FinCEN seeks feedback on proposed beneficial ownership reporting process
The reports will be filed electronically through an online interface and must contain specific types of information outlined by FinCEN.
Browsing: Reporting
FinCEN proposes rule on access to beneficial ownership info
The proposed regs would govern how BOI information is protected and disclosed to federal agencies, governments and financial institutions.
New incident response regulation clarifies, but the key is materiality
‘One of the hardest parts of this rule is trying to understand where the balance is.’
Filing Exchange Act reports without a holding company
As some banks weigh ditching their holding companies, there are a few considerations for how and why publicly traded banks can file Exchange Act reports directly with their regulatory agencies.
Court overturns HMDA reporting threshold for small entities
A federal judge recently moved to vacate CFPB regulations that expanded the number of small-volume lenders deemed exempt from Home Mortgage Disclosure Act reporting requirements. I
ABA, BPI urge Senate to reject establishment of duplicative ‘systemically important’ designation
As the Senate considers the 2023 National Defense Authorization Act, ABA and the Bank Policy Institute urged lawmakers to omit language that would create a designation for “systemically important entities,” including large banks, for the purposes of assessing risks to critical infrastructure entities.
ABA comments on international sustainability proposal
The American Bankers Association this week offered feedback to the newly formed International Sustainability Standards Board to create global baseline standards in disclosures related to sustainability and climate-related risks.
Podcast: Understanding the SEC’s climate risk disclosure proposal
Public comments for the Securities and Exchange Commission’s sweeping climate risk disclosure proposal are due on June 17, with major implications for banks and their clients. ABA’s Mike Gullette and Joe Pigg dig into the details.
Republican Lawmakers Call for Changes to CFPB’s Section 1071 Proposal
Three GOP lawmakers today raised concerns about the CFPB’s pending rulemaking to implement Section 1071 of the Dodd-Frank Act.
Fed to Automate Non-Merger-Related Adjustments to Capital Stock Subscriptions
In a move that will significantly reduce the annual reporting burden on banks, the Federal Reserve today finalized a rule to automate non-merger-related adjustments to member banks’ subscriptions to reserve bank capital stock.