House committee advances ABA-backed bill to ease Section 1071 reporting burden
The House Financial Services Committee voted 26-22 to advance legislation to exempt certain lenders from small-business lending data reporting requirements.
Compliance and Risk
CFPB finalizes rule to revise fair lending enforcement
The CFPB will issue a final rule to remove disparate impact from enforcement of the Equal Credit Opportunity Act, clarify...
Banking groups seek more time for public input on Genius Act implementation
ABA joined three banking sector associations in requesting that the Treasury Department and FDIC tie the public comment period for...
FDIC issues relief guidance for Washington state banks affected by storms, flooding
The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of...
Multibank MHCs gain fresh attention
The mutual bank holding company structure preserves local identity while addressing shared operational challenges.
ABA supports proposed reforms to OCC appeals process
An independent supervisory appeals process at the OCC would serve as a crucial backstop to support and promote fair and...
Nebraska enacts law to curb social media scams
Nebraska lawmakers have passed legislation requiring social media companies to take steps to detect and remove fraudulent advertising on their...
OFAC extends temporary waiver for Russian oil sanctions
OFAC reauthorized Russian oil exports through May 16 to ease economic pressure from rising fuel prices due to military operations...
FS-ISAC releases advisory on hardening cybersecurity from AI
The Financial Services Information Sharing and Analysis Center has published a sector risk advisory with recommendations on managing cybersecurity and...
Banking agencies issue revised risk management model guidance
The federal banking agencies rescinded existing risk management model guidance and replaced it with revised principles that they said better...
