Federal Reserve Revises Framework for Determining Control of a Banking Organization
The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
2/27/2020
/ Bank Holding Company Act ,
Banking Sector ,
CFTC ,
Comment Period ,
Community Reinvestment Act ,
Fannie Mae ,
FDCPA ,
FDIC ,
Federal Reserve ,
FFIEC ,
FHFA ,
Financial Institutions ,
Freddie Mac ,
Ginnie Mae ,
HMDA ,
Mortgage Lenders ,
Mortgages ,
NPRM ,
OCC ,
Securities and Exchange Commission (SEC) ,
Time-Barred Debt ,
Volcker Rule
The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more
1/30/2020
/ Auditors ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Cybersecurity ,
Data Breach ,
Dodd-Frank ,
FDIC ,
Federal Savings Associations ,
FFIEC ,
Financial Abuse ,
Financial Institutions ,
Insurance Industry ,
Legal Opinion ,
New Guidance ,
OCC ,
Payment Systems ,
Popular ,
Reporting Requirements ,
Risk Management ,
Third-Party Service Provider ,
Transaction Fees
FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks
The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more
12/23/2019
/ Agricultural Sector ,
Bank Deposits ,
Bank Secrecy Act ,
Banks ,
Broker-Dealer ,
Brokered Deposits ,
Community Reinvestment Act ,
FDIC ,
FinCEN ,
FinTech ,
Hemp ,
Hemp Related Businesses ,
Marijuana ,
Marijuana Related Businesses ,
NCUA ,
Nonbank Firms ,
OCC ,
Opt-Outs ,
Pending Legislation ,
Proposed Amendments ,
Regulatory Standards ,
Small Banks ,
State Securities Regulators ,
Suspicious Activity Reports (SARs) ,
Underwriting ,
USDA
OCC and FDIC Propose Interest Rate Fix for Loans Transferred to Non-Banks -
The FDIC and OCC have separately proposed rules that would codify the “valid-when-made” doctrine and clarify that when a bank sells, assigns, or...more
11/26/2019
/ Appraisal ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
EGRRCPA ,
FDIC ,
Federal Reserve ,
Final Rules ,
HVCRE Loans ,
Interest Rates ,
IRS ,
Mortgages ,
OCC ,
Regulation Z ,
SAFE Act ,
Tax Cuts and Jobs Act ,
Truth in Lending Act (TILA) ,
Valid When Made Doctrine
Federal Banking Agencies Expand Eligibility to Use Streamlined Call Reports -
The federal banking agencies have adopted a final rule to reduce regulatory reporting requirements for certain banks with total assets of less...more
6/27/2019
/ Best Interest Standard ,
Broker-Dealer ,
Call Reports ,
Community Banks ,
Disclosure Requirements ,
EGRRCPA ,
FDIC ,
FFIEC ,
Final Rules ,
Financial Institutions ,
Liquidity Coverage Ratio ,
Mortgage Lenders ,
Mortgages ,
Municipal Bonds ,
Municipalities ,
New Guidance ,
OCC ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers
The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more
5/30/2019
/ Banking Sector ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Electronic Communications ,
Federal Pilot Programs ,
Federal Savings Associations ,
Final Rules ,
Financial Institutions ,
FinTech ,
HMDA ,
OCC ,
Proposed Amendments ,
Regulation C ,
Reporting Requirements ,
Special Purpose National Bank Charter
Federal Banking Agencies Issue Joint Statement on the Role of Supervisory Guidance -
The federal banking agencies, along with the CFPB and the NCUA, have issued a joint statement clarifying the role of supervisory...more
Headlines -
...OCC to Begin Accepting Applications for Bank Charters for Fintech Companies
...Agencies Issue Rules Implementing 18-Month Exam Cycles for Community Banks...more
8/31/2018
/ Bank Holding Company ,
Banking Examinations ,
Banking Sector ,
Community Banks ,
EGRRCPA ,
FinTech ,
Fintech Charter ,
Liquidity Coverage Ratio ,
Municipal Securities Issuers ,
Notice Requirements ,
OCC ,
Regulation P
Headlines -
...Guidance Issued on Immediate Implementation of Certain Provisions of the EGRRCPA
...Federal Appeals Court Rules That the FHFA Is Unconstitutionally Structured
...OCC Issues Updated Guidance on...more
With Vice President Mike Pence casting the tie-breaking vote, the U.S. Senate has voted to repeal the CFPB’s arbitration rule, which would have prohibited banks and other covered consumer financial service providers from...more
Supreme Court: Bank That Buys Debt for Its Own Account Is Not Debt Collector -
The U.S. Supreme Court recently held that a bank that collects on debts it has bought and holds “for its own account” is not a debt collector...more
6/30/2017
/ Appraisal ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Federal Reserve ,
FIRREA ,
Information Reports ,
OCC ,
Prepaid Payment Products ,
Risk Management ,
SCOTUS ,
Third-Party Service Provider ,
U.S. Treasury
CFPB Delays the Effective Date of New Prepaid Accounts Rule -
The CFPB adopted a final rule on April 20 that delays the general effective date of its rule governing prepaid accounts by six months. The rule will now take...more
4/28/2017
/ Administrative Procedure Act ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
CSBS ,
Data Security ,
Dodd-Frank ,
Fintech Charter ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Non-Bank Lenders ,
OCC ,
Prepaid Payment Products
Fed Raises Threshold That Triggers Review of Systemic Risk of a Proposed Merger -
In a recent decision on a proposed merger of two bank holding companies, the Federal Reserve indicated that it has increased the...more
3/31/2017
/ Broker-Dealer ,
BSA/AML ,
Commercial Real Estate Contracts ,
Dodd-Frank ,
Federal Reserve ,
Fintech Charter ,
Merger Controls ,
OCC ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Threshold Requirements ,
Underwriting
OCC to Consider Fintech Applications for Special Purpose National Bank Charters -
The OCC has announced that it will consider applications for special purpose national bank charters for financial technology...more
12/28/2016
/ Accounting Standards ,
Amended Rules ,
ATMs ,
Bank Fraud ,
Banking Examinations ,
Decriminalization of Marijuana ,
EFTs ,
Final Rules ,
Fintech Charter ,
Foreclosure ,
New Guidance ,
OCC ,
Special Purpose National Bank Charter
The Federal Reserve Board has released a policy statement that details the framework it will follow in setting the Countercyclical Capital Buffer (“CCB”) for private-sector credit exposures located in the United States. The...more
9/30/2016
/ Banking Sector ,
BSA/AML ,
Capital Requirements ,
Community Banks ,
Cybersecurity ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinTech ,
Mortgage Lenders ,
OCC ,
Online Marketplace Lending
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. CFPB Issues FCRA Compliance Guidance for Furnishers of Consumer Information
2. Joint Advisory...more