may 17 – Regulatory Report

What's up

[ October 19, 2020 ] Bureau’s HMDA reference chart shows required data points for 2021 collection; Filing Instructions Guide available CFPB
[ October 19, 2020 ] FinCEN sets $60 million fine against convertible virtual currency exchanger over BSA violations Other
[ October 19, 2020 ] Florida bank – third to fail this year – closed for long-time capital, assets issues (not pandemic-related) FDIC
[ October 19, 2020 ] Clarida underscores MDI focus in Fed’s CRA proposal The Fed
[ October 19, 2020 ] Share of ‘unbanked’ households dropped in 2019, report states, as nearly 95% hold accounts FDIC

‘Innovation Office Hours’ sessions at OCC’s San Francisco office available in July

May 17, 2018 0

Individuals interested in discussing banking industry innovation with representatives of the Office of the Comptroller of the Currency (OCC) are the intended participants in a July 17-19 “Innovation Office Hours” event at the federal banking […]

Bureau’s HMDA reference chart shows required data points for 2021 collection; Filing Instructions Guide available

October 19, 2020 0

A reference chart that breaks down and describes, one by one, the data points required to be collected and reported by lenders in 2021 under the Home Mortgage Disclosure Act (HMDA), and provides filing instructions for each, has been published [...]
FinCEN sets $60 million fine against convertible virtual currency exchanger over BSA violations

October 19, 2020 0

A $60 million civil money penalty was assessed against the founder, administrator, and primary operator of Helix and Coin Ninja – convertible virtual currency “mixers” or “tumblers” – by the Financial Crimes Enforcement Network (FinCEN) over alleged violations of the [...]
Florida bank – third to fail this year – closed for long-time capital, assets issues (not pandemic-related)

October 19, 2020 0

Longstanding capital and asset quality issues going back more than 10 years were the underlying reasons for a Florida bank becoming the third to fail so far in 2020, the federal insurer of bank deposits said in closing the institution [...]
Clarida underscores MDI focus in Fed’s CRA proposal

October 19, 2020 0

The advance notice of proposed rulemaking intended to modernize the Federal Reserve’s Community Reinvestment Act (CRA) rules will also make provisions focused on minority depository institutions (MDIs) more prominent and clear, the Fed’s vice chair said in a speech Monday [...]
Share of ‘unbanked’ households dropped in 2019, report states, as nearly 95% hold accounts

October 19, 2020 0

Most households in the U.S. held at least one credit union or bank account in 2019, as the number of “unbanked” households dropped from two years earlier, the federal insurer of bank deposits said Monday. In its “How America Banks: [...]
In spite of Trump’s order, credit union regulator presses ahead with ‘reinforced’ financial inclusion work

October 19, 2020 0

Seemingly defying an order from the president to stop certain types of diversity training, and getting in line with business groups outwardly opposing that dictum, the chairman of the federal credit regulator’s board said Monday he “reinforced” his commitment to [...]