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

04/21/2021

OCC rates six CRA evals Outstanding

The OCC has released a list of 15 OCC-supervised institutions evaluated for compliance with the Community Reinvestment Act whose evaluations became public in March. Of those evaluations, eight are rated satisfactory, six are rated outstanding, and one is rated needs to improve.

We congratulate these banks for having earned "outstanding" ratings:

04/20/2021

Alliance Steel settles potential liability for OFAC violations

OFAC has issued an enforcement release announcing a settlement with Alliance Steel, Inc., a designer and manufacturer of prefabricated steel structures headquartered in Oklahoma City, Oklahoma. Alliance agreed to remit $435,003 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations.

On at least 61 occasions between October 2013 and October 2018, Alliance knowingly imported engineering services from a third-party engineering company located in Tehran, Iran. According to OFAC's action notice, multiple members of Alliance senior management were aware of these transactions and participated in the approval process, which, in each transaction, included reviewing a two-page invoice containing the company’s permanent address in Tehran.

OFAC determined that Alliance's conduct was non-egregious and voluntarily self-disclosed. The settlement amount also reflects Alliance's remedial response and cooperation throughout OFAC's investigation.

04/19/2021

NCUA temporarily modifies CU regs

The National Credit Union Administration (NCUA) Board has published [86 FR 20258] an interim final rule that temporarily modifies certain regulatory requirements to help ensure federally insured credit unions remain operational and able to provide needed financial services during the COVID-19 pandemic.

The rule makes two changes to regulations in 12 CFR part 702. The first amends NCUA regulations to temporarily enable the Board to issue an order applicable to all FICUs to waive the earnings-retention requirement for any FICU that is classified as adequately capitalized. The second modifies these regulations with respect to the specific documentation required for net worth restoration plans (NWRPs) for FICUs that become undercapitalized. These temporary modifications will be in place until March 31, 2022. Comments will be accepted through June 18, 2021.

04/19/2021

HUD finds Dallas Housing Authority in violation

HUD has reported it has issued findings that the Housing Authority of Dallas (DHA), Texas, discriminated against a tenant with a disability by failing to provide a reasonable accommodation and seeking to evict her. Specifically, the DHA failed to transfer a tenant with a mobility disability to a ground-floor unit, forcing her to leave her wheelchair and crawl up or down the stairs in order to access or leave her housing.

The case originally came to HUD’s attention when the tenant filed a complaint alleging that she had been discriminated against on the basis of her disability. HUD’s investigation also revealed that the housing authority unlawfully evicted the tenant in retaliation for her efforts to obtain a reasonable accommodation.

04/16/2021

First action filed under COVID-19 Consumer Protection Act

The Federal Trade Commission has announced it has charged St. Louis-based chiropractor Eric Anthony Nepute and his company Quickwork LLC with violating the COVID-19 Consumer Protection Act and the Federal Trade Commission Act, by deceptively marketing products containing vitamin D and zinc as scientifically proven to treat or prevent COVID-19. This is the first case the FTC has brought under the new law.

In a federal complaint filed by the U.S. Department of Justice on the FTC’s behalf, the Commission is asking the court to exercise a provision of the new law to impose monetary penalties on Nepute and Quickwork, and to grant a preliminary injunction against the defendants. According to the complaint, the defendants marketed the vitamin D and zinc products under the brand name “Wellness Warrior,” and claimed that they were as, or more, effective than vaccines that are currently available. In addition to monetary penalties, the complaint seeks to bar the defendants from making such health claims unless they are true and can be substantiated by competent and reliable scientific evidence. The Commission also seeks to bar the defendants from falsely claiming to have scientific evidence about the effects of vitamin D and zinc on COVID-19.

04/16/2021

OCC enforcement actions announced

The Office of the Comptroller of the Currency has announced new enforcement actions taken in February and March. Among those actions were:

04/16/2021

Treasury escalates Russia-related sanctions

The U. S. Department of the Treasury issued three press releases on Thursday announcing escalated sanctions against the Russian government's attempts to influence U.S. elections, the sanctioning of Russian persons in the Crimea region of Ukraine, and actions taken against Russia under a sweeping new sanctions authority.

Treasury's Office of Foreign Assets Control (OFAC) took action against 16 entities and 16 individuals who attempted to influence the 2020 U.S. presidential election at the direction of the leadership of the Russian Government, following the Intelligence Community’s “Assessment of Foreign Threats to the 2020 U.S. Federal Elections.” The assessment addresses the intentions and efforts of key foreign actors, including Russia, to influence or interfere with the U.S. elections and undermine public confidence in the election process.

OFAC also designated five individuals and three entities related to Russia’s occupation of the Crimea region of Ukraine and its severe human rights abuses against the local population.

Under the authority of a new Executive Order targeting aggressive and harmful activities by the Government of the Russian Federation, OFAC issued a directive that generally prohibits U.S. financial institutions from participating in the primary market for ruble or non-ruble denominated bonds issued after June 14, 2021 by the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation, and further prohibits U.S. financial institutions from lending ruble or non-ruble denominated funds to these three entities. This directive expands upon existing prohibitions on certain dealings in Russian sovereign debt that have been in place since August 2019.

OFAC also designated ERA Technopolis; Pasit, AO (Pasit); Federal State Autonomous Scientific Establishment Scientific Research Institute Specialized Security Computing Devices and Automation (SVA); Neobit, OOO (Neobit); Advanced System Technology, AO (AST); and Pozitiv Teknolodzhiz, AO (Positive Technologies), all of which are companies operating in the technology sector of the Russian Federation economy that support Russian Intelligence Services.

Additional information and identification of the persons designated under OFAC's actions can be found in BankersOnline's OFAC Update.

04/14/2021

FEMA to suspend 7 California communities next week

The Federal Emergency Management Agency has published a Federal Register notice [86 FR 19580, 4/14/2021] that the agency has scheduled seven California communities for suspension from the National Flood Insurance Program for noncompliance with the floodplain management requirements of the program.

The affected communities are the cities of Carson, Culver City, Los Angeles, Manhattan Beach, Palos Verdes Estates, Rancho Palos Verdes, and Santa Monica, all in Los Angeles County.

The suspensions are scheduled for April 21, 2021. However, if FEMA receives documentation that a listed community has adopted the required floodplain management measures prior to April 21, the community will not be suspended.

04/13/2021

Funding for Brooklyn housing development halted

The Department of Housing and Urban Development has announced that it has begun procedures to suspend federal affordable housing funds to Carbrook Associates, LP (Carbrook), after a HUD investigation revealed that Carbrook violated federal anti-discrimination laws in the operation of 81 units of multifamily housing in Brooklyn, New York.

04/12/2021

FDIC request for input on revision of official sign and ad requirements

The FDIC is renewing its February 2020 request for input regarding potential modernization of the official FDIC sign and advertising rules (12 C.F.R. Part 328) to reflect changes in deposit-taking via physical branch, digital, and mobile banking channels. The FDIC last significantly updated the rules in 2006. Last year's request for input was postponed in April 2020 due to shifted priorities during the COVID-19 pandemic.

The FDIC encourages comments from all interested parties. The comment period closes on May 24th.

  • FIL-26-2021
  • Pages

    Training View All

    Penalties View All

    Search Top Stories