The OCC adopted a rule that makes explicit the circumstances in which a national bank or federal savings association is considered to be the "true lender" in the "context of a partnership between a bank and a third party, such as a marketplace lender. "
A FinCEN and Federal Reserve Board rule proposal to reduce the dollar-value threshold at which the Bank Secrecy Act requires financial institutions to obtain, retain and transmit information on certain fund transfers and transmittals was published in the Federal Register.
The Federal Reserve Board and FinCEN proposed to significantly reduce the dollar-value threshold at which the Bank Secrecy Act requires financial institutions to obtain, retain and transmit information on certain fund transfers and transmittals.
An investment firm was fined $2.9 billion by several authorities for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.
In a newly published resource guide, the FDIC promoted partnerships between "mission-driven" banks and other financial institutions in order to facilitate "critically needed" banking services to those communities where such services are not traditionally accessible or affordable.
A Federal Reserve Board Advance Notice of Proposed Rulemaking soliciting comment on policies to modernize the "regulatory and supervisory framework" of the Community Reinvestment Act was published in the Federal Register.
An SEC final rule rescinding Industry Guide 3 concerning statistical disclosures that banking entities and bank holding companies provide in their registration statements, was published in the Federal Register.
The Federal Reserve Board, OCC and FDIC final rule that allows financial institutions an additional 120 days following a real estate closing transaction to obtain an appraisal or evaluation of the property was published in the Federal Register.
The FDIC, the Federal Reserve Board, the OCC and the National Credit Union Administration issued an exemption from customer identification program requirements for banks extending loans to facilitate a borrower's purchase of property and casualty insurance policies.
New York State Department of Financial Services Superintendent Linda A. Lacewell described how the agency is supporting state initiatives to combat climate change and continued to urge the insurance industry to factor these financial risks into management, operations and business strategies.
The Federal Reserve Board proposed amendments to conform the capital planning, regulatory reporting and stress capital buffer requirements for certain firms to the requirements under the FRB's tailoring framework.
The Federal Reserve Board, OCC and FDIC adopted a final rule that allows financial institutions an additional 120 days following a real estate closing transaction to obtain an appraisal or evaluation of the property.
Technical corrections to an OCC, Federal Reserve Board and FDIC standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule'" were published in the Federal Register.