ABA: CFPB Information-Gathering Powers Must Be Reformed
ABA yesterday said that the Consumer Financial Protection Bureau’s expansive authority to gather information under Section 1022 of the Dodd-Frank Act must be changed.
Browsing: Compliance and Risk
New ABA Webpage Details FAQs on TRID
With the Aug. 1 TILA/RESPA integrated disclosure implementation date approaching soon and members facing questions about the complex new requirements, ABA has created a webpage dedicated to TRID frequently asked questions.
Three Proactive Ways to Compliant Background Screening
Top tips: Provide clear and conspicious disclosures, conduct thorough documentation and “ban the box.”
FDIC, OCC Release Q3 CRA Exam Schedules
The FDICand OCC have released their third-quarter Community Reinvestment Act examination schedules, covering July through September 2015.
Agencies Begin Third Phase of Expanded EGRPRA Review
The Federal Reserve, FDIC and OCC on Friday launched the third round of comments in the decennial Economic Growth and Regulatory Paperwork Reduction Act review cycle, which is mandated by Congress in order to identify bank regulations that are outdated, unnecessary or burdensome.
FCC Expected to Exempt Mobile Fraud Alerts from TCPA
Federal Communications Commission Chairman Tom Wheeler yesterday circulated a summary of his proposal to clarify the Telephone Consumer Protection Act’s restrictions on autodialed calls and texts. One item to be addressed is ABA’s petition to the agency for an exemption from TCPA’s requirement for “prior express consent” for autodialed calls to alert bank customers to fraudulent transactions, data breaches and actions required to complete funds transfers.
FinCEN Discusses New Model for Information Sharing
The Financial Crimes Enforcement Network is exploring ways of more effectively sharing information in the fight against money laundering/terrorist financing, FinCEN Director Jennifer Shasky Calvery said at the Royal United Services Institute’s workshop on “Tackling Money Laundering: Towards a New Model for Information Sharing” in London.
Members of Congress Issue Bipartisan Call for TRID Grace Period
Hundreds of lawmakers wrote to the Consumer Financial Protection Bureau last week urging Director Richard Cordray to provide an enforcement grace period after the TILA-RESPA integrated disclosures take effect on Aug. 1 running through the end of 2015.
ABA Urges CFPB to Solicit Public Comments on Arbitration Study
ABA and other trade groups last week urged the Consumer Financial Protection Bureau to solicit public comment on its recently issued arbitration study before it considers rulemaking on the subject.
Fed Seeks Comments on NACHA Same-Day Payments Rule
The Federal Reserve today requested comments on changes that the regional Federal Reserve Banks would make in connection to NACHA’s same-day ACH rule.