The Federal Reserve today proposed a rule specifying how large banking organizations must make quarterly public disclosures of their liquidity coverage ratios.
Browsing: Compliance and Risk
Stopping fraud is an enterprise-wide project that requires an enterprise-wide leader empowered to connect silos.
The Consumer Financial Protection Bureau today issued a bulletin clarifying the obligations of entities obtaining customer authorization for recurring preauthorized electronic funds transfers.
On November 17th, New York State Attorney General Eric Schneiderman filed an enforcement action in New York State Supreme Court in the County of New York, seeking a preliminary injunction against DraftKings and FanDuel. Schneiderman argues that because daily fantasy sports (DFS) sites allow wagering based on one day’s outcomes and not an entire season, it is gambling and not a game of skill, and therefore is illegal in New York. New York State issued an enforcement action prohibiting the DFS sites from accepting wagers from its citizens.
The Consumer Financial Protection Bureau today updated its rulemaking agenda for the remainder of 2015 and into 2016.
The Federal Trade Commission announced on Wednesday that it will amend its Telemarketing Sales Rule to address new forms of telemarketing fraud.
ABA and The Clearing House today expressed support for the Federal Financial Institutions Examination Council’s proposed improvements to the Call Report, and they strongly encouraged the council to pursue its idea of creating a more streamlined Call Report for smaller institutions. “Given the diversity in bank business models, there is ample scope and necessity for
ABA and 53 state bankers associations today urged Congress to pass legislation (H.R. 1210) that would deem all mortgage loans that institutions originate and hold in portfolio as “qualified mortgages” for purposes of the ability-to-repay rule’s safe harbor provisions. The House is expected to vote on the bill this week. “Portfolio lending is among the
FinCEN Director Jennifer Shasky Calvery, speaking at the ABA/ABA Money Laundering Enforcement Conference today, stressed the need for financial institutions to “continue engaging with our regulatory, law enforcement and [other industry] partners as we determine where there is the most significant risk, if additional AML requirements are needed, and how best to get at any identified vulnerabilities with the least amount of burden.”
Speaking at the ABA/ABA Money Laundering Enforcement Conference today, Acting Treasury Undersecretary Adam Szubin stressed the importance of healthy correspondent banking relationships, cautioning banks against “derisking,” or avoiding regulatory risk by terminating, restricting or denying services to a broad class of clients.