Compliance

Credit Suisse CEO leaves; Fannie, Freddie to buy SOFR mortgages

02/07/20

Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend.

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FDIC not consistent in assessing impact of rules: Watchdog

02/05/20

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

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OCC’s Otting, House Democrats spar over CRA reform

01/29/20

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.

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Verdict coming on OCC's supervision of Wells Fargo

01/28/20

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.

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Bipartisan scolding of FASB chief raises lender hopes of softer CECL

01/16/20

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.

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‘Extraordinarily inefficient’: Scharf’s blunt assessment of Wells Fargo

01/14/20

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.

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GOP lawmaker's bill would repeal small-business loan rules

01/10/20

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.

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Banking 2025, more Wells Fargo woe, compliance turnover: Top stories of the week

01/10/20

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.

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Former Wells Fargo execs may face criminal charges in coming weeks

01/03/20

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.

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Changing of the guard a frequent occurrence in bank compliance

01/03/20

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 old-fashioned demographics.

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