Regulatory Compliance & Agency Engagement

  • October 8, 2019
    On Tuesday, October 8, 2019, the five federal financial regulatory agencies issued a joint release announcing that they finalized revisions to simplify compliance requirements relating to the “Volcker rule.” By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds or private equity funds. The changes were...
  • October 2, 2019
    On Wednesday, October 2, 2019, the federal bank regulatory agencies finalized updates to rules restricting the ability of a director or other management official to serve at more than one depository institution or depository holding company. The updates provide relief for community banks that have $10 billion or less in total assets and are unchanged from the proposal announced in December 2018...
  • October 1, 2019
    On Tuesday, October 1, 2019, the OCC released its bank supervision operating plan for fiscal year (FY) 2020. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, and technology service providers. OCC staff members use this plan to guide their supervisory...
  • September 23, 2019
    On Monday, September 23, 2019, the FDIC's Office of the Ombudsman published its 2018 Annual Report outlining the office’s structure, outreach activities, and goals. "Engaging with our stakeholders helps the FDIC maintain strong working relationships and assists in identifying potentially recurring questions or issues that may warrant policy or process changes at the FDIC," said FDIC Ombudsman M...
  • September 18, 2019
    Director Kathleen L. Kraninger Office of the Executive Secretary Consumer Financial Protection Bureau 1275 First Street, NE Washington, DC 20002 Email: 2019-NPRM-DebtCollection@cfpb.gov Re: Comments in Response to the Notice of Proposed Rulemaking under Regulation F Docket No. CFPB-2019-0022 Director Kraninger, This letter is submitted by the Consumer Bankers Association (“CBA”) in response to...
  • September 5, 2019
    CBA Statement on FDIC Quarterly Banking Report WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the Federal Deposit Insurance Corporation’s quarterly banking profile: “The FDIC’s latest report shows ‘another positive quarter’ for the industry with continued deposit growth, strong income and an increase in lending – as well as a decrease in...
  • August 21, 2019
    On August 21, 2019, the FDIC published a Notice of Proposed Rulemaking seeking comment on proposed revisions to its regulations relating to interest rate restrictions that apply to less than well-capitalized depository institutions. The proposed rule amends the methodology for calculating the national rate and national rate cap for specific deposit products as the higher of (1) the 95 th...
  • August 20, 2019
    On Tuesday, August 20, 2019, the FDIC issued a press release on approving a notice of proposed rulemaking that would amend the deposit insurance assessment regulations that govern the use of small bank assessment credits and one-time assessment credits. Small bank credits were awarded to insured depository institutions (IDIs) that had less than $10 billion in assets, and that contributed to the...
  • August 20, 2019
    On Tuesday, August 20, 2019, the Board of Directors of the FDIC approved an interagency final rule to simplify and tailor requirements relating to Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the "Volcker Rule." The Volcker Rule generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or...
  • July 22, 2019
    On Monday, July 22, 2019, the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence, the federal bank regulatory agencies and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a joint statement as part of continuing efforts to improve transparency into their risk-focused approach to Bank Secrecy Act (BSA)/anti-money laundering (...

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