OCC POSITION ON CRYPTO
Category: OCC
On January 13, 2022, Acting Comptroller Michael J. Hsu Remarks shared remarks regarding Crypto with the British-American Business Transatlantic Finance Forum Executive Roundtable. Crypto has rapidly gone mainstream. Five years ago, the total market capitalization of all cryptocurrencies was around $100 billion. Today it is over $2 trillion. Anyone with an internet connection can invest in over 12,000 different cryptocurrencies, purchase digital art and collectibles through non-fungible tokens (NFTs), and buy “property” in the metaverse.
MCWILLIAMS RESIGNS
Category: FDIC
On December 31, 2021, the Federal Deposit Insurance Corporation announced that Chairman Jelena McWilliams was resigning effective February 4, 2022. Jelena McWilliams was appointed by President Donald Trump in 2018 to serve a five-year term as chairman of the independent regulatory agency. But following repeated disagreements with her Democratic colleagues over potential banking revisions, she issued a statement on New Year’s Eve saying she would leave her post on Feb. 4. The move is likely to give
LEP – ANOTHER CLOSE HIT
Category: Fair Housing, HUD
On November 29, 2021, the Department of Housing and Urban Development (HUD) and Inland Fair Housing and Mediation Board announced it has reached a Conciliation/Voluntary Compliance Agreement with National Community Renaissance; National Community Renaissance of California; Desert Meadows Housing Partners, LP; Victorville Housing Partners L.P.; and Cathedral Family Housing Partners, L.P., management agents and owners of four HUD-subsidized apartment complexes in southern California, resolving allegations that the property managers refused to rent to or provide adequate language services
Happy Holidays
Category: Uncategorized
All of us at Compliance Resource wish all of you the happiest of happy holiday seasons. Enjoy this special time with your families. Stay safe.
FINAL 2022 LENDING THRESHOLDS PUBLISHED
Category: CFPB, HMDA, Regulation C, Regulation Z, Truth in Lending
On December 23, 2022, the Consumer Financial Protection Bureau (CFPB) published the final 2022 lending thresholds. The CFPB published a final rule amending Regulation C to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the 4.7 percent increase in the average of the CPI-W for the 12-month
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