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Regulatory Compliance & Agency Engagement
- November 7, 2018On Wednesday, November 7, 2018, the FED, FDIC, and OCC jointly released a proposal aimed to reduce the regulatory reporting burdens on small institutions by expanding the number of regulated institutions eligible for streamlined reporting, under Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposal would permit insured depository institutions with total...November 2, 2018The proposal earned praise from outgoing House Financial Services Chairman Jeb Hensarling (R-Tex.), who said in a statement he wishes it went further but it nevertheless provides “much needed clarity.” And Consumer Bankers Association President Richard Hunt called it a “a positive step toward making regulations more aligned with the risks posed by activities instead of basing everything on an...October 31, 2018On Wednesday, October 31, 2018, the Federal Reserve Board invited the public to comment on two proposals creating a tiered structure for holding companies with over $100 billion of assets. At a meeting, the Fed voted 3-1 to issue separate proposals to restructure several key aspects of its post-crisis regulatory framework, thereby reducing capital, liquidity and procedural requirements for many...October 31, 2018CBA Statement on Fed Regulatory Proposals WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Federal Reserve Board proposed creating a tiered regulatory structure for bank holding companies, consistent with S. 2155: “The Fed took a positive step toward making regulations more aligned with the risks posed by activities instead of...October 10, 2018On Wednesday, October 10, 2018, the OCC, the Board of Governors of the Federal Reserve, the FDIC, the National Credit Union Administration, and the state regulators issued a press release to recognize the serious impact of Hurricane Michael on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject...October 10, 2018On Wednesday, October 10, 2018, the OCC, the Board of Governors of the Federal Reserve, the FDIC, the Farm Credit Administration, and the Federal Housing Finance Agency (collectively, the agencies) issued a bulletin regarding a final rule in the Federal Register to amend their regulations regarding the minimum margin and capital requirements for registered swap dealers, major swap participants,...October 5, 2018D.C. DOWNLOAD CBA CFPB Committee & Small Business Committee In-Person Meetings: This week, CBA HQ hosted two more in-person committee meetings: CFPB and its subcommittee, Consumer Complaints, as well as Small Business! Below are updates: CFPB: CBA’s CFPB Committee focuses on all Bureau-related issues and such as enforcement, regulatory coordination and data collection. We thanked Cindy Reeves...October 4, 2018 - 1:00PMPastSeptember 19, 2018 - 2:00PMPastSeptember 18, 2018Although leaders understand that automation can help more efficiently and effectively measure and address ethics and compliance risks, more than half of the 206 U.S. chief information officers (CIOs) and chief compliance officers (CCOs) surveyed by KPMG indicate they are not yet automating their compliance activities. And, while 90 percent plan to increase funding for automation, just 1 in 5 has...