Compliance

ABA Supports TCPA Safe Harbor for Technical Errors

In a joint comment letter with the Financial Services Roundtable and the Consumer Bankers Association yesterday, ABA supported a petition from ContextMedia, Inc. (doing business as Outcome Health) calling on the Federal Communications Commission to clarify that a caller is not subject to liability under the Telephone Consumer Protection Act when an undetected technical error prevents a consumer’s opt-out request from being processed.

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ABA Supports TCPA Exemption for Mortgage Servicing Calls Made during Disasters

In a comment letter to the Federal Communications Commission today, the American Bankers Association supported a petition from the Federal Housing Finance Agency to clarify that phone calls made by mortgage servicers to borrowers during a disaster or other emergency fall under the “emergency purposes” exemption of the Telephone Consumer Protection Act.

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ABA Urges Modernization of CRA Regulatory Practices

As part of ABA’s long-term engagement with the Treasury Department and financial regulators on the Community Reinvestment Act, the association today sent a white paper to Treasury with several recommendations for modernizing the regulatory approach to CRA.

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FinCEN Considering Further Guidance on Beneficial Ownership Rule

As the banking industry prepares to implement the Financial Crimes Enforcement Network’s final beneficial ownership rule, FinCEN Acting Director Jamal El-Hindi today said that the agency is considering additional guidance to help address lingering questions from financial institutions ahead of the May 2018 compliance deadline.

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