FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks
The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more
12/23/2019
/ Agricultural Sector ,
Bank Deposits ,
Bank Secrecy Act ,
Banks ,
Broker-Dealer ,
Brokered Deposits ,
Community Reinvestment Act ,
FDIC ,
FinCEN ,
FinTech ,
Hemp ,
Hemp Related Businesses ,
Marijuana ,
Marijuana Related Businesses ,
NCUA ,
Nonbank Firms ,
OCC ,
Opt-Outs ,
Pending Legislation ,
Proposed Amendments ,
Regulatory Standards ,
Small Banks ,
State Securities Regulators ,
Suspicious Activity Reports (SARs) ,
Underwriting ,
USDA
On December 3, 2019, the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union...more
12/5/2019
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Data-Sharing ,
Fair Credit Reporting Act (FCRA) ,
Federal Reserve ,
Financial Services Industry ,
FinTech ,
Interagency Guidance ,
NCUA ,
OCC ,
U.S. Treasury ,
Underwriting
OCC and FDIC Propose Interest Rate Fix for Loans Transferred to Non-Banks -
The FDIC and OCC have separately proposed rules that would codify the “valid-when-made” doctrine and clarify that when a bank sells, assigns, or...more
11/26/2019
/ Appraisal ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
EGRRCPA ,
FDIC ,
Federal Reserve ,
Final Rules ,
HVCRE Loans ,
Interest Rates ,
IRS ,
Mortgages ,
OCC ,
Regulation Z ,
SAFE Act ,
Tax Cuts and Jobs Act ,
Truth in Lending Act (TILA) ,
Valid When Made Doctrine
Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks
The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more
10/31/2019
/ Accounting Standards ,
Banks ,
Beneficial Owner ,
BSA/AML ,
Comment Period ,
Community Banks ,
Compliance ,
EGRRCPA ,
FASB ,
Federal Reserve ,
Federal Savings Associations ,
Final Rules ,
FinCEN ,
FinTech ,
Fintech Charter ,
Leverage Ratio ,
National Bank Act ,
NYDFS ,
OCC ,
OREO Properties ,
Pending Legislation ,
Smaller Reporting Companies ,
Special Purpose National Bank Charter ,
Statutory Authority ,
Volcker Rule
On October 21, 2019, Judge Victor Marrero of the U.S. District Court of the Southern District of New York issued a final decision and order in New York State’s challenge to the OCC’s statutory authority to grant special...more
Headlines -
FDIC Adopts Final Rule Establishing Community Bank Leverage Ratio Framework
OCC Issues Compliance Guidance on Registered Appraisal Management Companies
CFPB Announces New Policies to Promote Innovation...more
9/30/2019
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Controlled Substances Act ,
Credit Unions ,
Dodd-Frank ,
FDIC ,
Federal Deposit Insurance Act ,
Financial Institutions ,
Innovation ,
Leverage Ratio ,
Marijuana ,
New Guidance ,
OCC ,
Ombudsman
On September 3, 2019, Judge Dabney Friedrich of the U.S. District Court for the District of Columbia dismissed the Conference of State Bank Supervisors’ (“CSBS”) second suit challenging the Office of the Comptroller of the...more
Federal Reserve Announces Plan for Real-Time Payment and Settlement Service -
The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more
9/3/2019
/ Appraisal ,
Appraisal Management Companies ,
Banking Sector ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Disparate Impact ,
Electronic Payment Transactions ,
Fair Housing Act (FHA) ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
HUD ,
Interest Rates ,
Mortgage Lenders ,
OCC ,
Payment Systems ,
Proposed Rules ,
Race Discrimination ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Volcker Rule
Federal Banking Agencies Expand Eligibility to Use Streamlined Call Reports -
The federal banking agencies have adopted a final rule to reduce regulatory reporting requirements for certain banks with total assets of less...more
6/27/2019
/ Best Interest Standard ,
Broker-Dealer ,
Call Reports ,
Community Banks ,
Disclosure Requirements ,
EGRRCPA ,
FDIC ,
FFIEC ,
Final Rules ,
Financial Institutions ,
Liquidity Coverage Ratio ,
Mortgage Lenders ,
Mortgages ,
Municipal Bonds ,
Municipalities ,
New Guidance ,
OCC ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers
The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more
5/30/2019
/ Banking Sector ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Electronic Communications ,
Federal Pilot Programs ,
Federal Savings Associations ,
Final Rules ,
Financial Institutions ,
FinTech ,
HMDA ,
OCC ,
Proposed Amendments ,
Regulation C ,
Reporting Requirements ,
Special Purpose National Bank Charter
On May 20, the OCC published its Semiannual Risk Perspective, Spring 2019 and singled out financial innovation and rapid developments in Fintech as a special topic in emerging risks to the banking industry. This is the first...more
On May 2, 2019, Judge Victor Marrero of the U.S. District Court of the Southern District of New York denied two of three counts of the OCC’s Motion to Dismiss New York State’s challenge to the OCC’s statutory authority to...more
On March 19, 2019, the New York State Department of Financial Services (“NYDFS”) filed a brief in opposition to the Office of the Comptroller of the Currency’s (“OCC”) motion to dismiss the NYDFS’ lawsuit challenging the...more
3/27/2019
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Banking Sector ,
Chevron Deference ,
CSBS ,
Federal Reserve ,
FinTech ,
Fintech Charter ,
Motion to Dismiss ,
NYDFS ,
OCC ,
Popular ,
Special Purpose National Bank Charter
Some commenters have opined that the litigation risk surrounding the Office of the Comptroller of the Currency’s (“OCC”) proposed special purpose national bank charter for Fintechs (“Fintech Charter”) is deterring applicants...more
The framework of a regulatory sandbox should allow for informal dialogue with regulators at the idea or initial concept and early design stages, and controlled experiments with real-time regulatory input and feedback at the...more
12/5/2018
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Reserve ,
Financial Services Industry ,
FinTech ,
Fintech Charter ,
Global Financial Innovation Network (GFIN) ,
OCC ,
Popular ,
Regulatory Standards ,
Sandbox ,
Special Purpose National Bank Charter ,
U.S. Treasury
Federal Banking Agencies Issue Joint Statement on the Role of Supervisory Guidance -
The federal banking agencies, along with the CFPB and the NCUA, have issued a joint statement clarifying the role of supervisory...more
Headlines -
...OCC to Begin Accepting Applications for Bank Charters for Fintech Companies
...Agencies Issue Rules Implementing 18-Month Exam Cycles for Community Banks...more
8/31/2018
/ Bank Holding Company ,
Banking Examinations ,
Banking Sector ,
Community Banks ,
EGRRCPA ,
FinTech ,
Fintech Charter ,
Liquidity Coverage Ratio ,
Municipal Securities Issuers ,
Notice Requirements ,
OCC ,
Regulation P
Headlines -
...Guidance Issued on Immediate Implementation of Certain Provisions of the EGRRCPA
...Federal Appeals Court Rules That the FHFA Is Unconstitutionally Structured
...OCC Issues Updated Guidance on...more