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Exception Tracking Spreadsheet (TicklerTrax™)
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Top Story Compliance Related

12/07/2017

FEMA suspending communities in seven states

The Federal Emergency Management Agency of the Department of Homeland Security has published at 82 FR 57680 in today's Federal Register a final rule identifying communities in New Jersey, Georgia, Kentucky, Louisiana, Mississippi, South Carolina and Texas where the sale of flood insurance has been authorized under the National Flood Insurance Program (NFIP) that are scheduled for suspension on December 21, 2017, because of noncompliance with the floodplain management requirements of the program.

12/07/2017

CFPB updates TRID forms guide

The CFPB has updated the TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure forms that is available on the Bureau's TILA-RESPA Integrated Disclosure rule implementation page. The updated guide incorporates amendments and clarifications in the Bureau's July 7, 2017, final rule amending the TRID requirements.

12/07/2017

FTC sending refund checks

The Federal Trade Commission is mailing 442,898 refund checks totaling more than $8 million to people who bought weight-loss supplements that were deceptively marketed using illegal spam email, baseless weight-loss claims, and fake celebrity endorsements. Consumers who bought products marketed by Sale Slash, LLC and related defendants will receive checks averaging $18.24.

12/06/2017

CRA ratings released

The OCC and the FDIC have released lists of recent CRA evaluations. The OCC listed 29 evaluations of national banks and federal savings associations, including five rated "outstanding," 23 "satisfactory" and one "needs to improve."

The FDIC identified 63 state nonmember banks recently evaluated, including two rated "outstanding," 59 "satisfactory," and two "needs to improve."

12/06/2017

ISIS recruiter designated by OFAC

OFAC has announced the designation of Abdullah Ibrahim al-Faisal (Faisal), a Jamaica-based Islamic cleric, as a Specially Designated Global Terrorist who provided recruitment services to the Islamic State of Iraq and Syria (ISIS). Faisal assisted in, sponsored, or provided financial, material, or technological support for, or financial or other services to or in support of, ISIS. As a result of yesterday's designation, all property and interests in property of Faisal subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with him. See our OFAC Update for identification information for Faisal.

12/05/2017

FTC targets credit card scam

The Federal Trade Commission has announced it has filed a complaint in the Federal District Court for the Middle District of Florida seeking to halt an alleged credit card interest-rate reduction scam that deceives consumers struggling with credit card debt. The complaint alleges that the individuals charged in this case, who previously worked for a nearly identical telemarketing operation shut down by court order in 2016 at the request of the FTC, set up a new operation selling similar bogus credit-card interest-rate-reduction services within weeks of the court order shuttering the earlier operation.

12/05/2017

FinCEN Exchange launched

FinCEN has announced the launch of its FinCEN Exchange program to enhance information sharing with financial institutions. As part of this program, FinCEN, in close coordination with law enforcement, will convene regular briefings with financial institutions to exchange information on priority illicit finance threats, including targeted information and broader typologies. The program will enable financial institutions to better identify risks and focus on high priority issues, and will help FinCEN and law enforcement receive critical information in support of their efforts to disrupt money laundering and other financial crimes.

12/05/2017

Fall 2017 FDIC Consumer News

The new issue of the FDIC Consumer News offers tips on dealing with debt and information on protections in the Fair Debt Collection Practices Act. There is also an article on recent enhancements to BankFind, the FDIC's online database of individual insured banks, which can help consumers identify unfamiliar bank names and websites.

12/05/2017

Fed Board proposes Reg A amendments

The Federal Reserve Board is requesting public comment on a proposal to amend its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments, including changes to reflect the expiration of the Term Asset Backed Securities Loan Facility (TALF) program. The proposed amendments would revise the provisions regarding the establishment of the primary credit rate at the discount window in a financial emergency, and would delete obsolete provisions relating to the use of credit ratings for collateral for extensions of credit under the former TALF program. Comments will be accepted for 30 days following publication in the Federal Register.

Update: Published at 82 FR 57886 on December 8, 2017. Comments are due by January 8, 2018.

12/04/2017

2016 Terrorist assets report

The Office of Foreign Assets Control (OFAC) has released its 2016 Terrorist Assets Report.

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