News Topic: Compliance

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions. ... Read full article

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become. ... Read full article

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring. ... Read full article

Lenders grew more optimistic that Congress will undo or narrow the loan-loss accounting standard after members of a House subcommittee assailed Russell Golden for approving the rule without studying its impact on credit availability. ... Read full article

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal. ... Read full article

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington. ... Read full article

Potential sources of industry upheaval, and how to adapt; former Wells Fargo execs may face criminal charges in coming weeks; why banks have such high turnover of chief compliance officers; and more from this week's most-read stories. ... Read full article

Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-account scandal and could be indicted as soon as this month. ... Read full article

Banks had the highest turnover of chief compliance officers among the 100 largest financial services firms in the world, according to a recent study. Recruiters say that’s a function of changing job demands, high pressure and poaching by fintechs — plus ... Read full article

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase. ... Read full article

The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period. ... Read full article

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter. ... Read full article

Many large lenders pointed regulatory restrictions on their balance sheets and reduced risk appetite to explain why they stood on the sidelines during the September spike in overnight funding rates, according to a Federal Reserve survey of senior credit ... Read full article

The two Democrats sent a letter “raising grave concerns about whether the bureau is fulfilling its statutory obligations.” ... Read full article

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, the agency has not filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years. ... Read full article

An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering turning to the Supreme Court. ... Read full article

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards. ... Read full article

The National Credit Union Administration board signed off on a controversial budget, and it delayed its risk-based capital rule to buy itself time amid complaints by bankers. ... Read full article