On February 10, 2022, in a most unusual case, the Office of the Comptroller of the Currency (OCC) issued a Consent Order for the payment of a $3,000 civil money penalty to Craig Meader, the president and a board member of First National Bank of Kansas, Burlington, Kansas. The OCC found, and Meader neither admits nor denies, that, during the period from August to September 2020, Meader directed employees to implement extended holds on ACH deposits […]
Tag: Regulation CC
DEPOSIT RECONCILIATION PROCEDURES
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 […]
CFPB PUBLISHES SEMI-ANNUAL AGENDA
Today the Consumer Financial Protection Bureau (CFPB) published it’s semiannual agenda as part of the Fall 2013 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Agenda reflects antipathy actions during the period from October 1, 2012 to October 1, 2013. The next agenda will be published in spring 2013 and will update the agenda through October 1, 2013. According to the agenda the following final rules are expected in January 2013: Regulation X and […]