Links in “Agencies”

The Board of Governors of the Federal Reserve recently proposed changes and updates to Regulation CC, which includes the EFA Act and the Check 21 Act. Specifically, the new proposition will provide indemnity provisions regarding remote deposit capture services. [12/2/14]

Five individuals have received orders prohibiting them from ever working at a federally insured financial institution again. But that’s not all; most of these ex-employees are also booking jail time and fines. [12/1/14]

The list of enforcement actions is out again with 38 orders. Much higher than last month’s 20 orders. [12/1/14]

FinCEN has assessed a civil money penalty of $300,000 against North Dade Community Development Federal Credit Union for serious violations of the Bank Secrecy Act. Among the offenses were admittedly willful violations of section 314(a) of the USA PATRIOT Act and record retention requirements, and significant deficiencies in general BSA program requirements. [11/26/14]

The Federal Reserve and FDIC have reviewed the 2014 resolution plan for Wells Fargo. While improvements appear promising, the bank also experienced shortcomings relative to its resolution plan which will need to be addressed in the coming year's plan. [11/26/14]

Considering the result of the recent elections as well as the seemingly innumerable supervisory and enforcement actions from the CFPB, it's a challenge to know how things will shake out in the coming year. This summary will assist in speculating which issues are likely to maintain momentum under the CFPB's watch. [11/26/14]

The next FDIC teleconference is scheduled for December 9, 2014, and will focus on changes to flood insurance purchase requirements. This session will be free, but registration is required by December 5. [11/26/14]

The Federal Reserve Board has released its semi-annual report regarding banking applications activity. The report outlines information and statistics on proposals that have been reviewed by the Federal Reserve. [11/25/14]

The Fourth Corner Credit Union of Colorado recently received a credit union charter from the Colorado Division of Financial Services. The Fourth Corner Credit Union aims to serve legal marijuana enterprises as well as non-profit supporters of the legalized cannabis movement. [11/25/14]

The Federal Trade Commission is requesting public comment regarding proposed updates to a parental consent method under the Children's Online Privacy Protection Act (COPPA). Comments will be received until December 29, 2014. [11/25/14]