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.
Six regulatory agencies requested comment on a proposed rule regulating incentive-based compensation arrangements at covered institutions as required by the Dodd-Frank Act.
Multiple agencies requested comment on a joint proposal that would limit incentive-based compensation arrangements at covered institutions. The request for comment was published in the Federal Register.
The Board of Governors of the Federal Reserve System, FDIC, National Credit Union Administration and the Office of the Comptroller of the Currency provided guidance on a new accounting standard introducing a methodology for estimating allowances for credit losses.
In a Joint Report submitted to Congress, member agencies of the Federal Financial Institutions Examination Council and the National Credit Union Administration outlined interagency and agency actions to reduce regulatory burdens on financial institutions.