Regulatory relief

FDIC brokered deposits plan aims to give banks flexibility

12/12/19

The proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds.

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CRA cheat sheet: New regime would look very different

12/12/19

The long-awaited proposal by the OCC and FDIC to modernize the Community Reinvestment Act would seek to make grading simpler and more transparent while allowing banks to spread loans and investments across a broader geographic area.

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FDIC chief pitches brokered deposit rewrite, urges Congress to do more

12/11/19

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute.

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Warren, Brown object to CFPB plan to issue formal advisory opinions

12/06/19

The two Democratic senators said the bureau's policy could allow companies to circumvent consumer finance laws.

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FDIC board to vote on CRA reform plan next week

12/06/19

The meeting scheduled for Dec. 12 will also include discussion of a proposal on the agency's definition of brokered deposits.

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FDIC asks for feedback on its approach to cost-benefit analysis

12/03/19

The agency said it plans to make its cost-benefit process “more structured” and incorporate “a number of analytical practices identified in standard references.”

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CFPB proposes expanding safe harbor in remittance rule

12/03/19

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

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Banking hemp no longer requires filing SARs: Regulators

12/03/19

The Financial Crimes Enforcement Network and other regulatory agencies confirmed that the recent legalization of the substance eases banks' anti-money-laundering requirements.

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Early-bird special: CFPB to reward firms that quickly fix violations

12/02/19

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.

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Is it now or never for AML reform?

11/28/19

The 2020 elections and a potential new chair of the Senate Banking Committee in the next Congress could put a deadline on passage of a bill to ease a key anti-money-laundering requirement for banks.

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