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The FDIC has released a list of 74 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 August 2017. The list includes eight banks (one each in Iowa, Minnesota, Massachusetts, Rhode Island, California and Nevada, and two in New York) that received "outstanding" ratings, and one Texas bank that received a "needs to improve" rating. The other 65 banks received "satisfactory" ratings.

Registration for the 2018 NMLS Annual Conference and Training, February 6–9 in New Orleans, is open. The NMLS has set up a conference website with a schedule at-a-glance, venue information and fee schedule.

The CFBB has announced that approximately 14,000 African-American and Hispanic borrowers who were unlawfully charged higher interest or higher broker fees on mortgage loans with Provident Funding Associates were mailed checks compensating them for their harm. The total of those payments is about $9 million. In May 2015, the CFPB and the Department of Justice filed a complaint alleging that Provident Provident charged approximately 14,000 African-American and Hispanic borrowers more on mortgage loans than similarly situated non-Hispanic white borrowers between 2006 and 2011.

In its announcement, the Bureau warned about scams that could develop around the settlement payments.

During his remarks delivered yesterday at the National Association of Affordable Home Lenders Annual Conference in Washington, Acting Comptroller of the Currency Noreika described guidance finalized by the OCC in August that gives national banks and federal savings associations more flexibility to offer rehabilitation financing in communities with depressed home values.

The Federal Reserve Board has issued a consent enforcement order to an Indiana bank, directing that the bank pay the National Flood Insurance Program a civil money penalty of $23,000. See our penalty page for additional information.

The Department of the Treasury announced yesterday afternoon that FinCEN has issued a final rule under Section 311 of the USA PATRIOT Act that severs Bank of Dandong, a Chinese bank that acts as a conduit for illicit North Korean financial activity, from the U.S. financial system. FinCEN also issued an advisory to further alert financial institutions to schemes commonly used by North Korea to evade U.S. and United Nations (UN) sanctions, launder funds, and finance the North Korean regime’s weapons programs. The rule severing Bank of Dandong's access to the U.S. financial system will be effective 30 days after publication in the Federal Register.

UPDATE: FinCEN scheduled the rule for publication on November 8, 2017, which will make the rule's effective date Friday, December 8.

Teh Consumer Financial Protection Bureau has released a report on auto loans that found a sharp increase in riskier longer-tem loans. The Bureau's press release said that 42 percent of auto loans made in the past year were for terms of six years or longer up from 26 percent in 2009, while five-year loans declined over the same period.

The CRA ratings received by eighteen national banks and federal savings associations in October have been released by the OCC. There were two outstanding and 16 satisfactory ratings. Both outstanding ratings were earned by small banks, one in Kansas and the other in Wyoming.

The Federal Reserve Board has released the statement issued by the Federal Open Market Committee following its November 1 meeting.

The annual NMLS renewal period for 2018 began on November 1, 2017, and ends Sunday, December 31, 2017. Individuals and businesses are encouraged to renew their licenses or registrations early, so there is no impact to their business in 2018. More information can be found on the NMLS Annual Renewal Information webpage.