January, 2018
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CFPB Adjusts Maximum Amounts for CMPs
On January 12th, the Consumer Financial Protection Bureau (CFPB) issued a final rule adjusting for inflation the maximum amount of various civil money penalties (CMPs) it can issue.
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Citibank Penalized $70 Million for BSA Violations
On January 4th the Office of the Controller of the Currency (OCC) imposed a $70 million penalty on Citibank for violating a 2012 Cease and Desist Order which identified Bank Secrecy Act (BSA) and anti-money laundering (AML) program violations.
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Justice Department Rescinds Marijuana Guidance
On January 4th the Department of Justice issued a memo rescinding five previously issued guidance documents on federal marijuana enforcement policy, including the Cole memo.
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OCC, FDIC, and CFPB Pledge HMDA Leniency
On December 21, the OCC, FDIC and CFPB each announced that they do not intend to require resubmission of Home Mortgage Disclosure Act (HMDA) data for non-material data errors.