Browsing: Compliance and Risk

Compliance and Risk

The July/August issue of ABA Bank Compliance magazine, now available online for subscribers, features a cover story on how continuous improvement, a culture of discipline, knowing the business and dependent relationships and frequent testing can help compliance officers prepare their banks for natural disasters.

Compliance and Risk

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.

Community Banking

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.

Compliance and Risk

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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