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Exception Tracking Spreadsheet (TicklerTrax™)
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06/20/2017

FTC military consumer financial workshop in San Antonio

The Federal Trade Commission has released the agenda and list of confirmed speakers for its upcoming workshop, The "2017 Military Consumer Financial Workshop: Protecting Those Who Protect Our Nation," to be held in San Antonio, Texas on July 19, 2017.

06/20/2017

Severe weather regulatory relief for Arkansas institutions

The FDIC has issued FIL-23-2017 announcing steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe weather from April 26 to May 19, 2017.

06/20/2017

OCC Office of Innovation schedules office hours

The OCC has announced its Office of Innovation will host Office Hours for national banks, federal savings associations, and financial technology companies, July 24–26, at the OCC’s district office in New York City. Office Hours provide an opportunity for meetings with OCC officials to discuss financial technology, new products or services, partnering with a bank or fintech company, or other matters related to financial innovation. OCC staff will provide feedback and respond to questions. Each meeting will be no longer than one hour. Interested parties may request a session through July 5, and are asked to provide information on why they are interested in meeting with the OCC. Specific meeting times and arrangements will be determined after the OCC receives and accepts the request.

06/20/2017

May residential construction activity mixed

HUD and the Bureau of the Census have jointly announced statistics on new residential construction for May 2017:

  • Building permits—Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,168,000, which is 4.9 percent below the revised April rate of 1,228,000, and 0.8 percent below the May 2016 rate of 1,178,000. Single-family authorizations in May were at a rate of 779,000, 1.9 percent below the revised April figure of 794,000. Authorizations of units in buildings with five units or more were at a rate of 358,000..
  • Housing starts—Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,092,000, 5.5 percent below the revised April estimate of 1,156,000, and 2.4 percent below the May 2016 rate of 1,119,000. Single-family housing starts in May were at a rate of 794,000, 3.9 percent below the revised April figure of 826,000. The May rate for units in buildings with five units or more was 284,000.
  • Completions—Privately owned housing completions in May were at a seasonally adjusted annual rate of 1,164,000, which is 5.6 percent above the revised April estimate of 1,102,000, and 14.6 percent above the May 2016 rate of 1,016,000. Single-family housing completions in May were at a rate of 817,000, 4.9 percent above the revised April rate of 779,000. The May rate for units in buildings with five units or more was 335,000.

06/19/2017

New Cuba-related FAQs posted

OFAC has posted new frequently asked questions in connection with last week's White House announcement of changes to U.S. policy with respect to Cuba.

06/19/2017

OCC enforcement actions released

The OCC has released a list of recent enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. Included was one personal cease and desist order with an order for payment of an $8,000 civil money penalty against a former Illinois mortgage loan originator who sent customer information from his former employer to a prospective new employer without permission. There were also two removal/prohibition orders, and a cease and desist order against a Connecticut federal branch of UBS AG, a Swiss bank.

06/19/2017

OFAC sanctions ISIS facilitator and recruiter

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has reported that it took action Friday against Fared Saal (Saal), an Islamic State of Iraq and Syria (ISIS) facilitator, recruiter, and fighter. Saal is being designated as a Specially Designated Global Terrorist (SDGT) pursuant to Executive Order 13224, which targets terrorists and their supporters. As a result of Friday’s action, all property and interests in property of Saal subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with him. For identification information, see our OFAC Update.

06/16/2017

Discount rate increases approved

The Federal Reserve Board has approved actions by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis increasing the discount rate (the primary credit rate) at the Banks from 1½ percent to 1¾ percent, effective immediately.

06/16/2017

FRB May G.17 report released

The FRB has released the May 2017 G.17 Industrial Production and Capacity Utilization data. Industrial production was unchanged in May following a large increase in April and smaller increases in February and March. Manufacturing output declined 0.4 percent in May; the index is little changed, on net, since February. The indexes for mining and utilities posted gains of 1.6 percent and 0.4 percent, respectively, in May. At 105.0 percent of its 2012 average, total industrial production in May was 2.2 percent above its year-earlier level. Capacity utilization for the industrial sector edged down 0.1 percentage point in May to 76.6 percent, a rate that is 3.3 percentage points below its long-run (1972–2016) average.

06/16/2017

Fannie and Freddie exam reports

The Federal Housing Finance Agency (FHFA) has released its 2016 Report to Congress. The statutorily-required report provides information about FHFA's 2016 examinations of Fannie Mae, Freddie Mac, 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks' Office of Finance. The report also describes FHFA's actions as conservator of Fannie Mae and Freddie Mac during the year and it describes the Agency's regulatory guidance, research and publications.

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