Latest Compliance - IT Topics

The FRB has proposed changes to three rules that implement "Section 20" restrictions including underwriting, cross-selling, employment, and revenue limits.

Regulatory compliance is brought to us by Congress.

The FDIC has issued a revised FDIC Compliance Examination Manual. The manual incorporates the changes to CRA. The format is a loose-leaf 3-ring binder so that updates can be issued as needed.

The Federal Reserve Board has requested nominations for membership to the Consumer Advisory Council ("CAC").

The FDIC has issued a revised edition of SIDE-BY-SIDE, A guide to Fair Lending.

The Federal Reserve Board has given the public an extra five weeks to comment on its proposal to amend Regulation E.

FinCEN has released guidance on the interim exemption procedures in the form of Q&As. The document clarifies that the interim procedures are in effect, and took effect upon publication.

Question: My bank's indirect lending department wants to draft a "friendly" adverse action letter. They also want to preprint the ECOA notice on the back side of the stationary.

The Americans with Disabilities Act (ADA) requires banks to make "reasonable accommodations" to disabled persons where doing so is "readily achievable." "Reasonable accommodation" means making adj

It's now official. The FRB has withdrawn the proposal to provide guidance on leap year calculations. In short, there will be no change to Regulation DD.