international banking – Regulatory Report

What's up

[ October 28, 2020 ] FDIC information security ‘not effective,’ report finds; eight recommendations offered to address FDIC
[ October 28, 2020 ] Credit union regulator catches up by formally signing on to proposal clarifying, codifying role of supervisory guidance NCUA
[ October 28, 2020 ] CFPB reports continued decline in student loan complaints, notes several potential factors CFPB
[ October 28, 2020 ] Washington Federal Bank assessed $200k by CFPB over inaccurate HMDA reporting CFPB
[ October 27, 2020 ] OCC finalizes ‘true lender’ regulation in quick turn-around (just four months after proposing) OCC

Rule removes ‘external credit ratings’ from insurer’s international bank regulations

February 15, 2018 0

References to “external credit ratings” related to permissible investment activities and pledging of assets have been removed from international banking regulations by the federal deposit insurer and replaced with “appropriate standards of creditworthiness.” In a […]

FDIC information security ‘not effective,’ report finds; eight recommendations offered to address

October 28, 2020 0

Information security systems at the federal insurer of bank deposits are operating at a “maturity level” that is not considered to be effective, and the agency’s inspector general has made eight recommendations to address that efficacy, according to a report [...]
Credit union regulator catches up by formally signing on to proposal clarifying, codifying role of supervisory guidance

October 28, 2020 0

A proposed rule aimed at clarifying and codifying the role of supervisory guidance from federal financial institution regulators was adopted by the credit union regulator on Wednesday, as that agency joined federal banking agencies in issuing the proposal for comment. [...]
CFPB reports continued decline in student loan complaints, notes several potential factors

October 28, 2020 0

The decline in complaints it received related to private or federal student loans from Sept. 1, 2019, to Aug. 31, 2020, continued a trend from 2017 but is not likely attributable to just one factor, the Consumer Financial Protection Bureau’s [...]
Washington Federal Bank assessed $200k by CFPB over inaccurate HMDA reporting

October 28, 2020 0

Washington Federal Bank, N.A., already under a 2013 consent order addressing violations of Home Mortgage Disclosure Act (HMDA) reporting requirements, must pay a $200,000 civil money penalty and beef up its compliance management related to later violations under a consent [...]