Compliance

HSBC promotes Lowthian to head of U.S. compliance

07/23/20

Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.

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New Jersey bank hit with consent order tied to BSA compliance

07/14/20

Unity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws.

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The reprieve on Libor won’t last forever. Lenders need to prepare.

07/13/20

Regulators can only delay the move to a new interest rate index alternative for so long.

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Will CFPB advisory opinions offer clarity, or give companies a pass?

07/01/20

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

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Netflix to deposit $100M in Black-owned banks; OCC warns on compliance risks

07/01/20

The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs.

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Referendum on data privacy coming to California in November

06/28/20

Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.

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Supervision: Sharp focus on tech capability, customer well-being

06/23/20

The pandemic will accelerate the drive toward a supervision process in which both regulators and banks will need the digital tools that enable sophisticated remote exams. Expect a heightened focus, too, on customers' financial health.

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CFPB gives mortgage servicers relief to help struggling homeowners

06/23/20

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

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Digital dollar seems inevitable, but details remain fuzzy

06/11/20

The push for a public option to digitize government payments has gotten stronger, and the discussion has moved on from whether it should happen to how it should happen.

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Trade orgs say FHLBank targets may increase small member participation

06/10/20

Groups representing community banks and credit unions generally support the new percentage-based goals set by the Federal Housing Finance Agency.

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