Compliance News

The OCC issued guidance on the applicability of the legal lending limit to purchased loans.

As part of ICBA’s efforts to ensure a recent court decision granting temporary injunctive relief from the Consumer Financial Protection Bureau’s Section 1071 final rule applies to all community banks, ICBA on Friday filed a motion and complaint calling on the court to invalidate the final rule and enjoin the CFPB from enforcing it.

The Federal Financial Institutions Examination Council announced updated sections and related examination procedures in its Bank Secrecy Act/Anti-Money Laundering Examination Manual.

ICBA is taking steps to ensure that a recent court decision granting temporary injunctive relief from the Consumer Financial Protection Bureau’s Section 1071 final rule applies to all community banks, ICBA President and CEO Rebeca Romero Rainey said in a message to ICBA members.

The Independent Community Bankers of America (ICBA) today commended the House Financial Services Committee for advancing an ICBA-advocated resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting requirements.

The House Financial Services Committee voted 29-21 to advance an ICBA-advocated resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule.

The FDIC, Federal Reserve, and OCC released an interagency proposed rule to strengthen capital standards on the largest banks and explicitly said they would not apply to community banks.

The Consumer Financial Protection Bureau released a new Supervisory Highlights report on unfair, deceptive, and abusive acts or practices across various consumer financial products.