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Exception Tracking Spreadsheet (TicklerTrax™)
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Top Story Compliance Related

08/01/2016

FDIC June enforcement actions

The FDIC has released a list of 20 orders of administrative enforcement actions taken against banks and individuals in June. Included were one consent order, seven removal and prohibition orders, seven Section 19 orders, two terminations of insurance, three terminations of consent orders and cease and desist orders, and one adjudicated decision. One of the removal and prohibition orders included a $195,000 civil money penalty assessed on a former institution-affiliated party of a New York bank for engaging in unauthorized cash and ATM withdrawals from four bank customer accounts and forging customers’ signatures on checks to pay his own debts.

08/01/2016

New Comptroller’s Handbook booklet issued

The Office of the Comptroller of the Currency's Bulletin 2016-25 has announced the issuance of a “Corporate and Risk Governance” booklet of the Comptroller’s Handbook. The new booklet updates, consolidates and rescinds a number of older booklets in the Handbook.

08/01/2016

Citizens Bank pays $115,000 for loan denial

HUD has reached a Conciliation Agreement with Philadelphia-based Citizens Bank of Pennsylvania and Providence, Rhode Island-based Citizens Bank, collectively known as Citizens Bank, settling allegations that the bank violated the Fair Housing Act when it told a female applicant that she would need to return to work before her application for a home equity line of credit could be approved. The woman filed a complaint alleging that Citizens Bank discriminated against her based on her familial status when it delayed the processing of her loan application because she was on maternity leave, despite the fact that she was receiving her full pay. Under the terms of the agreement, Citizens Bank will pay the woman $40,000, provide fair housing training to its staff, and adopt a parental leave policy making it clear that all loan products are to be made available, regardless of an applicant's parental status. Citizens Bank will also make a $75,000 donation to a HUD-approved fair housing or advocacy organization.

08/01/2016

Bureau releases proposal to amend TRID Rule

CFPB Director Richard Cordray hinted months ago that the Bureau was working on amendments to clarify and refine the "Know Before You Owe" TILA/RESPA Integrated Disclosure (TRID) Rule, and that it was likely to be ready in July 2016. The proposal was announced Friday, July 29, the last business day of the month. The Bureau reports that the proposed amendments memorialize the Bureau’s informal guidance on various issues and include clarifications and technical amendments. The Bureau is also proposing tolerance provisions for the total of payments, an adjustment to a partial exemption mainly affecting housing finance agencies and nonprofits, extension of coverage of the integrated disclosure requirements to all cooperative units, and guidance on sharing the disclosures with various parties involved in the mortgage origination process. Comments on the proposal are due by October 18, 2016.

Update: The proposed rule was published on August 15, 2016, at 81 FR 54317, in the Federal Register.

07/29/2016

CFPB publishes Reg Z CFR correction

The Consumer Financial Protection Bureau has published [81 FR 49869] in this morning's Federal Register a CFR correction to add Comment 41(e)(5) Consumers in bankruptcy and paragraphs 1, 2 and 3 to Supplement I to Regulation Z. This portion of the Official Interpretations of the regulation was issued earlier (and is included on BankersOnline's Regulation Z § 1026.41 page), but was mistakenly omitted when updating the official Code of Federal Regulations.

07/29/2016

NCUA exam process videos released

The NCUA has announced that credit union board members can learn more about the purpose, process and components of an NCUA examination in a new four-part video released on the National Credit Union Administration’s YouTube channel. The video provides an overview of the NCUA examination process, including the small credit union examination program. Viewers will learn more about:

  • What risk categories NCUA assesses during the examination process,
  • How CAMEL ratings are determined, and
  • How a credit union can prepare for an exam.

07/29/2016

New version of CRA and HMDA software

The FFIEC's CRA/HMDA Software Downloads page has been updated to provide downloads of CRA and HMDA data entry software, version 2016 R-2. This version facilitates data entry for calendar year 2016 data that must be submitted by March 1, 2017.

07/29/2016

Father and son barred from banking

The Federal Reserve Board has permanently barred Thomas H. Huston and T. Mark Huston, former officers of Columbus Junction State Bank, Columbus Junction, Iowa, from the banking industry for engaging in improper financial activity and concealing or attempting to conceal that activity from state and federal bank examiners. Thomas Huston and his son, Mark Huston, reportedly authorized a series of loans to one another which cumulatively exceeded federal and state lending limits to bank officers, and then concealed or attempted to conceal some of those violations from state and federal bank examiners. They also attempted to conceal from examiners the status of certain borrowers' overdue loans, and loans to affiliated borrowers that exceeded legal lending limits.

07/29/2016

HUD settles hearing disabilities discrimination disputes

HUD has announced that the Springfield (MA) Housing Authority has signed agreements settling allegations of housing discrimination based on disability. The allegations involved an 82-year-old deaf housing authority resident who allegedly did not receive the same access to communications as individuals without disabilities, as required by the Fair Housing Act, Americans with Disabilities Act (ADA), and the Rehabilitation Act of 1973. The Springfield Housing Authority allegedly refused to grant a reasonable accommodation that would have provided the long-time female resident with the equipment needed to receive the same level of notification available to hearing tenants and allegedly denied her equal access to services they provide to other residents.

07/29/2016

FBME special measures again delayed

FinCEN has posted a notice that a court has stayed the implementation of the Final Rule imposing the Fifth Special Measure against FBME Bank, Ltd. The Final Rule was to have become effective July 29, 2016, with the addition of Section 1010.658 to FinCEN's regulations at 31 CFR Part 1010. Implementation now awaits further notice from the Court.

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