Compliance News

The FDIC conducted roughly 1,000 consumer compliance examinations last year and found supervised institutions demonstrated effective management of their consumer compliance responsibilities, the agency said.

The Consumer Financial Protection Bureau launched a technical support program to help financial institutions implement and comply with its newly released Section 1071 final rule.

The Consumer Financial Protection Bureau issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes precedent.

The Financial Crimes Enforcement Network issued an analysis on patterns and trends identified in Bank Secrecy Act data relating to business email compromise in the real estate sector in 2020 and 2021.

Acting Comptroller of the Currency Michael Hsu said not all overdraft fees present equal compliance risks and spotlighted “authorize positive, settle negative” and re-presentment fees as particularly risky.

Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Consumer Financial Protection Bureau’s final rule implementing data collection and reporting requirements for small-business loans.

The Independent Community Bankers of America (ICBA) and 42 affiliated state banking associations today called on the Consumer Financial Protection Bureau to approve a proposed template that would improve mortgage disclosures required under TILA-RESPA Integrated Disclosure (TRID) rules.

The Consumer Financial Protection Bureau said state disclosure laws covering lending to businesses in California, New York, Utah, and Virginia are not preempted by the federal Truth in Lending Act.