Compliance question of the month: May 2025
Compliance QOTM answers question on disclosure for large deposits under Regulation CC (Expedited Funds Availability Act).
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Recent news from Treasury’s Office of Foreign Assets Control: May 19
The Office of Foreign Assets Control announced the following sanctions action.
Recent news from Treasury’s Office of Foreign Assets Control: May 5
The Office of Foreign Assets Control announced the following sanctions action last week.
Fourth Circuit rules 1st Advantage Federal Credit Union not liable for fraudulent transfer
In a 3-0 decision, a Fourth Circuit panel ruled that financial institutions are not liable for fund transfers where the...
Bank of America to pay FDIC $540M for allegedly underpaid premiums
A Washington D.C. federal court granted the FDIC partial summary judgment, ruling that Bank of America must pay $540 million...
D.C. Circuit panel modifies its partial stay, bars CFPB mass layoffs
Following the evidentiary hearing, the court will determine whether the CFPB violated the preliminary injunction. In the meantime, the bureau...
Flowers Title Companies sues FinCEN over reporting rule
Flowers seeks a declaratory judgment, holding the reporting rule unconstitutional and setting it aside. Additionally, Flowers requests an injunction prohibiting...
ABA files amicus brief urging Georgia Supreme Court to reaffirm overdraft fees are not interest
ABA filed an amicus brief urging the Georgia Supreme Court to reverse a Georgia Court of Appeals decision that ruled...
CFPB plans to initiate new 1071 rulemaking ‘as expeditiously as reasonably possible’
The CFPB announced plans to begin a new rulemaking process for the 1071 rule. The bureau agreed with RBFC that...
Federal bank regulatory agencies plan to rescind CRA final rule
The FDIC, Federal Reserve and the OCC (the agencies) announced plans to rescind their CRA final rule.
