Links in “Agencies”
- OCC Report Highlights FI Risks
Report targets ERM, Cyber, Underwriting, Earnings & BSA/AML risks. That'll keep you busy. [6/19]
- CFPB Expands & Promotes Dialing for Complaints Campaign
Partnership with City of Boston is likely the first of many to come. How strong is your complaint response and resolution system? [6/19]
- More on CRA: Releases List of Distressed NM MI Geographies
If you're a Bank serving in rural areas you need to know what tracts, if any, in your CRA Assessment Area are distressed or underserved. Here is that info. [6/18]
- Is There Such a Thing as a Violation of “Guidance”?
Lawyers seeing regulatory letters containing laundry lists of alleged "violations" of guidance, and such violations are cited as forming the basis for regulatory sanctions, including enforcement action. [6/18]
- FDIC Echoes CDFI Opportunity
FDIC Promotes CDFI Bank Enterprise Award Opportunities. CRA-focused FIs should give heed. [6/18]
- Possible New Limits on Predatory Lending to Servicemembers
DOD seeks comments on whether further limitations should be placed on payday loans and auto title loans to servicemembers and their dependents, noting that some predatory lenders have modified their products to avoid the limitations under current law. [6/17]
- Next Stop for AML/Fraud Attention: Virtual Currencies
Regulators figuring out how to handle virtual currency providers. [6/17]
- FinCEN on the Virtual Economy
FinCEN Director delivers insightful speech on virtual currency and impact on BSA and other areas. [6/14]
- One-Stop Compliance Assistance
CFPB consolidates all of its implementation material for the new mortgage rules on a new Regulatory Implementation Page; site incldes compliance guides, educational videos, and quick reference guides. [6/14]
- Yet Another Final Rule Change to the Mortgage Ability-to-Pay Requirements
This rule provides an exemption to the ability-to-pay requirements for creditors that meet certain designations, loans made under specific programs, certain nonprofit creditor designations, and loans made in connection with certain Federal emergency economic stabilization programs; also adds some provisions to the definition of a qualified mortgage and modifies requirements regarding loan originator compensation in the points and fees calculation. [6/13]
