Notices and information from other, related federal agencies of interest (FinCEN, etc.)
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) released a new frequently asked questions (FAQ) document Tuesday addressing financial institutions’ compliance concerns related to customer due diligence (CDD) requirements under the Bank Secrecy Act (BSA). […]
Recommendations to reform the Community Reinvestment Act (CRA) were released by the Treasury Department Tuesday, with an aim to “better align CRA activity with the needs of the communities that banks serve, while being conducted […]
Civil money penalties of $2 billion will be paid by a multi-national bank to resolve fraud claims over the sale of residential mortgage-backed securities (RMBS), the Department of Justice (DOJ) announced Thursday. In a release, […]
Thomas E. Workman was confirmed by the Senate Wednesday to a six-year term as a member of the Financial Stability Oversight Council (FSOC). He serves as the council’s independent representative having insurance expertise and is […]
Numerous recommendations related to improving interagency coordination on fintech – including addressing competing concerns on financial account aggregation, and evaluating whether it would be feasible and beneficial to adopt regulatory approaches similar to those undertaken […]
Four areas that have potential to provide “the most meaningful supervisory burden reduction” will be the focus of the federal financial institution regulators as they pursue continued examination modernization, the federal umbrella group for the […]
A Volcker rule exemption, more extended-exam-cycle eligibility for small banks and protection for veterans from negative credit reporting when payments for medical services are held up due to federal administrative processes were among the bills […]
The Financial Stability Oversight Council (FSOC) is accepting comments until April 18 on recent changes to its hearing procedures addressing appeals by certain large firms objecting to their treatment as “non-bank” entities subject to consolidated […]
Legislation that exempts non-bank financial companies from annual “stress tests” was approved by the House Tuesday. However, the House agreed to amend the bill with a provision from Rep. Maxine Waters (D-Calif. and ranking member […]
Eight federal financial industry bills, three of them reflecting measures found in the recently Senate-passed bill dialing back some Dodd-Frank Act reforms, are slated for mark-up Wednesday by the full House Financial Services Committee. The […]
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