More about financialinstitution@CLAconnect.com
Blog Posts by financialinstitution@CLAconnect.com:
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Exam Procedures for Prepaid Accounts Rule
In a financial institution letter, FIL-9-2019, the Federal Deposit Insurance Corporation (FDIC) announced that it has adopted interagency examination procedures to incorporate the Consumer Financial Protection Bureau’s (CFPB) changes to Regulations E and Z for prepaid accounts.
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CFPB Releases Payday Lending Small Entity Compliance Guide
The Consumer Financial Protection Bureau (CFPB) released the February 2019 edition of the “Payday, Vehicle Title, and High-Cost Installment Lending Rule: Payment-Related Requirements” small entity compliance guide.
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Disclosure Sandbox Not Just for FinTech
On February 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued an update to the headline of a blog it issued back on September 13, 2018.
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CFPB Identifies Fair Lending Violations
On February 12, 2019, the Consumer Financial Protection Bureau (CFPB) announced that it was presenting to Congress its Semi Annual Report Fall 2018.
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Treasury Disputes AML/CFT Deficiencies List
On February 13, 2019, the Treasury Department released a statement critical of a recently released list by the European Commission of purportedly high-risk jurisdictions posing significant threats to the European Union’s Anti-Money Laundering and Countering the Financing of Terror (AML/CFT) regimes.
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Congressional Hearing on Marijuana Banking Services
On February 13, 2019, the U.S. House Committee on Financial Services will hold a hearing titled “Challenges and Solutions: Access to Banking Services for Cannabis Related Businesses.”
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BSA Officers Target of Phishing Campaign
Credit union Bank Secrecy Act (BSA) officers were apparently the target of a recent phishing campaign
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CFPB Proposes Rescinding Certain Provisions of Payday Lending Rule
On February 6, 2019, the Consumer Financial Protection Bureau (CFPB) issued two proposals rescinding provisions in the 2017 “Payday, Vehicle Title, and Certain High-Cost Installment Loans” final rule.
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CFPB Posts TRID FAQs
On January 25,2019, the Consumer Financial Protection Bureau (CFPB) posted three Frequently Asked Questions (FAQs) on the Truth in Lending Act – Real Estate Settlement Procedures Act Integrated Disclosure (TRID) Rule.
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Private Flood Insurance Final Rule
The Office of the Comptroller of the Currency, Treasury, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and the National Credit Union Administration announced a final rule requiring financial institutions to accept flood policies meeting the definition of “private flood insurance” in the Biggert-Waters Act.