Skip to content

Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

Click Now!


Top Story Compliance Related

03/07/2024

Foreign-based person must comply with U.S. sanctions and export controls

Yesterday, U.S. Department of Justice, the U.S. Department of Commerce, and the U.S. Department of the Treasury’s Office of Foreign Assets Control, issued a Tri-Seal Compliance Note: “Obligations of foreign-based persons to comply with U.S. sanctions and export control laws.”

03/07/2024

U.S. targets companies and vessels aiding Qods Force and Houthi shipments

The Treasury Department has reported that OFAC has taken additional action to target shipments of Iranian commodities undertaken by the network of Iran-based, Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)-backed Houthi financial facilitator Sa’id al-Jamal. Yesterday’s action targets two Hong Kong- and Marshall Islands-based ship owners and two vessels for their role in shipping commodities on behalf of al-Jamal, and follows a February 27 action targeting a related vessel, the ARTURA.

For identification information on the companies and vessels, see BankersOnline's March 6, 2024, OFAC Update.

03/06/2024

Reserve Banks released 15 CRA evaluations in February

Our monthly check of the Federal Reserve Board's archive of CRA evaluation ratings reveals that the Reserve Banks made public 15 evaluations of member banks in February 2024. Thirteen of those evaluations were rated "Satisfactory." We congratulate Charles Schwab Bank, SSB, and Charles Schwab Premier Bank, SSB, both of Westlake, Texas, for receiving ratings of "Outstanding."

03/06/2024

Another FDIC update to RMS Manual

The FDIC has announced another update of its Risk Management Manual of Examination Policies (RMS Manual). This update affects Section 15.1 (Formal Administrative Actions).

03/06/2024

U.S. targets Intellexa Consortium and others

The Department of the Treasury has reported that OFAC has designated two individuals and five entities associated with the Intellexa Consortium for their role in developing, operating, and distributing commercial spyware technology used to target Americans, including U.S. government officials, journalists, and policy experts.

For the names and identification information of the designated parties, see this BankersOnline OFAC Update.

03/05/2024

Court blocks FinCEN's CTA (BOI reporting) rule for specific plaintiffs

FinCEN reported yesterday that on Friday, in the case of National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), a federal district court in the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment, concluding that the Corporate Transparency Act exceeds the Constitution’s limits on Congress’s power and enjoining the Department of the Treasury and FinCEN from enforcing the Corporate Transparency Act against the plaintiffs.

FinCEN will comply with the court’s order for as long as it remains in effect. As a result, the government is not currently enforcing the Corporate Transparency Act against the plaintiffs in that action: Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024). Those individuals and entities are not required to report beneficial ownership information to FinCEN at this time.

Update: On March 11, 2024, the Defendants (Yellen, et al) filed a Notice of Appeal of the Court's Final Judgment to the U.S. Court of Appeals for the Eleventh Circuit.

03/05/2024

FDIC issues list of recently released CRA evaluation ratings

The FDIC has released a list of 56 recently released CRA evaluation ratings of state non-member FDIC-insured financial institutions. Three banks (located in Camden, SC; Doylestown, PA; and Sewell, NJ) were assigned "Needs to Improve" ratings. Forty-six received "Satisfactory" ratings. We congratulation seven institutions whose evaluations were rated "Outstanding":

03/05/2024

FDIC updates RMS Manual

The FDIC has has updated its Risk Management Manual of Examination Policies (RMS Manual). This month's update affects Section 3.3 (Securities).

03/05/2024

U.S. sanctions Zimbabwe president and key actors

Yesterday, the Department of the Treasury announced that OFAC has designated 11 individuals, including Zimbabwe’s President Emmerson Mnangagwa, and three entities for their involvement in corruption or serious human rights abuse pursuant to E.O. 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act.

Concurrently, President Biden signed an Executive Order terminating the national emergency with respect to Zimbabwe and revoking the Executive Orders that have authorized Zimbabwe-specific sanctions. As a result, the economic sanctions administered by OFAC pursuant to the Zimbabwe sanctions program are no longer in effect.

The president’s Executive Order of March 4, 2024, “Termination of Emergency With Respect to the Situation in Zimbabwe,” terminated the national emergency declared in E.O. 13288 and built upon in E.O. 13391 and E.O. 13469. As a result:

  • All persons blocked solely pursuant to Executive Order 13288, 13391, or 13469 (the authorities of the Zimbabwe Sanctions Program) are being removed from OFAC’s Specially Designated Nationals and Blocked Persons (SDN) List;
  • All property and interests in property blocked solely pursuant to the Zimbabwe Sanctions Program is now unblocked; and
  • OFAC will remove the Zimbabwe Sanctions Regulations from the Code of Federal Regulations.

For details on the new, removed, and updated SDN listings and a link to the Executive Order, see BankersOnline's March 4, 2024, OFAC Update.

03/04/2024

HUD charges Georgia landlords with housing discrimination

The U.S. Department of Housing and Urban Development has announced it is charging PadSplit, Inc., a property management company, Kevin Lee Forrestal and Lydia Forrestal, the property owners, in Decatur, Georgia, with discrimination against a tenant because of her disability. HUD’s Charge of Discrimination alleges that respondents failed to grant a reasonable accommodation when a hearing-impaired complainant requested to have a service animal to assist with her disability.

HUD’s Charge of Discrimination alleges that the property’s management company and its employees, and the condominium unit’s owners, prohibited a hearing-impaired resident from using a service animal in their unit, and refused to install a visual doorbell and smoke detector, preventing her full use of her unit. Ultimately, their actions resulted in the resident’s decision to move out of the unit.

Pages

Training View All

Penalties View All

Search Top Stories