Bank Notes

  • October 27, 2017
    On Friday, October 27, 2017, the FDIC released a list of orders of administrative enforcement actions taken against banks and individuals in September. The FDIC issued a total of 23 orders, including one order issued in August, and one notice. The administrative enforcement actions in those orders consisted of eight consent orders; five Section 19 orders; one civil money penalty; three...
  • October 27, 2017
    On Friday, October 27, 2017, the OCC announced it is seeking comment on a notice of proposed rulemaking amending the its Annual Stress Test rule. The proposal would make several technical revisions to the stress testing regulation, including Changing the range of possible “as-of” dates used in the global market shock component of the annual stress tests to conform with rule revisions recently...
  • October 26, 2017
    On Thursday, October 26, 2017, the Federal Reserve Board issued a press release announcing five new members of its Community Advisory Council (CAC). The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests, including from such fields as affordable housing, economic development, labor, small business, and...
  • October 23, 2017
    On Monday, October 23, 2017, the OCC, Board of Governors of the Federal Reserve and the FDIC released answers to frequently asked questions regarding the liquidity coverage ratio (LCR) rule. These FAQs are the interpretations of the rule by of the agencies’ staff based on the facts and circumstances presented. These FAQs are not official rules or regulations. The OCC plans to compile additional...
  • October 20, 2017
    On Friday, October 20, 2017, the OCC issued a bulletin informing national banks, federal savings associations, and federal branches and agencies of foreign banks of the principles they should follow to prudently manage the risks associated with offering new, modified, or expanded products and services. New activities should be developed and implemented consistently with sound risk management...
  • October 20, 2017
    On Friday, October 20, 2017, the OCC issued a Bank Supervision Policies and Procedures Manual ( PPM 5000-43 ) on Impact of Evidence of Discriminatory or other Illegal Credit Practices on Community Reinvestment Act Ratings. The PPM addresses the considerations the OCC will take to address “compliance downgrades” on CRA performance evaluations in the future. The PPM sets forth two principles that...
  • October 19, 2017
    On Thursday, October 19, 2017, the FDIC issued a press release announcing several personnel changes. Chief Information Officer Howard Whyte has more than 20 years of information technology and security experience in the federal government, military, and private sector. Office of Complex Financial Institutions Director Ricardo Delfin has served as deputy director of the Resolution Policy Branch in...
  • October 18, 2017
    On Wednesday, October 18, 2017, the CFPB outlined principles for protecting consumers when they authorize third-party companies to access their financial data to provide certain financial products and services. These principles are intended to help foster the development of innovative financial products and services, increase competition in financial markets, and empower consumers to take greater...
  • October 17, 2017
    On Tuesday, October 17, 2017, the OCC issued a bulletin to inform national banks, federal savings associations, and insured federal branches and agencies of foreign banks about key fields examiners will typically use to validate the accuracy and reliability of home mortgage loan data collected beginning in 2018 pursuant to the Home Mortgage Disclosure Act (HMDA) rule issued October 15, 2015. The...
  • October 17, 2017
    On Tuesday, October 17, 2017, the OCC, the Board of Governors of the Federal Reserve, the FDIC, and the National Credit Union Administration issued a press release exempting real estate-related transactions from appraisal requirements in major disaster areas as declared by President Trump. The exemptions will be in effect for a three-year period from the date of declaration. Included are parts of...

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