More about financialinstitution@CLAconnect.com
CLA’s financial institution regulatory compliance team assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, and training staff on regulations. Justin Robinson is a member of CLA’s regulatory compliance team and can be reached at justin.robinson@CLAconnect.com.
Blog Posts by financialinstitution@CLAconnect.com:
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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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OFAC Releases Framework for Compliance
On May 2, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued “A Framework for OFAC Compliance Commitments”.
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CFPB Releases Highly Anticipated Fair Debt Collection Proposal
On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (proposal) to implement the Fair Debt Collection Practices Act (FDCPA).
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Agencies Providing Webinar on Flood Insurance Rule Changes
n June 18, 2019, the federal financial regulatory agencies are providing a webinar on the recent updates to the federal flood insurance regulations regarding accepting private flood insurance policies.
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Good News – More HMDA Relief Possible
On May 2, 2019, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) and an Advance Notice of Proposed Rulemaking (ANPR) on the Home Mortgage Disclosure Act (HMDA).
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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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Federal Reserve Issues Enforcement Action for BSA Violations
On April 25, 2019, the Federal Reserve Board issued an enforcement action against Sumitomo Mitsui Banking Corporation, Tokyo, Japan (bank) for Bank Secrecy Act (BSA) violations.
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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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Money Transmitter Receives Civil Money Penalty for Failing to Register as MSB
On April 18, 2019, the Financial Crimes Enforcement Network (FinCEN) announced it assessed a civil money penalty against a peer-to-peer exchanger of convertible virtual currency for violating the Bank Secrecy Act (BSA).
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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.