The Securities Exchange Commission today published in the Federal Register its final rule updating required disclosures that bank and savings and loan registrants are required to provide to investors, known as Industry Guide 3.
Banks filed more than 64,000 Suspicious Activity Reports referencing COVID-19 and related stimulus programs—about 71% of all coronavirus-related SAR filings, Financial Crimes Enforcement Network Director Ken Blanco said today.
Effective anti-money laundering compliance processes during challenging times require team collaboration, committing to communication and paying attention to guidance.
The Consumer Financial Protection Bureau today issued an outline of the proposals it is considering for its rulemaking to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for women-owned, minority-owned and small businesses.
ABA, the Financial Services Forum and the Securities Industry and Financial Markets Association wrote to the Federal Reserve today offering feedback on recent revisions to the Fed’s Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports
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.