Links in “Agencies”
- Significant SAR Stats
FinCEN has released its first issue of SAR Stats, a 24-page document that details trending suspicious activity from an analysis of over 1.3Â million SARs. [7/21/14]
- NCUA, Are You Really Listening?
This is what the credit union executives and trade association representatives thought who attended yesterdayâs last Listening Session. Approximately 150 attendees at the Alexandria, VA, meeting continued to express concerns about the proposed risk based capital rule, but didnât leave with any clear idea of the direction NCUA is planning to take. [7/18/14]
- New Legislation Requires Community Bank Presence on Fed Board
Legislation reauthorizing the Terrorism Risk Insurance Act included an amendment requiring at least one member of the Federal Reserve Board to have experience in community banking. The measure was approved by the Senate. [7/18/14]
- FinCEN: the New Captain America?
FinCEN has taken action against FBME Bank Ltd, citing the foreign bank for weak anti-money laundering controls. FinCENâs director states, âthe United States will not stand by while financial institutions help those who intend to harm or threaten Americans.â [7/18/14]
- FDIC in the Dog House
According to a recent GAO study, the FDIC has not fully implemented controls regarding its information security management program. Four action items have been recommended by the GOA to help the FDIC enhance its program. [7/18/14]
- 10 Tips to Tip The Scale in Your Favor
A former CFPB enforcement lawyer gives ten tips to help institutions successfully navigate CFPB enforcement investigations. [7/18/14]
- Going Once, Going Twice, Sold
The Federal Reserve has approved a rule regarding information collection after the proposal did not receive any comments during the 60-day comment period. [7/18/14]
- What Part of “Eligible Guarantee” Do You Not Understand?
The Federal Reserve Board, FDIC, and OCC agreed upon a correction for the definition of "eligible guarantee" as part of their risk-based capital rules. Better take a look, as the change could affect the way your institution determines its regulatory capital ratios. [7/17/14]
- All They Do Is Complain, Complain, Complain
Take a look at the CFPB's new report describing the complaints they have received over the past three years. Is your institution guilty of some of these practices? [7/17/14]
- But What Does It MEAN?
Using the definition of "assumption" from Reg Z, the CFPB issued a rule clarifying the term "successor-in-interest" as part of its ability-to-repay rule. [7/17/14]
