Other – Regulatory Report

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[ July 16, 2019 ] Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds CFPB
[ July 16, 2019 ] In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules FDIC
[ July 16, 2019 ] UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor FDIC
[ July 15, 2019 ] Call reports due at end of month, but not yet for ‘streamlined’ reports for smaller banks (due after 3Q) FDIC
[ July 15, 2019 ] Week ahead: Deposit insurer, credit union regulator boards meet; Powell speaks in Paris NCUA

North Korea, Iran remain at top of list of countries with big flaws in anti-money laundering, combatting terrorism financing

July 15, 2019 0

An updated list of jurisdictions with strategic anti-money laundering (AML) and combatting financing of terrorism (CFT) deficiencies – which may affect financial institutions’ risk-based approaches and obligations – is available from the Treasury’s arm for […]

North Dakota secures one-year waiver on appraisals, with option for second year, from appraisal subcommittee

July 12, 2019 0

A one-year waiver from appraiser credentialing requirements – with an option for continuing the waiver a second year – was approved for North Dakota earlier this week, in a nod to the state’s continuing shortage […]

Final rule excludes community banks from Volcker Rule, agencies announce

July 9, 2019 0

Federal banking regulators and others on Tuesday announced a final rule – unchanged from its proposed form – that excludes community banks from Volcker Rule prohibitions and restrictions on proprietary trading and certain relationships in […]

Committee to consider bills on appraisal fees, credit scoring models, diversity at Fed Reserve banks (and the chairman’s title)

July 9, 2019 0

Legislation that aims for more flexibility in fees charged for appraisals, establishes federal consumer financial protection agency oversight in development of credit scoring models, and that mandates the title of “chair” (rather than chairman) for […]

Financial research advisory panel sets meeting to discuss LIBOR-SOFR transition, leveraged lending

June 27, 2019 0

With a new director of the Office of Financial Research (OFR) now in place (after confirmation by the Senate last week), the Treasury’s Financial Research Advisory Committee is scheduling a meeting for next month in […]

Did you say that? ‘Unprecedented’ survey seeks info on who said what in federal rule comments

June 20, 2019 0

The congressional watchdog is taking a close look at the federal rulemaking process, including by sending a first-ever survey to more than 10,000 rule commenters, the agency said Thursday. In a release, the Government Accountability […]

Senate says the word for new financial research director: ‘aye’ to confirmation

June 20, 2019 0

Dino Falaschetti is (finally) the next director of Treasury’s Office of Financial Research, after a voice vote by the Senate Thursday. His nomination to the post has been pending since last year. Falaschetti succeeds Richard […]

OFAC blocks Russian firm’s property, interests in U.S. for dealings with North Korea

June 19, 2019 0

A Russian financial organization has earned a “designation” from the U.S. government for assisting North Korea in evading sanctions to access the international financial system, the Treasury Department’s arm overseeing foreign operations announced Wednesday. The […]

Senate Banking votes Tuesday on Bowman’s renomination to new Fed Board term

June 17, 2019 0

The Senate Banking Committee is poised to vote on the president’s renomination of Michelle (“Miki”) Bowman to a new, 14-year term on the Federal Reserve Board Tuesday, just before the panel begins a hearing on […]

House Dems urge Kraninger to rescind HMDA proposals, call them a possible ‘trojan horse’ for future rollbacks

June 12, 2019 0

A group of 65 House Democrats on Wednesday urged consumer bureau Director Kathleen (“Kathy”) Kraninger to immediately rescind a number of actions that could result in fewer institutions subject to Home Mortgage Disclosure Act (HMDA) […]

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Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds

July 16, 2019 0

Expectations about reasonable procedures for assuring maximum possible accuracy, and reasonable investigations of consumer disputes, should be communicated to consumer reporting agencies (CRAs) by the federal consumer financial protection agency, the congressional watchdog said in a report issued Tuesday. The [...]
In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules

July 16, 2019 0

In Tuesday’s meeting of the Federal Deposit Insurance Corp. (FDIC) Board, Chairman Jelena McWilliams and Board Member Martin Gruenberg – the only two appointed members of the board – stood on opposite sides of two key issues before the board. [...]
UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor

July 16, 2019 0

The two appointed members of the federal bank deposit insurer board split on approval of final and proposed rules at their meeting Tuesday, with one citing an erosion of safeguards adopted in the wake of the financial crisis as his [...]