News Topic: Compliance

The Department of Financial Services is going live with DFS FastForward, which aims to help innovators in finance, healthcare and insurance consult directly with regulators on specific compliance issues. ... Read full article

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering. ... Read full article

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing. ... Read full article

Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times. ... Read full article

The pair created a website that will help borrowers in the Paycheck Protection Program apply for loan forgiveness. ... Read full article

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential. ... Read full article

The order's removal allows the Delaware company to pursue more opportunities in its payments business. ... Read full article

The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation. ... Read full article

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's ... Read full article

Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road. ... Read full article

Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic. ... Read full article

Recent breaches and a pandemic-driven strain on cloud computing seemed to prompt a regulatory warning that banks, tech vendors and cloud hosts share an obligation to safeguard customer data — no matter where it resides. ... Read full article

The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act. ... Read full article

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted. ... Read full article

The Federal Reserve is temporarily altering the growth restriction it placed on Wells Fargo in 2018 so that the bank can make additional loans to small and midsize business that need funding to weather the coronavirus pandemic. ... Read full article

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and ... Read full article

The regulator formally announced the 60-day delay on Monday after tweeting about it over the weekend. ... Read full article

Citigroup CEO says it’s a “fine line” between supporting customers and burdening them with debt; Goldman gives away 600,000 N95 masks it had from prior scares. ... Read full article