What happens when borrowers transition out of coronavirus-related mortgage forbearance and into other forms of loss mitigation assistance?
Browsing: Compliance and Risk
The Federal Reserve and the Financial Crimes Enforcement Network today proposed to reduce the transaction volume threshold for when banks must collect and retain information on funds transfers and remittances that start or end outside of the United States.
The Consumer Financial Protection Bureau today issued an advance notice of proposed rulemaking on consumer-authorized access to financial records.
Consolidation over the last several decades has led to disparate sources of raw data locked up in legacy systems and proprietary formats.
The CFPB today finalized a rule extending the temporary “GSE patch,” which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac, until the QM rule changes are finalized and take effect.
ABA and the Bank Policy Institute jointly backed the FDIC’s proposed new independent Office of Supervisory Appeals in a letter to the agency today.
For banks that have experienced rapid and possibly short-term inflows of assets and deposits during the coronavirus pandemic, the FDIC today issued an interim final rule providing relief from auditing, internal control and audit committee requirements that would have resulted from those inflows.
In response to a 2018 petition from ABA and the Bank Policy Institute, the federal banking agencies today issued a proposal that would codify their joint statement clarifying that regulatory guidance does not have the force and effect of law.
The FDIC would like to see a consistent interagency approach to Community Reinvestment Act rules, FDIC Chairman Jelena McWilliams said today during ABA’s Unconventional Convention.
The Treasury and State Departments today issued a report analyzing efforts to prevent human trafficking and highlighting the role that banks and other financial institutions play in these efforts.