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

05/18/2016

New Burma general licenses, removals, and designations

OFAC has amended the Burmese Sanctions Regulations and updated the SDN List. The regulatory amendments are intended to support trade with Burma; facilitate the movement of goods within Burma; allow certain transactions related to U.S. individuals residing in Burma; and allow most transactions involving designated financial institutions. New FAQs on the Burma Sanctions program were also released. In addition, OFAC, in consultation with the Department of State, removed seven state-owned enterprises and three state-owned banks from the SDN List, but added six companies owned 50 percent or more by persons on the SDN List. For additional information, see our OFAC Update.

05/17/2016

Montana bank pays $27K for Flood Act violations

The Federal Reserve Board issued an Order for the payment of a Civil Money Penalty of $27,285 by First Community Bank, Glasgow, Montana, on May 11, 2016. The payment was made to the "National Flood Insurance Program," and forwarded via the Board to the Federal Emergency Management Agent (FEMA). Additional information is available in our May 11, 2016, Flood Penalty entry.

05/17/2016

CUs pay late filing penalties

The NCUA has announced that 22 federally insured credit unions have consented to civil monetary penalties for filing late Call Reports in the fourth quarter of 2015. Twenty-eight credit unions consented to penalties in the fourth quarter of 2014. The late filers will pay a total of $13,548 in penalties. Individual penalties range from $157 to $2,580. The median penalty was $356.

05/17/2016

Agencies propose limits on incentive-based compensation

A joint press release from six federal agencies (FDIC, FHFA, FRB, NCUA, OCC, and SEC) invites public comment on a proposed rule that would prohibit incentive-based compensation arrangements that encourage inappropriate risks at covered financial institutions. The deadline for comments on the proposal, which was submitted for publication in the Federal Register, is July 22, 2016. The proposed rules would apply to covered financial institutions with total assets of $1 billion or more. The requirements are tailored based on assets, and covered institutions would be divided into three categories:

  • Level 1: institutions with assets of $250 billion and above;
  • Level 2: institutions with assets of $50 billion to $250 billion; and
  • Level 3: institutions with assets of $1 billion to $50 billion.

Update: The proposed rule was published in the Federal Register at 81 FR 37669 on June 10, 2016.

05/16/2016

Bureau touts consumer information services

The CFPB has posted a reminder to consumers facing questions about money that they can ask questions and get answers by using Ask CFPB.

05/16/2016

Calvery on money laundering through real estate

In a presentation at the ACAMS AML and Financial Crimes Conference in Hollywood, Florida, FinCEN Director Calvery discussed money laundering through real estate. She said, “In the past five years alone, U.S. Attorneys’ Offices in San Antonio, Houston, New York City, Miami, and many other cities have brought major cases forfeiting tens of millions of dollars of real estate purchased with the proceeds of illicit activity.“ She discussed FinCEN's geographic targeting orders (GTOs) requiring identification for high-end cash buyers in Manhattan and Miami, noting that FinCEN has just started to see the first reports coming in under the GTOs. FinCEN is also reviewing SARs filed on this issue, which are helping to provide greater clarity on suspicious activity taking place in this sector of the real estate markets in Miami-Dade and Manhattan.

05/16/2016

OFAC updates Panama-related licenses

OFAC has updated one of its Kingpin Act Panama-related General Licenses and added two more, and updated its related FAQs. See our OFAC Update for details.

05/15/2016

Libyan added to OFAC's SDN List

On May 13, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned Libyan Speaker and President of the House of Representatives Agila Saleh Issa pursuant to Executive Order 13726, which imposes sanctions against individuals or entities that, among other things, threaten the peace, security, or stability of Libya or obstruct or undermine the Libyan Government of National Accord. See BankersOnline's OFAC Update for additional information.

05/13/2016

Bureau/Meals on Wheels collaborate for Older Americans Month

The CFPB has announced a collaboration with Meals on Wheels America to celebrate May as Older Americans Month. During May, Meals on Wheels America and their nationwide network of volunteers will begin distribution of a new CFPB consumer protection placemat to isolated older adults who might also require assistance with daily living or are struggling with cognitive impairments.

05/13/2016

Bureau adds TILA-annotated TRID disclosures

The CFPB has added to its offering of blank model disclosure forms for compliance with the TILA-RESPA Integrated Disclosure (TRID) rule a Loan Estimate and a Closing Disclosure, each annotated with citations to the disclosure provisions in the Truth in Lending Act that are referenced in the TRID final rule. The additions can be found on the implementation webpage for the rule.

Pages

Training View All

Penalties View All

Search Top Stories