FSB Seeks Feedback on Cyber Incident Response for Banks
The Basel, Switzerland-based Financial Stability Board today sought public feedback on a set of 46 cyber incident response and recovery...
Compliance and Risk
Fed Makes Temporary Rule Change to Facilitate PPP Loans to Bank Directors, Shareholders
Following clarification from the Small Business Administration and Treasury Department that bank directors and shareholders may receive Paycheck Protection Program loans from their related...
Emerging Vectors for Payments Fraud
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other...
FFIEC Releases Computational Tools for APRs, APYs
To help financial institutions comply with consumer protection rules, the Federal Financial Institutions Examination Council today released two computational tools...
CFPB Permanently Raises HMDA Reporting Thresholds
In a final rule issued today, the Consumer Financial Protection Bureau raised the reporting thresholds for banks reporting data under...
ABA, Groups Call on Congress to Shield Economic Impact Payments from Garnishment
Congress should protect CARES Act economic impact payments from being garnished to pay creditors, ABA and several other financial groups...
Agencies Update BSA/AML Examination Manual
The Federal Financial Institutions Examination Council today released long-awaited updates to its Bank Secrecy Act/Anti-Money Laundering examination manual.
CFPB Issues Interpretive Rule, Greenlighting Use of Prepaid Cards for EIPs
To help facilitate the timely, efficient and secure disbursement of the Treasury Department’s economic impact payments, the Consumer Financial Protection...
Nichols Calls for Adjustments to KYC Rules to Facilitate PPP Loans
Temporary adjustments to “know your customer” and anti-money laundering requirements are “key” to speeding up the rate at which banks...
SBA, Treasury Clarify Beneficial Ownership Requirements for PPP Loans
The Small Business Administration and Treasury Department provided guidance today clarifying lenders’ obligations to collect beneficial ownership data when making...
