FDIC’s McWilliams Focusing on Promoting Innovation, Simplifying Supervision
The FDIC is pivoting to focus on innovation and simplicity in supervision, FDIC Chairman Jelena McWilliams told attendees at ABA’s Annual Convention in New York today.
The FDIC is pivoting to focus on innovation and simplicity in supervision, FDIC Chairman Jelena McWilliams told attendees at ABA’s Annual Convention in New York today.
The American Bankers Association today offered feedback to the financial regulatory agencies on proposed reforms to the Volcker Rule that would simplify the rule’s compliance burden and better target its effects toward intended activities. In the comment letter — which reflected input from three ABA-led banker working groups — the association commended the agencies for
The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.
In response to recent questions concerning appraisal regulations and guidance, the federal banking agencies today issued a set of FAQs intended to offer additional clarification.
The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers “abusive” under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today.
The Federal Reserve is fully participating in an interagency process to revise Community Reinvestment Act regulations, Fed Governor Lael Brainard said today.
Housing GSEs Fannie Mae and Freddie Mac, along with the Federal Housing Finance Agency, today launched Mortgage Translations, an online clearinghouse of more than 220 mortgage resources translated into Spanish.
In response to the FDIC’s recently announced initiative to streamline its Financial Institution Letters and other communications, the American Bankers Association in a comment letter on Wednesday urged the FDIC to withdraw its supervisory expectations with respect to bank overdraft payment programs and to rescind its 2013 guidance on deposit advance programs.
The American Bankers Association this week joined the U.S. Chamber of Commerce and the Consumer Bankers Association in urging the Consumer Financial Protection Bureau to support banks and other businesses seeking to test new disclosures that may be clearer and more understandable than existing, legally required ones.
…and more insights from ABA’s Compliance Center Inbox in the next issue of the ABA Banking Journal.