The Board of Governors of the Federal Reserve System, FDIC, National Credit Union Administration, Office of the Comptroller of the Currency and U.S. Treasury Financial Crimes Enforcement Network issued guidance on applying customer identification program requirements to prepaid cards issued by banks.
News & Insights
FinCEN, the Federal Reserve Board, the FDIC, the National Credit Union Administration and the OCC issued new guidance on suspicious activity reporting for covered financial institutions.
The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.
The Federal Reserve Board, FDIC and OCC said they will continue to work towards aligning capital requirements for banks with the final set of "Basel III" standards.
The Federal Reserve Board, the FDIC and the OCC extended previously issued no-action relief to asset managers and other institutions from regulations that limit extensions of credit to "insiders."