The CFPB proposed extension of an exemption allowing insured institutions to disclose estimates to consumers of the exchange rate and covered third-party fees was published in the Federal Register. Comments on the proposal must be submitted by January 21, 2020.
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The Federal Reserve Board, the FDIC, FinCEN, the OCC and the Conference of State Bank Supervisors clarified the legal status of hemp and Suspicious Activity Report obligations for banks under the Bank Secrecy Act.
The CFPB proposed extending an exemption that allows insured institutions to disclose estimates to consumers of the exchange rate and covered third-party fees when sending international money or remittance transfers.
In a newly published consultative document, the Bank for International Settlements Basel Committee on Banking Supervision proposed several "limited adjustments" to the credit valuation adjustment risk framework.