Compliance

OCC: Credit, Compliance Risk Growing in 2015

Noting an environment of “high” credit, strategic, compliance and operational risk, the OCC outlined nine priorities for ongoing midsize and community bank supervision in its Semiannual Risk Perspective report released yesterday.

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New Exam Procedures on TRID Issued

The FDIC yesterday issued revised interagency examination procedures for the TILA-RESPA integrated disclosures now proposed to take effect on Oct. 3. The procedures also include updates related to the Consumer Financial Protection Bureau’s ability-to-repay, servicing and high-priced mortgage loan rules.

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Rep. Tipton Introduces ABA, Alliance-Backed Tailored Regulation Bill

Rep. Scott Tipton today introduced the TAILOR Act (H.R. 2896), which would require financial regulators to consider bank risk profiles and business models when taking regulatory actions. The bill -- a part of ABA’s Agenda for America’s Hometown Banks -- has been strongly advocated by ABA and the alliance of state bankers associations.

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CFPB Unveils Complaint Narratives, Access for Government Workers

The Consumer Financial Protection Bureau today published the first 7,700 consumer narratives that consumers had opted to have accompany their complaints in the CFPB’s public database. More than half of consumers submitting complaints since narratives were added in March have opted to share their narratives.

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Supreme Court OKs Disparate Impact Analysis under Fair Housing Act

The U.S. Supreme Court ruled today that disparate impact claims are enforceable under the Fair Housing Act. The decision in the case -- Texas Department of Housing and Community Affairs v. Inclusive Communities Project -- included a note of caution that statistical disparities only impose liability if plaintiffs can connect it to a defendant’s policy causing the disparity in order to “protect defendants against abusive disparate-impact claims.”

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