Mar 7
Mar 7 ENTER TO WIN: Reg E Bootcamp!

In case you missed our announcement earlier this week, we are giving away one enrollment to our upcoming Regulation E Bootcamp. Our Regulation E Bootcamp is designed to provide attendees with an overview of the requirements of Regulation E or the Electronic Fund Transfer Act (EFTA), including a deep dive into the liability and error resolution rules of Regulation E. You can learn more about this program at www.compliancecohort.com/regulation-e-bootcamp. To enter for a chance to win one enrollment in our Regulation E Bootcamp, just complete the short entry form at www.compliancecohort.com/entry. All entries must be received by 3/10/25 at 2:59 PM Eastern and the full official contest rules can be found at www.compliancecohort.com/contest.

Mar 6
Mar 6 CFPB Extends Comment Period for Data Rule

Adam Witmer

Regulatory Update

On 3/5/25, the CFPB published in the Federal Register a proposed rule to extend the comment period from the 12/13/24 notice of proposed ruemaking requesting comment on the CFPB’s proposal to amend Regulation V.

Mar 4
Mar 4 FDIC Delays Portion of Official Sign and Advertising Rule

Adam Witmer

Regulatory Update

On 3/3/25, the FDIC announced that it was postponing the compliance date from May 1, 2025 to March 1, 2026 for the requirements under 12 CFR 328.5 related to the display of the FDIC official digital sign on an insured depository institution’s (IDI’s) digital channels, as well as analogous requirements related to IDI’s automated teller machines (ATMs) and like devices under 12 CFR 328.4.

Mar 4
Mar 4 NCUA to Cease Publication of OD/NSF Fee Data

Adam Witmer

Regulatory Update

On 3/3/25, NCUA Chairman, Kyle S. Haptman, announced that the NCUA “will no longer publish overdraft and non-sufficient fund fee income for individual credit unions.” The NCUA will, however, continue to collect the data during supervisory examinations.

Mar 4
Mar 4 FDIC Withdraws Four Proposed Rules

Adam Witmer

Regulatory Update

On 3/3/25, the FDIC announced that it was withdrawing three proposed rules relating to brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA). The FDIC also announced a withdraw of the authority previously approved by the FDIC Board of Directors to publish a proposed rule on incentive-based compensation arrangements.

Mar 3
Mar 3 FinCEN Announces No Fines for BOI Deadline Violations

Adam Witmer

BSA, Regulatory Update

On 2/27/25, FinCEN announced that it will not impose fines, penalties, or any other enforcement actions against companies that fail to file or update beneficial ownership information (BOI) reports under the Corporate Transparency Act by the current deadlines. In a news release, FinCEN stated that “no fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed.”

Mar 2
Mar 2 EARN CEs: Winter 2025 Quarterly Compliance Update

Adam Witmer

Earn 5.0 CRCM/CERP, 0.5 CAFP continuing education credits with our Winter 2025 Quarterly Compliance Update. This program covers all of the regulatory activity that took place during the last quarter of 2024 and is a great way for financial institutions to stay up-to-date on the activity that took place in the regulatory compliance world. Plus, part II of the program focuses on the Reconsideration of Value (ROV) as it relates to appraisals. This section of our program is a great way to get current on what the regulators have been saying as it relates to appraisal bias and ROV expectations. You can learn more about our Winter 2025 Quarterly Compliance Update at www.compliancecohort.com/winter-2025-quarterly-compliance-update.

Feb 28

Feb 28 VIDEO: Reg E Dispute Involving a Previous Merchant

Adam Witmer

Regulation E

In this Compliance Clip (video), Adam responds to a question about how to handle disputes involving a merchant that a consumer has previously used. He explains whether financial institutions can deny a dispute solely based on a customer's history with that merchant, highlighting the requirements set forth by Regulation E.

Feb 28
Feb 28 EARN CEs: UDAAP Bootcamp

Adam Witmer

Earn 5.5 CRCM, CERP, CFMP continuing education credits with our UDAAP Bootcamp. Our UDAAP Bootcamp program provides you with foundational training about Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) as well as helps you know what to look for in your organization. This class covers two main areas. The program starts with a history and overview of UDAAP guidance while it concludes by covering a good number of known UDAAP violations - which attendees can essentially use as a checklist to make sure their organizations are free from many known UDAAP issues that have been cited as violations in other organizations. Plus, this program is currently on sale. To register for our UDAAP Bootcamp program, go to www.compliancecohort.com/udaap-bootcamp.

Feb 28
Feb 28 FinCEN Reminder on Relationship Investment Scams

Adam Witmer

BSA, Regulatory Update

On 2/26/25, FinCEN issued an advisory to remind financial institutions to remain vigilant regarding suspicious activity that may be indicative of relationship investment scams. This alert was issued in support of the multiagency #DatingOrDefrauding Campaign launched by the Commodity Futures Trading Commission to alert the public to relationship investment scams targeting Americans through wrong-numbered texts, dating apps, and social media. The advisory states that losses from romance and confidence scams reported to the Federal Bureau of Investigation exceeded $650 million in 2023.