A commercial bank settled parallel CFPB and OCC charges for (i) deceptive practices in marketing prepaid debit card program and (ii) deficiencies in its operational and risk management controls.
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In a revised interagency statement, banking regulators clarified certain accounting and reporting factors under the Coronavirus Aid, Relief, and Economic Security Act.
A bank settled OCC charges for violating the statutory holding period for "other real estate owned" and failing to implement corrective measures.
The Federal Reserve Board, FDIC and Office of the Comptroller of the Currency rule release, adopting rules to reduce reporting requirements for eligible small depository institutions, was published in the Federal Register.
The Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency adopted rules intended to reduce the number of reporting requirements for eligible small depository institutions.