Compliance

ABA, Groups Offers Feedback on Proposed Reg CC Changes

In a joint comment letter with five financial trade groups today, the American Bankers Association wrote to the Federal Reserve in support of proposed amendments to address situations involving disputes about whether portions of an electronic check has been altered or whether the item is a forgery.

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ABA Recommends Changes to BSA/AML Regulations

In a comment letter to the Treasury department yesterday, ABA provided extensive feedback on several Bank Secrecy Act and anti-money laundering regulations that could be eliminated, modified or streamlined to reduce the compliance burden on banks in response to an executive order issued by President Trump earlier this year.

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Associations Comment on Serving Borrowers with Limited English Proficiency

In response to the Federal Housing Finance Agency’s recent request for information on how to serve borrowers with limited English proficiency, ABA and three financial and housing trade groups yesterday urged FHFA to pursue a holistic strategy to identify LEP-specific barriers to homeownership and develop cost-effective, practical solutions.

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Trade Associations Urge CFPB to Extend HMDA Implementation

Together with four other finance and housing trade associations today, the American Bankers Association wrote to the Consumer Financial Protection Bureau to request a delay of the new Home Mortgage Disclosure Act’s mandatory data collection requirements which are set to take effect Jan. 1, 2018.

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