Apr 4

Apr 4 VIDEO: What is the 6% cap under SCRA

In this Compliance Clip (video), Adam discusses the 6% interest rate cap under the Servicemember Civil Relief Act (SCRA) and how it benefits active-duty military personnel. As interest rates continue to rise, understanding these protections becomes increasingly important for creditors. A transcript of this video is now available.

Dec 23
Dec 23 FDIC Updates Its Consumer Compliance Examination Manual

Paula Parras

Regulatory Update

On December 13, 2024, the FDIC made updates to several sections of its Consumer Compliance Examination Manual. The Consumer Compliance Examination Manual is a primary resource and reference tool for FDIC compliance examination staff to use in support of conducting Consumer Compliance and Community Reinvestment Act examinations and other supervisory activities.

Oct 21
Oct 21 CFPB Sues Climb Credit and 1/0 for Deceptive Lending Practices

Paula Parras

Regulatory Update, UDAAP

Jun 9
Jun 9 JUNE CONTEST: Adverse Action Requirements

Paula Parras

In case you missed our announcement earlier this week, we are we are holding another contest and will be giving away one free enrollment to Adverse Action Requirements class! Our Adverse Action Requirements program takes a deep dive into everything you and your team need to know about adverse action notices.. In this program, we review the adverse action requirements of both Reg B and FCRA, explain disclosure requirements under the FCRA mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), and discuss common adverse action violations. To enter the giveaway, just complete a quick entry form at www.compliancecohort.com/entry. To learn more about this program, go to: www.compliancecohort.com/adverse-action-requirements

Apr 30
Apr 30 First Issue of Consumer Compliance Outlook for 2024 Released

Paula Parras

Regulatory Update

The Federal Reserve System recently published its First Issue of Consumer Compliance Outlook for 2024. Consumer Compliance Outlook is the agency’s publication focusing on consumer compliance topics.

Dec 12
Dec 12 OCC’s 2023 Annual Report

Paula Parras

Regulatory Update

On December 11, 2023, the OCC issued its annual report to Congress which provides an overview of the condition of the federal banking system. The annual report can be beneficial to compliance professionals as it discusses the OCC's strategic priorities and details agency regulatory and policy initiatives.

Sep 6
Sep 6 FDIC Launches Banker Engagement Site for Consumer Compliance and CRA Exam Activities

Paula Parras

Regulatory Update, CRA

On September 5, 2023, the FDIC announced the launching of its new Banker Engagement Site (BES) through FDICconnect. BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations.

Aug 10
Aug 10 Treasury Officials Hold FinCEN Exchange on Combatting Fentanyl Trafficking

Paula Parras

Regulatory Update, BSA

On August 8, 2023, FinCEN Acting Director Himamauli Das joined Treasury Under Secretary for Terrorism and Financial Intelligence (TFI) Brian Nelson in Kentucky and Ohio to highlight FinCEN’s efforts to combat fraud and illegal fentanyl trafficking, as well as its ongoing work to implement beneficial ownership information reporting requirements.

May 17
May 17 FDIC Releases Comprehensive Overview of Deposit Insurance System

Paula Parras

Regulatory Update

On May 1, 2023, the FDIC released a comprehensive overview of the deposit insurance system and options for reform to address financial stability concerns stemming from recent bank failures. The report examines the role of deposit insurance in promoting financial stability and preventing bank runs, as well as policies and tools that may complement changes to deposit insurance coverage.

Apr 21

Apr 21 VIDEO: Requirements for Reg CC Lobby Disclosures

Paula Parras

Regulation CC

In this Compliance Clip (video), Adam talks about the requirements for lobby disclosures under Regulation CC. In other words, Adam discusses and gives an examples of how the notice that tells customers about a bank’s hold practices should be displayed in a bank’s lobby area, based on the requirements of Regulation CC. A transcript of this video is now available.