Oct 3
Oct 3 SCRA/MLA Training Now Available

We have a number of compliance training programs available in our store. UDAAP to Fair Lending to Regulatory Updates. Go to www.compliancecohort.com/store to view all of our programs.

Sep 29
Sep 29 NMLS Updates Policy Guidebook

Adam Witmer

Regulatory Update, SAFE Act

On 9/27/2021, the Nationwide Multistate Licensing System & Registry (NMLS) updated its Policy Guidebook. Updates to the Guidebook appear to be minor, such adding new language in the definition of Main Address to describe when a physical address is required.

Sep 27
Sep 27 FinCEN Starts Process for New Antiquities Regulations

Adam Witmer

Regulatory Update, BSA

On 9/23/21, the Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a range of questions related to the implementation of amendments to the Bank Secrecy Act (BSA) regarding the trade in antiquities. This ANPRM is the first in a series of regulatory actions that FinCEN will undertake to implement Section 6110 of the Anti-Money Laundering Act of 2020 (AML Act), which became law on January 1, 2021.

Sep 27
Sep 27 CFPB Report on Complaints by Location

Adam Witmer

Regulatory Update, Compliance Management

On 9/23/21, the Consumer Financial Protection Bureau (CFPB) released its first in-depth report analyzing complaint submission patterns by U.S. Census tract. The report, “Consumer complaints throughout the credit life cycle, by demographic characteristics,” finds that the complaints from wealthier communities and communities with higher percentages of white, non-Hispanic residents were more frequently about loan origination and performing servicing, while the complaints from communities of color and lower income communities were more frequently about credit reporting, identity theft, and delinquent servicing.

Sep 23
Sep 23 OCC Updates Handbook for Earnings and Regulatory Reporting

Adam Witmer

Regulatory Update

On 9/22/21, the Office of the Comptroller of the Currency (OCC) issued versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook. These booklets are prepared for use by OCC examiners in connection with their examination and supervision of banks under their supervision.

Sep 20
Sep 20 SAR Guidance on Child Exploitation

Adam Witmer

BSA, Regulatory Update

On 9/16/21, the Financial Crimes Enforcement Network (FinCEN) issued a notice (FIN-2021-NTC3) to call attention to an increase in online child sexual exploitation (OCSE). The Notice provides financial institutions with specific suspicious activity report (SAR) filing instructions, and highlights some financial trends related to OCSE.

Sep 15
Sep 15 New OCC Booklet on Problematic Bank Supervision

Adam Witmer

Regulatory Update

On 9/13/21, the Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. This booklet is part of the Examination Process series of the Comptroller's Handbook.

Sep 14
Sep 14 HMDA FIG Updated for 2022

Adam Witmer

HMDA, Regulatory Update

The HMDA Filing Instructions Guide (FIG) has been updated for data collected in 2022. As this guide is updated an an annual basis for the new year, there appears to be minimal changes in the newest version of the Guide.

Sep 9
Sep 9 OCC Proposal to Rescind 2020 CRA Rule

Adam Witmer

Regulatory Update

On 9/8/2021, the OCC announced that it is soliciting comments on proposed rules to rescind the Community Reinvestment Act (CRA) rule issued in 2020 and replace it with rules adopted jointly by the Federal banking agencies in 1995, as amended. The OCC explains that the proposed rules would align the OCC’s CRA rules with the current Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation rules and thereby facilitate the on-going interagency work to modernize the CRA regulatory framework and create consistency for all insured depository institutions.

Sep 8
Sep 8 Agencies Extend Comment Period for 3rd Party Risk Management

Adam Witmer

Compliance Management, Regulatory Update