Greetings from the Manchester Grand Hyatt in sunny San Diego, CA! The locals say we are in the middle of the “June Gloom” with some hazy weather but there is plenty of energy at the ABA regulatory compliance gathering. Hundreds in the banking compliance community have come together to share knowledge and make connections with other like-minded professionals. As always, the ABA puts on a premier event with offerings in subjects across the entire spectrum
The 2016 ABA Regulatory Compliance Conference (RCC) begins on Sunday June 12, 2016 at the Manchester Grand Hyatt Hotel in San Diego, CA. Nearly 2,000 attendees will learn, and play, in a beautiful hotel in a beautiful city. Before the conference concludes mid-day on Wednesday participants have the opportunity to attend more than 50 unique sessions. including peer groups and town hall meetings. Topics include TRID, HMDA, Fair Lending , Flood Insurance, Military Lending Act,
As promised in the 2016 spring semi-annual agenda, the CFPB released today its proposal to end payday debt traps for consumers. The proposed protections will cover those products that have developed a stigma of being harmful to consumers, including payday loans, auto-title loans, deposit advance products, and certain high-cost installment and open-end products. While these may not be common products utilized in your financial institution, there may be a loan or two lurking on your
DEPOSIT RECONCILIATION PROCEDURES
Category: CFPB, Expedited Funds Availability Act, FDIC, Federal Reserve Board, Regulation CC, UDAAP
On May 18, 2016 the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), the Consumer Financial Protection Bureau (CFPB), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) issued guidance to ensure that financial institutions are aware of the Agencies’ supervisory expectations regarding deposit-reconciliation practices that may be detrimental to customers. Summary This guidance addresses a set of
The CFPB recently released its spring 2016 semi-annual agenda. There are many repeat items listed in this agenda that were also present in the fall 2015 agenda (see Jack’s December 10, 2015 blog article). Those items repeated from the fall 2015 agenda appear to be either getting closer to final regulatory release or are being pushed further down the priority list. Some of the items mentioned in the agenda that we may see action on
Why we blog . . .
The ever-changing laws, regulations, proposals, deadlines, and guidance are a lot for anyone to manage and keep up with so let us do the work for you. Our blog is designed to help compliance professionals by releasing updates as soon as the news breaks. Our Compliance Resource team is researching, following, and monitoring government agencies and regulators to give you all the latest and greatest compliance news. Our goal is to work harder so you don’t have to.