Recently, the Federal Reserve board introduced a Synthetic Identity Fraud Mitigation Toolkits. The free toolkit consists of four modulus that provide a quick introduction to the topic. Synthetic Identity Fraud: The Basics– explains what synthetic identity fraud is, why you should care, and why fraudsters commit this type of fraud. How Synthetic Identities are Used– describes what is hiding in your portfolio and how fraudsters use synthetics to commit fraud and increase their payouts. When […]
Month: February 2022
CFPB 2022 HMDA REPORTABLE DATA CHART
The CFPB recently posted the Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2022, a 38-page reference chart covering each of the data points required to be collected, recorded, and reported under Regulation C. The chart is a reference tool for data points required to be collected, recorded, and reported under Regulation C. Relevant regulation and commentary sections are provided for ease of reference. The chart also incorporates the […]
FDIC STATEMENT OF 2022 PRIORITIES
On February 7, 2022, FDIC Acting Chairman Martin J. Gruenberg released a statement of the FDIC’s priorities for the coming year. Among other items, the list includes: Strengthen Community Reinvestment Act (CRA): The federal banking agencies – the Federal Reserve, the Comptroller of the Currency, and the FDIC – have been working on a major revision of the rule implementing CRA. CRA requires banks to meet the credit needs of all the communities they serve, including […]