A recent estimate by the Financial Crimes Enforcement Network of the total cost to file currency transaction reports “significantly underestimates” the burden faced by financial institutions, ABA said in a letter to the agency today.
The Federal Reserve has announced temporary revisions to its Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports.
The Small Business Administration today issued guidance to Paycheck Protection Program lenders on filing Form 1502, which will trigger the payment of the PPP loan processing fees to lenders.
In a final rule issued today, the Consumer Financial Protection Bureau raised the reporting thresholds for banks reporting data under the Home Mortgage Disclosure Act.
In a letter to bank CEOs last night, the federal banking agencies restated that they would not take action against institutions that submit their March 31, 2020, Call Report after the filing deadline, provided that the report is submitted within 30 days of the original filing date.
As part of its efforts to prevent consumer harm, the Consumer Financial Protection Bureau today announced that it will issue advisory opinions to help companies understand legal and regulatory obligations.
The IRS on Friday issued important guidance on how banks and other servicers of mortgage loans must report the deductibility of mortgage interest premiums.
While generally welcoming the Securities and Exchange Commission’s proposed updates to “Guide 3,” ABA urged the SEC to allow more time before adding disclosures specific to the Current Expected Credit Loss model.
The federal banking agencies today released 2018 Community Reinvestment Act data on small business, small farm and community development lending. The CRA requires banks with more than $1.25 billion in assets to report data in these areas.
Understanding the past is important but extracting value from risk reports and applying the results is critical to the organization’s future. Risk reporting has far more to offer.