House Votes to Include ABA-Backed AML Provision in Defense Bill
With a bipartisan majority of 336 to 71, the House today voted to add ABA-advocated anti-money laundering provisions to the 2021 National Defense Authorization Act.
Browsing: Compliance and Risk
CFPB Announces 2021 Reg Z Dollar Thresholds
The Consumer Financial Protection Bureau announced 2021 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act.
FCC Adopts Call-Blocking Order with Protections for Lawful Calls
The Federal Communications Commission voted last week to approve an order that would provide a safe harbor for telephone companies that block calls based on “reasonable analytics designed to identify unwanted calls,” as long as the analytics incorporates call authentication information.
ABA Urges Banks to Require Face Coverings in Branches
In an email to member CEOs yesterday, ABA President and CEO Rob Nichols urged banks to adopt and publicly announce a policy requiring anyone entering a bank branch to wear a mask or face covering.
CFPB Makes Changes to Consumer Complaint Database Functionality
The Consumer Financial Protection Bureau today announced several technological enhancements to its public consumer complaint database.
Can My Bank Require Opt-In to Overdraft as a Condition of Receiving a Debit Card?
…and other answers to your compliance questions in the July/August 2020 ABA Regulatory Policy and Compliance Inbox.
ABA: More Detail Needed in FinCEN Analysis of CTR Burden
A recent estimate by the Financial Crimes Enforcement Network of the total cost to file currency transaction reports “significantly underestimates” the burden faced by financial institutions, ABA said in a letter to the agency today.
State Law Compliance: How to Design a Sustainable Process
Prior to Dodd-Frank, federal law often preempted state law. Under the new analysis, that is generally no longer the case. As a result, banks of all sizes and charters have had to pay more attention to state law.
Fed Proposes Revisions to Capital Assessments, Stress Testing Reports
The Federal Reserve has announced temporary revisions to its Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports.
Three Takeaways from CRA Modernization
Provisions of OCC final rule will make CRA examination more consistent and predictable and have enjoyed widespread support. Other portions of the rule have been met with skepticism, and much work remains for all agencies.