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What's up
  • [ August 29, 2025 ] OCC cuts assessment rates for national banks, federal savings associations as of Sept. 30 OCC
  • [ August 29, 2025 ] Three prohibited from further service at banks after alleged misappropriation of funds, misrepresentations FDIC
  • [ August 29, 2025 ] FDIC removes references to ‘disparate impact’ – including how to evaluate risk – from compliance exam manual FDIC
  • [ August 29, 2025 ] Former credit union CEO caused more than $1.7 million in losses, order says NCUA
  • [ August 28, 2025 ] Chinese money launderers in U.S., used by Mexico-based drug cartels, target of advisory Other
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CFPB

CFPB’s tech sprints will focus on consumer disclosures, HMDA file prep and data submission

June 29, 2020 0

A series of three “tech sprints” – one held this October, and two more slated for March 2021 – will focus on how to improve consumer disclosures, preparing files for Home Mortgage Disclosure Act (HMDA) […]

Other

Due diligence on serving hemp-related businesses issued by financial crimes law enforcement, including types of info, documentation needed

June 29, 2020 0

Conducting due diligence on hemp-related businesses – on the types of information and documentation that may be required to collect from those entities – is outlined in guidance for banks and credit unions issued Monday […]

COVID-19 actions

Fed releases new term sheet for Primary Market Corporate Credit Facility created to help large employers during pandemic

June 29, 2020 0

Pricing and other information for the purchase of corporate bonds by the Primary Market Corporate Credit Facility (PMCCF) is provided in a new term sheet released Monday by the Federal Reserve. The PMCCF was created […]

OCC

‘Risk perspective’ paints grim picture for banks’ financial performance for year due to impact of pandemic

June 29, 2020 0

Weak financial performance and increasing credit, operational, and compliance risks resulting from the financial impact of the coronavirus crisis are among the “key risk themes” outlined in a report issued Monday by the federal bank […]

NCUA

Supreme Court takes a pass on credit union membership rules; agency will start processing new applications ‘immediately’

June 29, 2020 0

An appeal of a lower court’s earlier decision upholding rules governing membership at credit unions was rejected by the Supreme Court Monday, essentially ending a challenge by the banking industry to the regulator over the […]

CFPB

High court ruling allowing president to fire CFPB director ‘at will’ has no impact on agency rules, Kraninger says

June 29, 2020 0

A Supreme Court ruling Monday that lets the federal consumer financial protection agency continue in operation – but finds that the president may remove its director at will – means that the agency’s rules continue to govern […]

Today

  • OCC cuts assessment rates for national banks, federal savings associations as of Sept. 30

    August 29, 2025 0
    The national bank regulator is reducing semiannual assessments on supervised institutions slated for Sept. 30, the agency announced Friday. Calling it the fifth such reduction since 2017, the Office of the Comptroller of the Currency (OCC) said it has reduced [...]
  • Three prohibited from further service at banks after alleged misappropriation of funds, misrepresentations

    August 29, 2025 0
    A former “senior universal banker” and teller at a Massachusetts bank has been prohibited from further service at a financial institution and ordered to pay a $12,000 civil money penalty (CMP), the federal bank deposit insurance agency said Friday. According [...]
  • FDIC removes references to ‘disparate impact’ – including how to evaluate risk – from compliance exam manual

    August 29, 2025 0
    References to “disparate impact” – the result of practices unintentionally having a disproportionate, negative effect on a protected group, including minorities – are now erased from an examination manual issued by the federal bank deposit insurance agency, it said Friday. [...]
  • Former credit union CEO caused more than $1.7 million in losses, order says

    August 29, 2025 0
    A former Wisconsin credit union CEO who reportedly caused her credit union losses exceeding $1.7 million is permanently barred from service in any federally insured financial institution, according to a consent order announced Friday by the National Credit Union Administration [...]
  • Chinese money launderers in U.S., used by Mexico-based drug cartels, target of advisory

    August 28, 2025 0
    Chinese money laundering networks (CMLNs) in the U.S. that are used by Mexico-based drug cartels — dubbed a “mutualistic relationship” — are the target of an advisory to banks, the Treasury’s top financial crimes enforcement arm said Thursday. The Financial [...]
  • OCC shows 102 banks slated for CRA exams in Q4 2025, Q1 2026

    August 28, 2025 0
    A total of 102 national banks and federal savings associations are slated for their anti-redlining Community Reinvestment Act (CRA) evaluations over the final quarter of 2025 and the first quarter of 2026, according to their federal regulator. The Office of [...]
  • Audit produces 10 recommendations for improving NCUA info security

    August 27, 2025 0
    The federal credit union regulator’s information security program was found to be “effective overall” in a recent independent audit report, but the auditor reported five new weaknesses in the controls selected for review and gave 10 recommendations for improvements. The [...]
  • Registration for NCUA’s closed town hall open until Friday

    August 27, 2025 0
    Registration for the off-the-record “strategic plan” town hall slated for Sept. 9 by the federal credit union regulator remains open until Friday, the agency reminded in a release Wednesday. The meeting, to be held virtually, is described as “off the [...]
  • Profitability down for banks at midyear, continuing decline from year ago; DIF exceeds statutory minimum, ending restoration plan

    August 26, 2025 0
    Return on assets (ROA) for the nation’s banks was down at midyear as was net income, which the federal bank deposit insurance agency Tuesday blamed on an increase in provision expenses related to a large bank acquisition. Absent that, the [...]

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