Compliance Action, Volume 28, Number 1

CFPB
Early Planning for the Small Business Lending Rule(including 5 Action Steps)

By Nancy Castiglione, CRCM

The dates for implementation of the final Small Business Lending Rule may be far off, but planning ahead would be prudent to avoid getting left behind and face last minute scrambling before deadlines loom.

Training Page
Privacy

By Nancy Castiglione, CRCM

Privacy remains a growing concern for consumers. Whether or not your bank has made changes to your privacy policies in the past year, training should be revisited periodically with all employees.

Reg Z
LIBOR and Reg Z

By Nancy Castiglione, CRCM

The CFPB has issued amendments to Regulation Z relating to facilitating the LIBOR transition consistent with the LIBOR Act.

Compliance Calendar

Editorial
Small Business Lending Rule Implications

By Nancy Castiglione, CRCM

Making sure that everyone, especially senior management, fullys comprehends the purpose, background, and implications of the Small Business Lending rule is a critical part of the implementation process.

Compliance Notes

• CFPB Issues Policy Guidance on Enforcement of the New Small Business Lending Rule
• CFPB Circular on Reopening Deposit Accounts that Consumers Previously Close
• OCC Updates Enforcement Actions Policy Manual

REGULATIONS
Section 109 Host State Loan-to-Deposit Ratios Updated

By Nancy Castiglione, CRCM

The Agencies have updated the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Section 109) Host State Loan-to-Deposit ratios which prohibits banks from establishing or acquiring a branch outside its home state primarily for the purpose of deposit production.

Compliance Online
New OFAC Page