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Exception Tracking Spreadsheet (TicklerTrax™)
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12/19/2016

CRA software v.2017 for CY 2016 data available

The FFIEC has posted Version 2017 for CY 2016 data due March 1, 2018. Each software version is year-specific (i.e., 2016 reporting requires 2016 DES and not 2017 DES).

12/19/2016

Household ratios released

The Federal Reserve Board has released the household debt service and financial obligations ratios for third quarter 2016.

12/19/2016

November residential construction activity mixed

The HUD and the Census Bureau have jointly announced the new residential construction statistics for November 2016:

  • Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000, 4.7 percent below the revised October rate and 6.6 percent below the November 2015 estimate. Single-family authorizations in November were at a rate of 778,000, 0.5 percent above the revised October figure. Authorizations of units in buildings with five units or more were at a rate of 384,000 in November.
  • Privately owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, 18.7 percent below the revised October estimate, but 6.9 percent below the November 2015 rate. Single-family housing starts in November were at a rate of 828,000; 4.1 percent below the revised October figure. The November rate for units in buildings with five units or more was 259,000.
  • Privately owned housing completions in November were at a seasonally adjusted annual rate of 1,216,000, 15.4 percent above the revised October estimate and 25.0 percent above the November 2015 rate. Single-family housing completions in November were at a rate of 774,000; 3.3 percent above the revised October rate The November rate for units in buildings with five units or more was 432,000.

12/19/2016

FHFA scorecards for Fannie and Freddie

The FHFA has released the 2017 Scorecard outlining specific conservatorship priorities for Fannie Mae, Freddie Mac, and their joint venture, Common Securitization Solutions, LLC. The 2017 Scorecard furthers the goals outlined in FHFA’s Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, published in May 2014.

12/16/2016

CFPB hosts consumer financial markets research conference

Director Cordray presented prepared remarks yesterday to the participants at the CFPB Research Conference. The Director observed, “in the last two generations, the markets for consumer credit and household finance have expanded and become much more complex. Raw numbers tell the story. The mortgage market today stands at just over $10 trillion. Student loan debt has risen rapidly in recent years to over $1.3 trillion. Auto loan debt exceeds $1.1 trillion. And credit card debt now totals around $700 billion. Growing along with this debt has been the availability, variety, and complexity of consumer financial products and services “ He also noted, “We are also the first federal agency with jurisdiction over both banks and the nonbank financial companies that compete against them in markets like mortgage origination, mortgage servicing, auto finance, consumer installment lending, and the like. Just as an umpire must be authorized to assess the entire field of play, this authority enables us to level the expectations and compliance standards of these two types of financial services providers.”

Cordray also announced the unveiling of a new Consumer Credit Trends web tool, which offers a fresh and timely perspective on the performance of consumer financial markets both today and over time. The beta version of the Consumer Credit Trends tool tracks originations for mortgages, credit cards, auto loans, and student loans.

12/16/2016

NCUA December Board Action Bulletin

The NCUA Board has announced it unanimously approved three items at its December 15, 2016, meeting:

  • A final rule providing regulatory relief to federal credit unions by eliminating the full occupancy requirement in the current occupancy rule;
  • An interim final rule amending the agency’s Freedom of Information Act (FOIA) regulation to provide greater agency transparency and to comply with changes in federal law; and
  • A request from the Texas Credit Union Department to revise its member business lending rule to provide parity with NCUA’s rule.

12/16/2016

OCC updates regs to reduce regulatory burden

The OCC has announced the release of a final rule to remove or amend outdated or unnecessary provisions of certain rules to reduce the regulatory burden on national banks and federal savings associations. The rule:

  • removes notice and approval requirements for certain changes in permanent capital involving national banks;
  • clarifies national bank director oath requirements;
  • removes certain financial disclosure requirements for national banks;
  • simplifies certain licensing rules for business combinations involving federal mutual savings associations;
  • removes unnecessary burden with respect to federal savings associations’ fidelity bond activities;
  • removes certain unnecessary regulatory reporting, accounting, and management policy requirements for federal savings associations;
  • removes unnecessary requirements in the electronic activities rule for federal savings associations;
  • revises certain fiduciary activity requirements for national banks and federal savings associations, including increasing the asset size limit for mini-funds;
  • integrates and updates OCC rules for national banks and federal savings associations relating to municipal securities dealers, Securities Exchange Act disclosures, securities offering disclosures, and insider and affiliate transactions;
  • updates recordkeeping and confirmation requirements for national banks’ and federal savings associations’ securities transactions; and
  • permits the electronic submission of filings required under the Securities Act of 1933 and the Securities Exchange Act of 1934.

12/16/2016

Discount rate increased

The Federal Reserve Board has announced the approval of action taken by the Board of Directors of the Federal Reserve Bank of Minneapolis, increasing the discount rate (the primary credit rate) at the Bank from 1 percent to 1-1/4 percent, effective immediately.

12/15/2016

CFPB report on college-sponsored account fees

The CFPB has released its 2016 Student Banking Report, which raises new concerns about costly fees and risky features that can be attached to certain college-sponsored accounts. The Bureau’s analysis of roughly 500 marketing deals between schools and large banks found that many deals allow for risky features that can lead students to rack up hundreds of dollars in fees per year. The report also examines trends in the school-sponsored credit card market. The CFPB also issued a bulletin reminding colleges and universities they are required to publicly disclose marketing agreements with credit card companies.

12/15/2016

NCUA to host loan growth webinar

The NCUA will host a free 90-minute webinar, “Growing Loans by Partnering with the USDA,” on January 11, 2017, beginning at 2 p.m. ET. The webinar will include a discussion of eligibility requirements for USDA programs and benefits to credit unions.

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