Edit: On September 26, 2024 the President signed legislation passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to Dec. 20, 2024. ________ The National Flood Insurance Program (NFIP) is set to expire September 30th, 2024, unless congress votes to extend it. Is your institution prepared to handle a Flood Insurance Lapse? Here’s what that means for your financial institution: Your institution’s ability to close loans requiring Flood Insurance will be
As we navigate the ever-evolving landscape of compliance, staying informed about regulatory updates is crucial for your organization’s success. Earlier this month we released our 2024 Year-To-Date Regulatory Review – a comprehensive, free resource designed to keep you ahead of the curve. This free downloadable PDF offers a concise overview of the most significant regulatory changes and trends that have emerged from January through August of this year. Whether you’re a compliance officer, risk manager,
Federal Regulators Extend Comment Period For RFI on Bank-Fintech Partnerships
Category: FDIC, Federal Reserve Board, OCC
On September 13, 2024, Federal regulators (FDIC, OCC, FBR) announced an extension of the comment period for its Request for Information (RFI) concerning partnerships between banks and financial technology (fintech) companies. Originally set to close at the end of September 2024, the new deadline is now October 30, 2024. Key Highlights of the Announcement Purpose of the RFI: The regulators aim to gather insights on the evolving landscape of bank-fintech partnerships, particularly regarding how these
FDIC Releases Second Set of Q&A on Required Use of FDIC Logo: Key Takeaways for Financial Institutions
Category: FDIC
FDIC Releases Second Set of Q&A on Required Use of FDIC Logo: Key Takeaways for Financial Institutions In a move to ensure clarity around compliance with its regulations, the Federal Deposit Insurance Corporation (FDIC) has issued a second set of Questions and Answers (Q&A) on its final rule, “Use of the FDIC Official Sign and Advertising Statement” (Part 328). This new release builds on the FDIC’s ongoing efforts to promote transparency and guide banks
Download our FREE Section 1071 guide, “An Introduction to Section 1071: Small Business Lending Data Collection Requirements,” to understand how the latest regulatory changes will reshape the landscape of small business lending. Written by the experts here at COMPLIANCE RESORUCE, this paper will help you… Comprehensive Overview of Section 1071: Gain a thorough understanding of the key elements of the new regulation and its implications for financial institutions. Implementation Timeline: Learn about the critical
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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.