Browsing: Newsbytes

Newsbytes

Due to the importance of large banks to the overall economy, regulatory agencies should prod more disclosures of certain supervisory information by the large financial institutions they oversee, FDIC Vice Chairman Thomas Hoenig said in a speech today in New York.

Compliance and Risk

The federal banking agencies are preparing updates to the Community Reinvestment Act questions and answers to provide guidance on how alternative delivery methods for financial services, including those provided through financial technology platforms, Comptroller of the Currency Thomas Curry said today at a community reinvestment conference in Washington, D.C.

Compliance and Risk

In a comment letter today, ABA called on the Basel Committee on Banking Supervision to withdraw a proposal to set a global regulatory capital requirement to address “step-in” risk — that is, the risk a bank would provide financial support to nonbank financial entities in times of market stress beyond or in absence of any contractual obligations.

Newsbytes

The OCC today announced that Grace Dailey has been named senior deputy comptroller for bank supervision and policy and chief national bank examiner.

Newsbytes

Sens. Patty Murray (D-Wash.), Dick Durbin (D-Ill.) and Bernie Sanders (D-Vt.) today introduced the SCRA Enhancement and Improvement Act of 2016, which expands the provisions of the Servicemembers Civil Relief Act.

Compliance and Risk

In congressional testimony yesterday, Consumer Financial Protection Bureau Director Richard Cordray said that the bureau would provide further question-and-answer guidance to the financial and housing industries on complying with the TILA-RESPA integrated disclosures, which — since TRID took effect in October 2015 — have been delaying mortgage closings, according to a recent ABA survey.

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