Compliance Action, Volume 25, Number 3

CRA
OCC CRA Notice and Disclosure Changes

By Nancy Castiglione, CRCM

Portions of the newly revised CRA regulation that impact the CRA notice and disclosure requirements go into effective October 1.

Flood
Proposed Flood Insurance Q&As

By Nancy Castiglione, CRCM

While there have been no legislative changes to the National Flood Insurance Act for some time, the federal agencies are soliciting comments on proposed new Interagency Questions and Answers Regarding Flood Insurance.

Action Training
Right of Rescission Training - with a COVID Twist

By Nancy Castiglione, CRCM

In light of the recent CFPB Interpretive Rule on Waivers due to the COVID-19 Pandemic, now is a good time for refresher training on the coverage and notice requirements of Regulation Z that require creditors to give consumers the right to rescind.

FinCEN
FinCEN Adds Guidance for HEMP Banking

By Nancy Castiglione, CRCM

FinCEN has issued additional guidance for how financial institutions can conduct due diligence on hemp-related businesses.

Compliance Notes

• Distressed and Underserved Geographies (and Underserved Counties and Areas)
• FinCEN Advisory on FATF Jurisdictions with Strategic Money Laundering Concerns
• CFPB Advisory Opinions Program
• Fed Extends Exemption Under Reg O for PPP Loans to Insiders
• FEMA Announces Amendments to Insurance Rules

Compliance Calendar

In the Editor's Opinion
Watch What You Say

By Nancy Castiglione, CRCM

A University of Delaware professor recently conducted research that concluded a person’s word choice in a loan application is a strong predictor of future financial behavior.

Compliance Online
Do Not Call Registry Verification