Compliance Newshub
Federal Legislation

The 2022 Distressed or Underserved Nonmetropolitan Middle-income Geographies list is now available on the FFIEC CRA website.

Various sections of the Federal Deposit Insurance Corporation's (FDIC's) Consumer Compliance Exam Manual have been updated.

The Office of the Comptroller of the Currency (OCC) has issued the updated host state loan-to-deposit ratios for Community Reinvestment Act purposes.

A joint alert from the Financial Crimes Enforcement Network (FinCEN) and the U. S. Department of Commerce's Bureau of Industry and Security (BIS) was issued to financial institutions, encouraging vigilance in identifying individuals or entities attempting to evade BIS export controls implemented in connection with the Russian Federation’s further invasion of Ukraine.

Consumer Financial Protection Bureau is amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), to address recent legislation that assists consumers who are victims of trafficking.

The CFPB is seeking data about credit card late fees and late payments, assessing whether those fees are “reasonable and proportional.”

The CFPB is seeking public comments about debt that workers take on to pay for trainings, equipment, or other items or services required by their employer.

DS News--Eric C. Peck

The U.S. House of Representatives passed HR 2543, The Financial Services Racial Equity, Inclusion, and Economic Justice Act, by a vote of 215-207 to increase equity and inclusion in financial services.

The CFPB is requesting public input on providing customers the ability to assert their big bank customer service rights and the obstacles that can prevent people from receiving high standards of customer service and high-quality human interactions with their banks or credit unions.

An FFIEC press release indicates that 2021 data reported under the Home Mortgage Disclosure Act (HMDA) is now available.

DS News - Kyle G. Horst

The Federal Reserve raises the average interest rate by three-quarters of a point.

Reverse Mortgage Daily - Chris Clow

The Financial Crimes Enforcement Network (FinCEN) has issued a bulletin warning financial institutions of the increased occurrences of elder financial abuse through theft and scams.