By a 3-2 vote, the Securities and Exchange Commission today approved a final rule requiring public companies to disclose the ratio of the annual compensation of the CEO to the median of the annual compensation of the company’s employees.
Browsing: Compliance and Risk
ABA today asked the financial regulators and law enforcement agencies to include in their guidance, exam procedures and appropriate regulations the Supreme Court’s framework for using disparate impact analysis to enforce the Fair Housing Act.
Mortgage borrowers who had access to electronically viewed and signed documents at closing — or “eClosings” — felt more empowered, understood the process better and saw greater efficiencies, according to a pilot program conducted by the Consumer Financial Protection Bureau at seven lenders.
Although few banks offer tax refund-related credit and deposit products, the OCC yesterday issued guidance for managing risks associated with these tax refund products.
The Consumer Financial Protection Bureau today issued a bulletin outlining the obligations of servicers in handling private mortgage insurance under the Homeowners Protection Act.
The OCC issued a bulletin today clarifying its limits on physical commodity transactions by banks. Preexisting OCC guidance allows the use of physical commodity transactions to manage risks involved with commodity derivatives provided those activities constitute a “nominal” percentage of overall risk management activities.
Nearly half of all banks outsource at least one compliance obligation. For those that do, the most commonly outsourced are compliance audit and fair lending reviews.
With bipartisan majorities, the House Financial Services Committee yesterday passed several bills that are part of ABA’s Agenda for America’s Hometown Banks.
ABA yesterday issued a bank members-only staff analysis of the Defense Department’s final rule under the Military Lending Act tightening restrictions on lending to service members and their families.
The Consumer Financial Protection Bureau yesterday released the Spanish version of “Your Home Loan Toolkit,” intended to help consumers understand the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in October.