Deposits
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Regulation E: What Everyone is Talking About
Reg E is a very customer-centric regulation, and that concept does not appear to be changing anytime soon.
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Mail Theft and Fraud and SARs…“Oh My!” FinCEN Alert on Mail Theft and SAR Requirements
Have you heard that checks are a dying breed? The industry has been saying that longer than I have been in banking, and that more than half the time I have been alive, yet checks are still being negotiated! According to an article by the Federal Reserve Bank of Atlanta, while checks as a preferred […]
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FinCEN Guidance and Advisory on Virtual Currencies
On May 9, 2019, the Financial Crimes Enforcement Network (FinCEN) issued both guidance and an advisory on virtual currencies
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New York State Creates New Consumer Protection and Enforcement Division
On April 29, 2019, the New York State Department of Financial Services announced a newly created Consumer Protection and Financial Enforcement Division.
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CFPB Requests Information on the Remittance Transfer Rule
On April 25, 2019, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) on the remittance transfer rule.
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CFPB Director Presents Agency Agenda
On April 17, 2019, the Consumer Financial Protection Bureau (CFPB) Director, Kathleen L. Kraninger, spoke at the Bipartisan Policy Center on her agenda for the agency.
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Online Lender Settles Deceptive and Unfair Loan Charges for $3.85 million
On April 15, 2019, Avant LLC (Avant), an online lending company, settled Federal Trade Commission (FTC) charges that it engaged in deceptive and unfair lending practices
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OMB Announces New Rule Review Process
On April 11, 2019, the Acting Director of the Office of Management and Budget (OMB) issued a memo requiring all agencies to provide new rules to it before they are issued
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Community Banking and Fintech
On April 11, 2019, the Board of Governors of the Federal Reserve System released a speech by Federal Reserve Governor Michelle W. Bowman at the “Fed Family” luncheon at the Federal Reserve Bank of San Francisco.
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Bank Assessed Another $639 Million for OFAC Violations
As we blogged on April 9, 2019, the Federal Reserve Board (Fed) fined Standard Chartered PLS and Standard Charter Bank (bank) $164 million for Office of Foreign Assets Control (OFAC) sanctions controls violations.