As the Financial Stability Board looks to refresh its work plan after COVID-19, FSB Chairman Randal Quarles today said it would continue to focus on non-bank financial intermediation, along with other emerging issues that pose threats to financial stability, including climate-related financial risk, crypto assets and stablecoins.
Browsing: Compliance and Risk
As banks prepare for the forthcoming cessation of Libor, the OCC today released an updated self-assessment tool for banks to evaluate their preparedness for transitioning away from Libor to an alternate reference rate, such as the Secured Overnight Financing Rate.
A federal appellate court last week extended the compliance date of the CFPB’s 2017 payday…
In the first six months of 2021, the Financial Crimes Enforcement Network identified $590 million in ransomware-related Suspicious Activity Reports, a 42% increase compared to the 2020 total of $416 million.
The OCC today released its bank supervision operating plan for fiscal year 2022, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1.
The American Bankers Association today joined a broad coalition of business trade groups in a letter to House and Senate leaders urging them to reject a Biden administration proposal to require financial institutions to report information about gross inflows and outflows of all accounts above a de minimis threshold of $600.
Fraudsters are leveraging many financial institutions’ own generation-targeted marketing schemes and product offerings to target widely different groups of consumers.
The Federal Housing Finance Agency announced today that it will raise Fannie Mae and Freddie Mac’s 2022 caps for multifamily lending to $78 billion for each GSE—up from $70 billion in 2021—for a combined total of $156 billion.
The American Bankers Association encouraged the FDIC today to maintain flexibility as it thinks about how best to conduct exams post-pandemic.
ABA VP Jonathan Thessin covers what banks need to know about the Biden administration’s COVID-19 action plan, which includes new employer-level vaccination mandates and testing requirements for employees not vaccinated against COVID.