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Exception Tracking Spreadsheet (TicklerTrax™)
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Top Story Lending Related

09/08/2017

Comptroller’s Handbook booklets revised

The OCC has Issued Bulletins 2017-35 and 2017-36 to announce the revision of the "Flood Disaster Protection Act" and "Foreword" booklets of the Comptroller's Handbook.

09/07/2017

CFPB announces new tool for people with disabilities

In observance of the 27th anniversary of the Americans with Disabilities Act, the CFPB has announced a new financial empowerment tool for people with disabilities. A companion guide contains information and tips based on insights from people with disabilities and organizations that serve the disability community.

09/07/2017

Credit Union Performance Data released

The NCUA has released Second Quarter 2017 credit union system performance data.

09/07/2017

FFIEC launches new industry outreach website

The FDIC has issued FIL-40-2017 to announce the FFIEC's launch of a new Industry Outreach website for financial institutions, trade associations, third-party providers, and consultants. The website also provides access to upcoming FFIEC-sponsored webinars and includes an archive of past webinars.

09/07/2017

FAQ on new accounting standards

FDIC FIL-41-2017, OCC Bulletin 2017-34, and Federal Reserve SR Letter 17-8, all issued Wednesday, announced that the federal financial institution regulatory agencies have issued Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses to assist institutions and examiners.

09/07/2017

FEMA suspending communities from flood program

In two final rules published in today's Federal Register, the Federal Emergency Management Agency has listed communities scheduled for suspension from the National Flood Insurance Program for noncompliance with the floodplain management requirements of the program.

  • 82 FR 42240—communities in Carroll County, IA, effective 9/15/2017
  • 82 FR 42241—communities in Volusia County, FL; Hawaii County, HI; Henderson County, KY; Kittson County, MN; Chester County, PA; and Jackson County, WI, effective 9/29/2017

09/07/2017

CFPB acts against online lead aggregator

The CFPB announced Wednesday that it had taken action against an online lead aggregator for steering consumers toward lenders who offered illegal or unlicensed loans that were void in the consumer’s state. The CFPB's press release said Zero Parallel, LLC sold consumers’ payday and installment loan applications to lenders it knew were likely to make void loans that the lenders had no legal right to collect. The CFPB also submitted a proposed order in a separate case that would resolve a pending lawsuit against Zero Parallel’s owner, Davit Gasparyan, for engaging in similarly illegal conduct at his prior company, T3Leads. The CFPB ordered Zero Parallel to end its illegal conduct and pay a $100,000 penalty. The proposed order against Gasparyan, said the CFPB, would prohibit him from engaging in the same abusive practice and require him to pay a $250,000 penalty.

09/07/2017

Regulators issue joint statement regarding Hurricane Irma

On Wednesday, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and state bank regulators issued a joint statement that they recognize the serious impact of Hurricane Irma on the customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The agencies encouraged institutions in the affected areas to meet the financial services needs of their communities.

The regulators urged bankers to work constructively with borrowers in communities affected by the hurricane, adding that financial institutions may receive CRA consideration for community development loans, investments, or services that revitalize or stabilize federally designated disaster areas in their assessment areas or in the states or regions that include their assessment areas. They also encouraged bankers to appropriately monitor investments in municipal securities and loans that might be affected by the storm, and make prudent efforts as needed to stabilize such investments.

The statement also related a number of regulatory accommodations and other assistance available to assist banks that are heavily impacted by the storm.

09/06/2017

FDIC posts CRA evaluations

The FDIC has issued its list of 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 June 2017. Of the 67 banks listed, six received an "outstanding" rating, two were rated "needs improvement" and 59 obtained ratings of "satisfactory."

09/06/2017

Mortgage manager banned from banking

The Federal Reserve Board has announced that it has prohibited Daniel X. Brennan, a former mortgage production manager at Regions Bank, Birmingham, Alabama, from participating in the banking industry, after finding that Brennan engaged in unsafe and unsound practices, or breached his fiduciary duty to the bank, by making payments by personal check to a Regions Bank loan processor who processed and approved certain mortgage loans originated by Brennan, in violation of Regions' policies.

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