Christopher J. Waller sworn in as a member of the Board of Governors of the Federal Reserve System

Christopher J. Waller sworn in as a member of the Board of Governors of the Federal Reserve System

Christopher J. Waller sworn in as a member of the Board of Governors of the Federal Reserve System

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20201218a.htm

Federal Reserve Board votes to affirm the Countercyclical Capital Buffer (CCyB) at the current level of 0 percent

Federal Reserve Board votes to affirm the Countercyclical Capital Buffer (CCyB) at the current level of 0 percent

Federal Reserve Board votes to affirm the Countercyclical Capital Buffer (CCyB) at the current level of 0 percent

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20201218c.htm

Office of the Comptroller of the Currency Issues Interpretation of 12 U.S.C. § 25b

The Office of the Comptroller of the Currency (OCC) today issued an interpretation of 12 U.S.C. 25b, which codifies preemption standards and establishes procedural requirements for certain preemption actions by the agency.

The Office of the Comptroller of the Currency (OCC) today issued an interpretation of 12 U.S.C. 25b, which codifies preemption standards and establishes procedural requirements for certain preemption actions by the agency.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-176.html

Agencies Propose Requirement for Computer Security Incident Notification

Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident. In particular, alerts would be requir…

Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident. In particular, alerts would be required for incidents that could result in a banking organization's inability to deliver services to a material portion of its customer base, jeopardize the viability of key operations of a banking organization, or impact the stability of the financial sector.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-175.html

Consumer Financial Protection Bureau Settles with Mortgage Servicer for Illegal Practices that Impeded Borrowers’ Attempts to Avoid Foreclosure

On December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc., as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Prote…

On December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc., as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Protection Act of 2010 and Regulation X.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-with-mortgage-servicer-for-illegal-practices-that-impeded-borrowers-attempts-to-avoid-foreclosure/

Consumer Financial Protection Bureau Issues Final Rule on Consumer Disclosures Related to Debt Collection

On December 18, 2020, the Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers.

On December 18, 2020, the Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-issues-final-rule-on-consumer-disclosures-related-to-debt-collection/

OCC Proposes Rule Regarding Exemptions to Suspicious Activity Report Requirements

The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking to modify the requirements for national banks and federal savings associations to file suspicious activity reports (SARs).

The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking to modify the requirements for national banks and federal savings associations to file suspicious activity reports (SARs).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-174.html

Federal Reserve announces members of its Community Depository Institutions Advisory Council for 2021

Federal Reserve announces members of its Community Depository Institutions Advisory Council for 2021

Federal Reserve announces members of its Community Depository Institutions Advisory Council for 2021

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20201217b.htm