Examination Council (“FFIEC”) has issued a policy statement that describes the minimum expectations for what...more
3/29/2019
1. FDIC Proposes Changes to Deposit Insurance Assessment Rule for CBLR Banks
The FDIC has published a proposal that describes how the agency would apply the Community Bank Leverage Ratio (“CBLR”) framework previously...more
2/28/2019
/ Ability-to-Repay ,
Banking Sector ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
CSBS ,
Deposit Insurance ,
Farm Credit Administration ,
FDIC ,
Federal Bank Regulatory Agencies ,
FinTech ,
Flood Insurance ,
Leverage Ratio ,
Payday Loans ,
Prepaid Payment Products ,
Student Loans
New Data Breach Law Requires Free Credit Monitoring for Massachusetts Consumers -
Recent amendments to the Massachusetts data security breach law will require any person – including, in relevant part, any bank or any bank...more
1/31/2019
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Monitoring ,
Data Breach ,
Enforcement ,
Government Shutdown ,
Marijuana ,
Marijuana Related Businesses ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
RESPA
FDIC Approves 3-Year Phase-In for Adverse Effects on Capital from CECL -
The FDIC has approved a final rule that will provide banks with the option to phase in over a three-year period the day-one adverse effects on...more
12/21/2018
/ Banking Examinations ,
Banking Sector ,
Banks ,
BSA/AML ,
Community Banks ,
EGRRCPA ,
FDIC ,
Federal Deposit Insurance Act ,
Final Rules ,
FinCEN ,
Volcker Rule
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
Federal Banking Agencies Issue Joint Statement on the Role of Supervisory Guidance -
The federal banking agencies, along with the CFPB and the NCUA, have issued a joint statement clarifying the role of supervisory...more
Headlines -
...OCC to Begin Accepting Applications for Bank Charters for Fintech Companies
...Agencies Issue Rules Implementing 18-Month Exam Cycles for Community Banks...more
8/31/2018
/ Bank Holding Company ,
Banking Examinations ,
Banking Sector ,
Community Banks ,
EGRRCPA ,
FinTech ,
Fintech Charter ,
Liquidity Coverage Ratio ,
Municipal Securities Issuers ,
Notice Requirements ,
OCC ,
Regulation P
Headlines -
...Guidance Issued on Immediate Implementation of Certain Provisions of the EGRRCPA
...Federal Appeals Court Rules That the FHFA Is Unconstitutionally Structured
...OCC Issues Updated Guidance on...more
Federal Banking Agencies Propose to Ease Compliance Burdens Under the Volcker Rule -
The federal banking agencies, together with the SEC and the CFTC, have jointly proposed to amend the Volcker Rule to tailor the...more
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
Small Bank Holding Company and Qualified Mortgage Regulatory Relief Bills Pass House
The U.S. House of Representatives has passed two regulatory relief bills with bipartisan support, one of which would raise the ceiling on...more
2/28/2018
/ Bank Holding Company ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Farm Credit Administration ,
FHFA ,
FinTech ,
Money Services Business ,
Multistate Tax Compact ,
Pending Legislation ,
Qualified Mortgage Rule ,
RESPA ,
Stress Tests ,
Swaps
Attorney General Rescinds Federal Marijuana Enforcement Priorities -
U.S. Attorney General Jeff Sessions has rescinded all nationwide guidance previously issued by the Department of Justice ("DOJ") to federal prosecutors...more
Federal Banking Agencies Issue New Guidance for Banks Affected by a Major Disaster -
The federal banking agencies have jointly issued new guidance on the supervisory practices to be followed in assessing the financial...more
12/27/2017
/ Bank Secrecy Act ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Dodd-Frank ,
FDIC ,
Financial Crisis ,
FinCEN ,
HMDA ,
Natural Disasters ,
NIST ,
Regulation C ,
Regulation M
Bipartisan Regulatory Relief Bill for Smaller Financial Institutions Introduced in Senate
Bipartisan legislation has been introduced in the U.S. Senate, aimed at reducing regulatory burden on community banks, providing new...more
With Vice President Mike Pence casting the tie-breaking vote, the U.S. Senate has voted to repeal the CFPB’s arbitration rule, which would have prohibited banks and other covered consumer financial service providers from...more
Federal Banking Agencies Propose Simplifications to Regulatory Capital Rules -
The federal banking agencies have proposed amendments to their regulatory capital rules intended to simplify the capital treatment for mortgage...more
10/2/2017
/ Accounting Standards ,
Banking Sector ,
Capital Requirements ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
HOLA ,
HVCRE Loans ,
Marijuana Related Businesses ,
Medical Marijuana ,
New Guidance ,
Securities Settlement Cycles
Federal Reserve Issues Proposed Guidance on Board Duties and Responsibilities -
The Federal Reserve has issued proposed supervisory guidance on the duties of boards of directors of institutions supervised by the Federal...more
CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits -
The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more
7/31/2017
/ Administrative Appeals ,
Arbitration ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Financial Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Fair Labor Standards Act (FLSA) ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
HMDA ,
Mortgage Lenders ,
Mortgages ,
Split of Authority ,
Underwriting ,
Wage and Hour
Supreme Court: Bank That Buys Debt for Its Own Account Is Not Debt Collector -
The U.S. Supreme Court recently held that a bank that collects on debts it has bought and holds “for its own account” is not a debt collector...more
6/30/2017
/ Appraisal ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Federal Reserve ,
FIRREA ,
Information Reports ,
OCC ,
Prepaid Payment Products ,
Risk Management ,
SCOTUS ,
Third-Party Service Provider ,
U.S. Treasury
Supreme Court Rules That Cities Can Sue Lenders Under the Fair Housing Act -
The U.S. Supreme Court has issued a decision that reaffirms the standing of municipalities to sue lenders, including banks, for certain...more
CFPB Delays the Effective Date of New Prepaid Accounts Rule -
The CFPB adopted a final rule on April 20 that delays the general effective date of its rule governing prepaid accounts by six months. The rule will now take...more
4/28/2017
/ Administrative Procedure Act ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
CSBS ,
Data Security ,
Dodd-Frank ,
Fintech Charter ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Non-Bank Lenders ,
OCC ,
Prepaid Payment Products
Fed Raises Threshold That Triggers Review of Systemic Risk of a Proposed Merger -
In a recent decision on a proposed merger of two bank holding companies, the Federal Reserve indicated that it has increased the...more
3/31/2017
/ Broker-Dealer ,
BSA/AML ,
Commercial Real Estate Contracts ,
Dodd-Frank ,
Federal Reserve ,
Fintech Charter ,
Merger Controls ,
OCC ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Threshold Requirements ,
Underwriting