Links in “Agencies”

First National Community Bank gets fined $1 million for willfully violating the Bank Secrecy Act and not catching suspicious activity related to judicial corruption. [3/2/15]

The regulatory hunt for deceptive advertising is in high season. What can we learn from these big headlines to avoid making the same mistakes? AffirmX Analyst Sydney Caskey walks us through key traps to be aware of. [2/27/15]

FDIC has issued the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the second quarter of 2015. This list includes 311 institutions with Kansas City topping the list with 86 banks scheduled for review. If you're on the list and need assistance, please contact AdvisX.com. [2/27/2015]

HUD's efforts to help public housing residents find job opportunities included $36 million in grants to housing authorities and non-profit organizations in 36 states. This is an excellent lead for FIs looking for possible CRA partners. [2/27/2015]

The Senate banking committee is considering a bill that amends the SAFE Mortgage Licensing Act of 2008 to extend access to state and federal regulatory officials (holding financial services oversight authority) to any information provided to the Nationwide Mortgage Licensing System and Registry. This access will be given without the loss of privilege or confidentiality protections provided by federal and state laws. [2/27/2015]

FTC has sued Payday Support Center LLC for making false promises to consumers, resulting in increased financial burdens for those already struggling with debt. [2/25/15]

The CFPB has issued a proposal to streamline processes for submitting credit card agreements to the CFPB on a quarterly basis. [2/25/15]

Five financial regulatory agencies (FinCEN, FRB, FDIC, NCUA, and OCC) have issued guidance encouraging institutions to promote improved financial strength of youth by offering savings programs directly geared toward young people. The guidance does not create any new regulatory policy or industry expectations; however, institutions are strongly encouraged to implement such programs. [2/25/15]

Knowing that 52 percent of American households could not afford a $400 emergency expense without additional assistance, the NCUA recently updated its consumer website with additional savings and financial tips. The update seeks to promote America Saves Week and Military Saves Week, which run from Feb 23-28. [2/24/15]

Richard Cordray, a former attorney general, recently spoke at the National Association of Attorneys General. Cordray discussed the CFPB's actions to combat the four D's of consumer protection: deceptive marketing, debt traps, dead ends, and discrimination. [2/24/15]