Links in “Proposals, Requests, & Comments”
- Risk Watch 24: Proposed Risk-Based Capital Rule: What You Need to Know in Less Than 9 Minutes
Confused or overwhelmed by the volumes of material written about the controversial risk-based capital proposed rule? In the latest episode of Risk Watch, SVP and In-House Counsel Jane Pannier boils it down to what you really need to know in less than 9 minutes. [8/8/14]
- USPS to Play the Part of Robin Hood?
The POSTAL Act of 2014 was introduced in July and would allow the US Postal Service to participate in several financial services. The white paper explains that 59% of post offices are in areas with one or no bank branches. The intention to render services to the underserved is not anticipated to create competition with banks, but rather to take a slice of pie from non-bank services such as payday lending. [8/8/14]
- FinCEN’s CDD Expansion Explained
Worried about FinCEN's proposed customer due diligence expansion to include beneficial owners? Better make sure you know what's coming. [8/6/14]
- NCUA Approves Proposed Easing of Fixed Asset Rule
At yesterdayâs meeting the NCUA Board approved a proposed rule that would the eliminate the 5% fixed asset cap on existing assets for federal credit unions. Going forward federal credit unions would be permitted to exceed the 5% cap provided they have implemented a fixed asset management program. [8/1/14]
- Industry Lends Support to Cybersecurity Legislation
Many trade groups join together to lend support to CISA, the Cybersecurity Information Sharing Act, legislation designed to promote prompt information sharing on cyber threats between businesses and the government. [8/1/14]
- NCUA Tightens Its Belt
The NCUA's Thursday Board meeting resulted in the unanimous approval of three items: 1) a proposed rule regarding fixed assets, 2) a reduction of NCUA's 2014 budget by $1.1 million, and 3) an expansion of the community charter of Call Federal Credit Union. [8/1/14]
- Counterparties Crash the Party
The FDIC's recently published proposal would change the deposit insurance assessment system. Of the four main proposed changes, three deal with the role counterparty exposure should play in calculating assessment rates. The proposed rule is intended to affect large and highly complex institutions. [8/1/14]
- What Happens When Congress Gives the CFPB a Blank HMDA Check
When Congress passed Dodd Frank in 2010, it added 10 data elements to HMDA reporting, but it also gave the CFPB a blank check to add whatever else it determined necessary. The CFPB took that blank check, resulting in the 573-page proposal for HMDA that is now before us. [7/31/14]
- Due to Complaints, CFPB Grants 30-Day Extension of Comment Period for Complaint Narratives Proposal
Responding to industry complaints that a 30-day comment period on the proposal to add consumer complaint narratives to its complaint database, the CFPB has granted a deadline extension to 9/22/14. [7/31/14]
- How Will New RBC Rule Proposal Affect you?
A final rule was released that revises the previous approach to RBC that applies to all banks, savings associations, bank holding companies, etc. The rule, effective October 1, 2014, eliminates the requirement that eligible guarantees be made by eligible guarantors in order to calculate the risk-weighted assets of an exposure. [7/30/14]
