Compliance

FASB Announces CECL Roundtable

In response to ongoing feedback from bankers and ABA staff related to FASB’s Current Expected Credit Loss impairment accounting standard, FASB Chairman Russ Golden informed ABA’s Rob Nichols that the organization will hold a public roundtable during the first quarter of 2016 that will include community bankers, regulators and auditors to address misconceptions and other concerns about the CECL model.

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ABA Seeks Banker Input for Final EGRPRA Letter

The federal banking agencies today released their fourth request for comments under the decennial Economic Growth and Regulatory Paperwork Reduction Act review, making it the final opportunity for bankers to share specifics on unnecessarily burdensome regulations that should be changed via the EGRPRA process.

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CFPB: Campus Credit Cards Continue Decline

Credit cards offered in conjunction with colleges, universities and affiliated organizations have continued to decline since the CARD Act was enacted in 2009, the Consumer Financial Protection Bureau said in a report today.

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FinCEN Chief: Include IP Addresses in SARs

Financial institutions should include IP addresses and other cyber-derived information in the Suspicious Activity Reports they file, Financial Crimes Enforcement Network Director Jennifer Shasky Calvery said today at a cybersecurity forum in New York.

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ABA-Backed Data Security Bill Advances by Strong Margin

The House Financial Services Committee today voted by a strong 46-9 margin to advance the bipartisan Data Security Act (H.R. 2205), which would establish a national data security and breach notification standard for financial institutions and retailers.

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