Links in “Agencies”
- FDIC & OCC Proposal on Liquidity Risk Management
While the proposal focuses on large FIs over $10 billion, the need for attention to liquidity risk management has never been greater. [10/31]
- NCUA October Economic Update Emphasizes Interest Rate Risk
The regulatory choir seems very unified in promoting the need for interest rate risk and liquidity management. [10/31]
- CFPB Releases Four Guides to Assist Caregivers
Booklets, each called "Managing Someone Elseâs Money,â represent the CFPBâs latest efforts to carry out its Dodd-Frank mandate to help older Americans avoid financial exploitation. [10/31]
- CFPB to Continue Plan to Target Individuals
CFPB has named individuals as defendants in two RESPA-enforcement matters; report that Cordray is wanting to send a signal that individuals are at risk when they do "bad things under the umbrella of a company." [10/30]
- Agencies Publish Comment Period and Guidance on Recent Flood Proposal
In line with last week's statements, the Federal Register echoes elements of the establishing escrow requirements, acceptance of private flood insurance coverage, and the force-placement of flood insurance. [10/30]
- NCUA Promotes Webinar on Employee Fraud Deterence
November 14 webinar will answer key questions on reducing employee fraud and provide real-world case studies. [10/30]
- Someone Else’s Money Guide
CFPB promotes guide on managing someone else's money. Promotes key principles associated with the fiduciary duties, including avoiding conflicts, sound controls, segregation of funds and proper recordkeeping. [10/30]
- Regulators Expand Securities Guidance
Key elements focus on securities credit analysis and the need for investment security creditworthiness assessment, reiteration of asset classification definitions, examples of how the agencies will apply the uniform classification approach to specific situations, and guidance on when an asset will be adversely classified. [10/30]
- FDIC Enforcement Order Compliance Rundown
Of the 10 enforcement orders, seven had to do with compliance, including four for violations of Flood Disaster Protection Act (banks in Wisconsin, Iowa, Illinois, and Colorado -- see our NB Hot Tip on an important update to Flood), two for BSA violations (banks in Mississippi and New Jersey), and one for failure to comply with overdraft rules (a bank in California). [10/29]
- CFPB’s Cordray speaks out on Qualified Mortgages and Ability to Repay Rules
Cordray speaks out on need and merit of new rules and benefit to the marketplace. Notes that more than 95 percent of the mortgage loans being made in the current market will be Qualified Mortgages. [10/29]
