The Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure Rule “appears to have created sizable implementation costs for lenders,” the bureau concluded in its five-year lookback assessment of the 2015 rule.
Browsing: Compliance and Risk
The Treasury Department issued a pair of advisories today as part of Cybersecurity Awareness Month, to help combat ransomware as attacks increase.
Streamlining the process of managing disclosures will make it easier to stay compliant and reduce costs and timelines significantly, all while improving customer experience.
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
The Federal Reserve issued a proposal to make changes to its capital plan rule that applies to large bank holding companies and U.S. intermediate holding companies of foreign banking organizations.
ABA joined a broad coalition of advocacy organizations representing a range of industries in a letter to the Departments of Justice, Commerce and State and the Office of the Director of National Intelligence yesterday requesting that they convey to European regulators that “U.S. companies cannot be expected to explain U.S. government surveillance practices as they defend their use of [standard contractual clauses] for commercial [data transfers].”
Despite the pandemic, financial institutions should not expect a delay in the Dec. 31, 2021, date when publication of the London Interbank Offered Rate can no longer be relied upon, Federal Reserve Bank of New York General Counsel Michael Held said at an investor conference today.
The federal banking agencies today finalized two rules intended to provide relief for financial institutions as a result of actions taken to aid in the coronavirus response.
Banks filed more than 64,000 Suspicious Activity Reports referencing COVID-19 and related stimulus programs—about 71% of all coronavirus-related SAR filings, Financial Crimes Enforcement Network Director Ken Blanco said today.
The Securities Exchange Commission today issued a proposal to enhance the operational transparency, system integrity and regulatory oversight for alternative trading systems that trade government securities as well as repurchase and reverse repurchase agreements on government securities.