Links in “Agencies”

The Division of Depositor and Consumer Protection (DCP) Community Affairs Branch of the FDIC will provide a webinar to promote wise saving and goal setting through the use of insured bank accounts. The December 12th webinar is free, but pre-registration is required. [11/25/14]

The OCC comptroller, Thomas J. Curry, gave a speech which highlights the importance of culture and supervision, stating that “banks should never wait for regulators when it comes to protecting their own safety and soundness or reputation.” Click here for the full speech. [11/24/14]

The NCUA will be revising the risk-based capital rule in January of 2015. Along with the revision will be a second comment period. [11/24/14]

The fall 2014 rulemaking agenda has been released. It covers key areas of focus such as mortgages, prepaid cards, payday loans, debt collection, and overdraft services. [11/24/14]

Updates to the military discretionary allotment system will provide further protection to military servicemembers and has the CFPB giving a standing ovation. [11/24/14]

Could new rules for ACH be coming from the CFPB? Cordray said, "While there are undoubtedly great benefits to the current system of electronic payment networks—financial transactions today would not be the same without them—at the Consumer Bureau we also have some concerns." Find out what his concerns are here. [11/21/14]

The proposal would require servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, to put in place additional servicing transfer protections, and to take steps to protect borrowers from a wrongful foreclosure sale. The proposal would also help ensure that surviving family members and others who inherit or receive property have the same protections under the CFPB’s mortgage servicing rules as the original borrower. [11/21/14]

The OCC reiterated its position on not directing banks regarding customer acceptance or non-acceptance with particular emphasis on MSB account management. The OCC noted that MSBs are not de facto high risk and promoted continued use of appropriate oversight to evaluate risks and assign appropriate risk ratings for all accounts. [11/21/14]

The NCUA issued its November report with articles in the monthly newsletter covering a variety of current topics including ATM skimmers, risks in electronic payment systems, fighting fraud, and mobile banking. [11/21/14]

On the same day, both the FDIC and the OCC (see this) issued guidance in the form of Q&As for guiding potential applicants regarding deposit insurance and licensing. [11/21/14]