The Federal Reserve today requested comments on changes that the regional Federal Reserve Banks would make in connection to NACHA’s same-day ACH rule.
Browsing: Compliance and Risk
At the direction of the Federal Housing Finance Agency, Fannie Mae and Freddie Mac yesterday announced new standards that mortgage institutions would have to meet in order to sell loans to or service loans on behalf of the housing GSEs. The new standards include net worth, capital and liquidity requirements both for depository institutions and for nonbanks.
FinCEN announced that Jamal El-Hindi will be FinCEN’s new deputy director. El-Hindi joined FinCEN in 2006 where he was head of the former regulatory policy and programs division.
Just two months remain before the Volcker Rule goes into effect on July 21, and ABA will host a conference call on Wednesday, May 27, to allow bankers to discuss exam preparedness and Volcker-specific compliance issues.
Surface benefits for consumers from the 2009 Credit CARD Act have been offset by significant negative effects, ABA told the Consumer Financial Protection Bureau yesterday.
ABA today welcomed the Federal Reserve’s proposal to require banking organizations to include their current 20-digit legal entity identifiers on several regulatory forms¬—namely, FR Y-6, FR Y-7 and FR Y-10.
In remarks at the 2015 Bank Secrecy Act Conference in Las Vegas, Nevada on June 18, the Financial Crimes Enforcement Network’s (FinCEN) associate director of enforcement, Stephanie Brooker, focused on three main points: the importance of Bank Secrecy Act (BSA) and Suspicious Activity Report (SAR) filings; FinCEN’s enforcement approach; and promoting a strong culture of compliance in the financial industry.
The Department of Education today published a proposed rule that would limit the kinds of arrangements colleges can make with banks that disburse funds to students from federally guaranteed student loans.
The OCC today published a final rule to integrate the agency’s licensing rules for national banks and federal savings associations.
ABA last week filed its second comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct.