Archive

  This week’s headlining news item is the latest on CRA Modernization. A joint press release from the FDIC, OCC, and FRB issued today announced that due to pending litigation, they intend to rescind the Community Reinvestment Act final rule issued October 2023 and reinstate the framework that existed prior to its release. We’ll be closely watching how the agencies approach CRA implementation and will be sure to share insights and updates with you here. […]

  This compliance news round up features developments from the OCC, Federal Reserve, The Treasury, and others. Continue reading to catch up on the most recent news impacting our industry. Federal Reserve Governor Bowman Nominated to be Vice Chair for Supervision March 17, 2025 Federal Reserve Board Governor Michelle W. Bowman has issued a statement following her nomination by the president to be Vice Chair for Supervision of the Board of Governors of the Federal […]

Despite the increasing adoption of digital payments, check fraud remains a significant challenge for financial institutions. According to FinCEN, check fraud losses in the U.S. totaled $21 billion in 2023, representing nearly 80% of global check fraud losses. The FTC reported that check fraud was high on the list of frauds that cost consumers over $10 billion in 2023. The persistent threat of check fraud has far-reaching consequences for the banking industry. Financial institutions face […]

Earlier today, The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC), issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The CRA is designed to ensure federally insured banks meet the credit needs of the communities in which they do business, especially low- and moderate-income (LMI) communities.  The press release announcing the CRA Modernization’s final rule emphasizes that […]

The federal bank regulatory agencies are announcing the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003). The 2023 guide reflects a technical amendment to the 2020 HMDA rule to adjust the loan volume thresholds effective January 1, 2023,2 for reporting HMDA data on […]