Regulatory Compliance
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Facebook Announces Changes to Improve Fair Housing Compliance
On March 19, 2019, Facebook announced that it is changing its platform for housing, employment, and credit advertisements
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CFPB Describes New Law Protecting Minors from Identity Theft and Fraud
The Consumer Financial Protection Bureau (CFPB) recently issued a blog post on a new federal law providing more protection to minors under 16 years of age from identity theft and fraud.
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CFPB Releases New Supervisory Highlights
The Consumer Financial Protection Bureau (CFPB) released Issue 18, Winter 2019 of Supervisory Highlights
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FinCEN Issues Advisory on FATF Updates
On March 8, 2019, the Financial Crimes Enforcement Network (FinCEN) issued advisory FIN-2019-A001 on updates to the Financial Action Task Force (FATF) list of jurisdictions with anti-money laundering and combatting the financing of terrorism (AML/CFT) deficiencies
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Key HMDA Data Fields
On March 7, 2019, the Office of the Comptroller of the Currency (OCC) released OCC Bulletin 2019-12 notifying national banks of the key Home Mortgage Disclosure Act (HMDA) data fields.
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Fed Issues Regulation D ANPR
On March 6, 2019, the Federal Reserve Board (Fed) issued an Advance Notice of Proposed Rulemaking (ANPR) on whether to amend Regulation D.
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SARs Reveal Widespread Elder Abuse
On February 26, 2019, the Consumer Financial Protection Bureau (CFPB) released a report detailing its study of elder financial exploitation (elder abuse) as evidenced by Suspicious Activity Reports (SARs).
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OCC Issues BSA Consent Order
On February 21, 2019, the Office of the Comptroller of the Currency (OCC) issued a consent order against MUFG Bank for violations of the Bank Secrecy Act (BSA).
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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.