The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
News & Insights
The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
In a new Bulletin, which replaced and rescinded previous guidance, the Office of the Comptroller of the Currency advised regulated banks to prepare for the reduction in the settlement cycle for regular way trades.
Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
The CFPB summarized the structure, implementation and enforcement mechanisms of a number of state-level Community Reinvestment Acts.