Federal Reserve: Additional Information Provided to Financial Institutions on How Supervisory Approach Is Adjusted in Light of Coronavirus
The Federal Reserve Board on Tuesday provided additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus. In particular: The Federal Reserve will focus on monitoring and outreach to help financial institutions of all sizes understand the challenges and risks of the current environment; To minimize disruption and…
FDIC: Steps Announced to Protect Banks and Consumers and to Continue Operations
Given ongoing developments related to the coronavirus, the FDIC today announced the following steps to ensure the health and safety of its workforce and the continuity of its operations: Consistent with recent guidance from the Office of Management and Budget, and out of concern for the health of staff that would have been required to participate…
CFPB: Key Steps to Prevent Consumer Harm Announced Including Proposed Whistleblower Award Program
The Consumer Financial Protection Bureau (Bureau) today announced three steps to advance its strategy on one of its key priorities: preventing consumer harm. The Bureau is: Implementing an advisory opinion program to provide clear guidance to assist companies in better understanding their legal and regulatory obligations through advisory opinions; Amending and reissuing its responsible business…
FDIC: CRA Examination Schedule for Second and Third Quarters 2020 Released
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second and third quarter 2020. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The Community…
OCC: Second and Third Quarter 2020 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second quarter and third quarter 2020. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA. Public comments should be submitted…
CFPB: Membership Announced for Taskforce on Federal Consumer Financial Law
The Consumer Financial Protection Bureau (CFPB) today announced four members who will serve on the Taskforce on Federal Consumer Financial Law. The Taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and financial services providers and report to Director Kraninger its recommendations for ways to improve and strengthen…