OCC Issues Long-Awaited Final Rule Clarifying ‘Valid When Made’ Principle
The OCC issued a long-awaited final rule today affirming that permissible interest on a loan made by a national bank...
Compliance and Risk
ARRC Releases ‘Best Practices’ for Libor Transition
The Alternative Reference Rates Committee today issued a set of best practices to help market participants complete preparations for the...
New Industry Coalition to Support Banks’ Cyber Risk, Compliance Efforts
A coalition of 31 financial institutions and trade associations—including the American Bankers Association and led by the Bank Policy Institute—today...
Four Ways Banks Protect Seniors by Reducing Social Isolation
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in...
Agencies Issue FAQs on Coronavirus, Community Reinvestment Act Activities
The OCC today released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act and the...
FinCEN to Update Methodology for Calculating Regulatory Burden of SARs
Bank Secrecy Act reporting institutions annually spend roughly $206 million and 5.4 million hours of work investigating, evaluating cases and...
CFPB Issues No-Action Letter Templates to Encourage Innovative Offerings During Pandemic
To help financial service providers assist struggling borrowers during the coronavirus pandemic, the Consumer Financial Protection Bureau toady issued two...
ABA Highlights Broad Support for Petition to Facilitate COVID-19-Related Calls
ABA and six other financial trade groups wrote to the Federal Communications Commission yesterday highlighting broad support for an ABA-led...
Financial Regulators Issue Joint Principles for Responsible Small-Dollar Loan Programs
To encourage banks and other depository institutions to engage in responsible small-dollar lending, federal financial regulators today issued long-awaited joint guidance...
OCC Unilaterally Finalizes Community Reinvestment Act Changes
The OCC today issued its long-awaited final rule making significant changes to the regulations implementing the Community Reinvestment Act—the first...
