The federal banking agencies have published joint guidance for banks about risks posed by fintech companies and other third parties to deliver bank deposit products and services. The joint guidance issued on July 30...more
7/31/2024
/ Banking Acts ,
Banking Regulators ,
Banking Sector ,
Brokered Deposits ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Earned Wage Access ,
FDIC ,
Financial Institutions ,
FinTech ,
Mortgages ,
New Guidance ,
Popular ,
Property Valuation ,
Regulation Z ,
Risk Management ,
Truth in Lending Act (TILA)
OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more
1/31/2024
/ Bank Merger Act ,
Banking Sector ,
Comment Period ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
FinTech ,
Interchange Fees ,
OCC ,
Overdraft Fees ,
Popular ,
Proposed Rules ,
Public Comment ,
Small Business ,
Small Business Loans ,
Truth in Lending Act (TILA)
Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more
11/30/2023
/ Banking Crisis ,
Banking Sector ,
Banks ,
Commercial Loans ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
Special Assessments ,
Truth in Lending Act (TILA) ,
U.S. Treasury
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
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
FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more
4/29/2022
/ Banking Sector ,
Climate Change ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity Information Sharing Act (CISA) ,
Enforcement Actions ,
Fannie Mae ,
FDIC ,
FHFA ,
FinTech ,
Foreclosure ,
Freddie Mac ,
FTC Act ,
Moratorium ,
Mortgage Servicers ,
Public Comment ,
Risk Management ,
Russia ,
Section 5 ,
Transaction Fees
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
Court Rules that Debt Collector Violated FDCPA with Communication to Dunning Vendor -
A federal appellate court has recently ruled that a debt collector violated certain privacy requirements under the federal Fair Debt...more
6/1/2021
/ Appeals ,
Bank Holding Company ,
Bank Holding Company Act ,
Banking Sector ,
Biden Administration ,
Climate Change ,
Congressional Review Act ,
Cryptocurrency ,
Debt Collectors ,
Digital Assets ,
Executive Orders ,
FDCPA ,
FDIC ,
FinTech ,
Fintech Charter ,
OCC ,
Predatory Lending ,
Proposed Legislation ,
Public Comment ,
Qualified Mortgage Rule ,
Regulation Z ,
Risk Assessment ,
Special Purpose National Bank Charter ,
Third-Party Service Provider ,
Time Extensions ,
True Lender
FDIC Modernizes Brokered Deposit Rule and Amends Interest Rate Restrictions -
The FDIC has adopted a final rule that establishes new standards for determining whether deposits made through certain kinds of arrangements...more
12/23/2020
/ Bank Secrecy Act ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Customer Due Diligence (CDD) ,
FDIC ,
Financial Institutions ,
FinCEN ,
FinTech ,
Interest Rates ,
Libor ,
Suspicious Activity Reports (SARs)
FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks
The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more
12/23/2019
/ Agricultural Sector ,
Bank Deposits ,
Bank Secrecy Act ,
Banks ,
Broker-Dealer ,
Brokered Deposits ,
Community Reinvestment Act ,
FDIC ,
FinCEN ,
FinTech ,
Hemp ,
Hemp Related Businesses ,
Marijuana ,
Marijuana Related Businesses ,
NCUA ,
Nonbank Firms ,
OCC ,
Opt-Outs ,
Pending Legislation ,
Proposed Amendments ,
Regulatory Standards ,
Small Banks ,
State Securities Regulators ,
Suspicious Activity Reports (SARs) ,
Underwriting ,
USDA
OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers
The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more
5/30/2019
/ Banking Sector ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Electronic Communications ,
Federal Pilot Programs ,
Federal Savings Associations ,
Final Rules ,
Financial Institutions ,
FinTech ,
HMDA ,
OCC ,
Proposed Amendments ,
Regulation C ,
Reporting Requirements ,
Special Purpose National Bank Charter
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
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
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
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 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
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