Top Story Compliance Related

The Federal Trade Commission has released its annual summary of consumer complaints. Debt collection complaints remained the top category, but imposter scam complaints ranked second, replacing identity theft, which dropped to third.

The FDIC has issued a list of 76 state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in December 2016. Two were rated outstanding, 71 were rated satisfactory, and three received a needs to improve rating.

The NMLS has posted a reminder of the need for any mortgage loan originator who failed to complete the renewal process by December 31, 2016, to reactivate that registration before acting as a mortgage loan originator in 2017.

The Consumer Financial Protection Bureau has released a special edition of Supervisory Highlights -- Credit Reporting, detailing the problems in the credit reporting industry that the Bureau has uncovered and corrected through its oversight work. The Bureau reported that, since launching its supervision of the credit reporting market, it has identified significant issues with the quality of the credit information being provided by furnishers and maintained by credit reporting companies. The report outlines the actions that the CFPB has taken to address these ongoing problems, such as fixing data accuracy at credit reporting companies, repairing the broken dispute process, and cleaning up information being reported.

Bureau Director Richard Cordray spoke about the report and the work the Bureau is doing in the consumer reporting marketplace at the March 2 meeting of the CFPB Consumer Advisory Board in Washington.

The FFIEC has posted FIL-10-2010 and the OCC has released Bulletin 2017-13 announcing that, on March 8, 2017, from 2 - 3 p.m. ET, the federal banking agencies will conduct a webinar for bankers to introduce the new FFIEC 051 call report for eligible small institutions -- generally institutions with domestic offices only and total assets of less than $1 billion. The webinar will cover the content of the call report and discuss how it differs from the existing FFIEC 041 call report. The webinar also will summarize the revisions to the FFIEC 031 and FFIEC 041 call reports. A question-and-answer period will follow the presentation on the reporting changes for March 2017.

The OCC has announced it will host two workshops at the Crowne Plaza Phoenix Airport in Phoenix, Arizona, April 11-12, for directors of national community banks and federal savings associations supervised by the OCC.

• The Credit Risk workshop on April 11 focuses on credit risk within the loan portfolio, such as identifying trends and recognizing problems. The workshop also covers the roles of the board and management, how to stay informed of changes in credit risk, and how to effect change.
• The Operational Risk workshop on April 12 focuses on the key components of operational risk—people, processes and systems. The workshop also covers governance, third-party risk, vendor management, and cybersecurity.

The Federal Reserve Board has announced that it will not object to a resubmitted capital plan from Morgan Stanley, as a result of progress made by the firm in addressing deficiencies identified by the Board in last year's Comprehensive Capital Analysis and Review (CCAR).

The CFPB Blog features an article advising consumers how to deal with bad credit or no credit when they want to buy a home.

The NCUA has announced it will host a webinar, “Pathways to Offering E-Services,” to help credit unions better understand how to put electronic financial services to work for their members. The free 90-minute webinar will be presented on Wednesday, March 22, 2017, beginning at 2 p.m. EDT.

The OCC has announced it will host a workshop at the Pittsburgh Marriott City Center in Pittsburgh, Pennsylvania, April 10–12, for directors of national community banks and federal savings associations supervised by the OCC. The Building Blocks for Directors workshop combines lectures, discussion, and exercises to provide practical information on the roles and responsibilities of board participation for both new and experienced directors. The workshop focuses on directors’ duties and core responsibilities, discusses major laws and regulations, and increases familiarity with the examination process.