News Topic: Compliance reviews
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The WhatsApp record-keeping violations that brought banks $1.8B in fines
We'll be back: OCC examiners are more effective on-site
The acting head of the agency says it cannot continue relying on web-based exams put in place during the coronavirus and will start sending staff into banks. ... Read full article
Sexual harassment widely experienced, but rarely reported in mortgage lending
More than 70% of women mortgage professionals have experienced sexual harassment in the workplace, but these incidents go drastically underreported, according to a recent Mortgage Bankers Association survey. ... Read full article
Otting defends OCC's steps to improve supervision post-Wells scandal
Comptroller of the Currency Joseph Otting on Thursday again took issue with Senate Democrats over their concerns about the pace of internal supervisory changes. ... Read full article
Misguided data freeze keeps CFPB from doing its job: Warren
Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues. ... Read full article
FDIC terminates consent order with Discover
The 3-year-old order was related to Discover Bank’s programs for combating money laundering. A related agreement with the Federal Reserve Bank of Chicago remains in effect. ... Read full article
How much should a bank board know?
As the Federal Reserve retools its supervisory approach to bank boards, some critics fear the changes may go too far. ... Read full article
FIS expensed strip clubs, padded timesheets during Ocwen audit, lawsuit claims
Auditors performing a review of Ocwen Financial padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services. ... Read full article