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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.

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.

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

The NCUA has announced the issuance of three prohibition orders and five notices of prohibition in November 2017. Eight individuals who were former employees and/or officers of various credit unions are prohibited from participating in the affairs of any federally insured financial institution.

OCC Bulletin 2017-59, issued yesterday. announced a revision of the “Capital and Dividends” booklet of the Comptroller’s Licensing Manual. The revised booklet incorporates updated capital and dividends procedures and requirements following the integration of the functions of the OTS into the OCC in 2011 and the issuance of revised regulations.

The FDIC announced yesterday it has issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first and second quarters of 2018.

OFAC has announced it has designated Colombian national Tito Aldemar Ruano Yandun (Ruano Yandun) and the Ruano Yandun Drug Trafficking Organization as Specially Designated Narcotics Traffickers (SDNTs) pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) for playing a significant role in international narcotics trafficking. OFAC also designated Colombian national Onofre Junior Aguiño Arboleda for acting for or on behalf of Ruano Yandun. As a result of yesterday’s action, all assets of those designated that are under U.S. jurisdiction are frozen, and U.S. persons are generally prohibited from engaging in transactions with them. For identification information on those designated, see our OFAC Update.

Penalties for violations of the Kingpin Act range from civil penalties of up to $1,437,153 per violation to more severe criminal penalties. Criminal penalties for corporate officers may include up to 30 years in prison and fines up to $5 million. Criminal fines for corporations may reach $10 million. Other individuals could face up to 10 years in prison and fines pursuant to Title 18 of the United States Code for criminal violations of the Kingpin Act.

The OCC has released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2018. The schedule is sorted by state.

OFAC announced yesterday it has issued a Finding of Violation to Dominica Maritime Registry, Inc. (DMRI), headquartered in Fairhaven, Massachusetts, for a violation of the Iranian Transactions and Sanctions Regulations, by dealing in the property or interests in property of the National Iranian Tanker Company, an entity identified by OFAC as meeting the definition of the Government of Iran and whose property and interests in property are blocked. OFAC also issued updated FAQs on new Ukraine-/Russia-related General License 1B.

The OCC has published [82 FR 56630] a final rule that adds a new part to its rules to enhance the resilience and the safety and soundness of federally chartered and licensed financial institutions by addressing concerns relating to the exercise of default rights of certain financial contracts that could interfere with the orderly resolution of certain systemically important financial firms. In addition, this final rule makes conforming amendments to the Capital Adequacy Standards and the Liquidity Risk Measurement Standards in its regulations. The requirements of this final rule are substantively identical to those adopted in the final rules issued by the Federal Reserve and the FDIC. Banks with assets of $700 billion or less are generally not subject to the rule, which will become effective January 1, 2018.