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In today’s banking environment as soon as one big new regulation is implemented another pops up. Our compliance resources help your community bank stay one step ahead of the regulators.
Regulations and GuidanceThe Consumer Financial Protection Bureau released frequently asked questions to help industry participants understand, implement, and comply with the requirements in Regulation Z for “buy now, pay later” products.
The Consumer Financial Protection Bureau issued a circular that says a financial institution violates the Electronic Fund Transfer Act and Regulation E if “there is no proof that it has obtained consumers’ affirmative consent before levying overdraft fees for ATM and one-time debit card transactions.”
The Consumer Financial Protection Bureau issued its annual report to Congress on debt collection, which focuses on medical debt and rental debt.
The Federal Housing Administration published a final rule to update a HUD regulation that requires mortgagees to meet in person with borrowers who are in default on their mortgage payments.
Federal financial regulators requested comment on a proposed rule that would establish data standards for certain information collections submitted to the agencies.
Federal banking regulators formally requested comment on a proposed rule that would amend Bank Secrecy Act requirements for anti-money-laundering and countering-the-financing-of-terrorism programs.
The Consumer Financial Protection Bureau proposed an interpretive rule that says many paycheck advance products are consumer loans subject to the Truth in Lending Act.
The federal government underestimates the amount of time and resources community banks dedicate to reporting suspicious activity, the Independent Community Bankers of America (ICBA) told the Financial Crimes Enforcement Network.
Note: ICBA members can access an additional 2,500 compliance Q&As in ICBA's Compliance Vault