Speaking at a virtual industry event today, Federal Reserve Board Governor Lael Brainard highlighted the need to understand risks related to climate change, noting that it is “vitally important to strengthen the U.S. financial system” to meet this challenge.
Small entities expected to be affected by the Consumer Financial Protection Bureau’s Dodd-Frank Section 1071 rulemaking recommended that the CFPB prioritize simple options in rulemaking, with clear written guidance and alignment definitions and reporting with other federal data regimes
In a comment letter to the Consumer Financial Protection Bureau today, the American Bankers Association offered feedback on a recent outline of the proposals the bureau is considering to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for women-owned, minority and small businesses.
The federal banking agencies today released 2019 Community Reinvestment Act data on small business, small farm and community development lending.
The Small Business Administration this week released a Q&A document addressing certain tax issues related to payments made on behalf of borrowers to lenders for existing SBA 7(a), 504 and microloans.
ABA urged the Federal Reserve and the Financial Crimes Enforcement Network today to withdraw a proposed rule that would reduce the transaction threshold from $3,000 to $250 for when banks must collect and retain information on funds transfers and remittances that start or end outside of the United States.
The Federal Reserve and the Financial Crimes Enforcement Network today proposed to reduce the transaction volume threshold for when banks must collect and retain information on funds transfers and remittances that start or end outside of the United States.
Consolidation over the last several decades has led to disparate sources of raw data locked up in legacy systems and proprietary formats.
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.