Compliance Action, Volume 26, Number 8
Happy New Year from all of us at Compliance Action! Thank you for your support in 2021 and your continued support in 2022!
LIBOR Transition Amendments (5 Action Steps)
The CFPB's final rule amending Regulation Z impacting consumer loan products and agreements tied to LIBOR goes into effect April 1, 2022, for the most part.
The agencies have issued their Computer-Security Incident Notification Rule for supervised institutions and their service providers that mandates prompt, timely response for computer-security incidents that rise to the level of notification worthiness.
Thresholds and Exemption Levels (Updated)
When it comes to compliance, the only constant is change. Since publishing the Thresholds and Exemption Levels chart in the last issue, the CFPB has added some more updates that you will want to include in your training and procedures for 2022.
The FFIEC has released new and updated sections of the FFIEC BSA/AML Examination Manual that stress the importance of a risk-based approach.
- OCC Issues Final CRA Regulation
- CRA Asset Threshold Changes for 2022
- CFPB Updates Reasonable FCRA Charge for Consumer Reporting Agencies
- EFT/Regulation E Annual Burden Estimate by CFPB
- NCUA Extends COVID Relief for Acquired Real Property
The FTC has updated its Standards for Safeguarding Customer Information Rule that has significantly expanded the scope and depth of the original 2002 rule – and goes into effect in less than two weeks.
CSBS Cannabis Job Aid
- Nancy Castiglione, CRCM
- Editor Emeritus:
- Lucy H. Griffin, Esq.
- Board of Advisors:
- John S. Byrne, Esq.
Cliff E. Cook
Julie A. Gliha, MBA
Carl G. Pry
Robert G. Rowe, III, Esq.