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The FDIC has issued FIL-20-2017 announcing actions intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Missouri affected by severe weather. Highlights of the announcement include:

• Severe storms, tornadoes, straight-line winds and flooding caused significant property damage in areas of Missouri from April 28 to May 11, 2017.
• A federal disaster for selected areas in Missouri was declared on June 2, 2017. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at http://www.fema.gov.
• The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
• Extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the welfare of the local community and serve the long-term interests of the lending institution.
• Banks may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.
• The FDIC will consider regulatory relief from certain filing and publishing requirements.

The name of one individual has been deleted from OFAC's list of Transnational Criminal Organizations and updated identification information has been added to an unrelated individual Kingpin Act designation. See our OFAC Update Page for the details.

The ratings received by 63 banks recently examined by the FDIC for CRA compliance have been released. Three were rated outstanding and 60 received a satisfactory rating.

The Fderal Emergency Management Agency has published a final rule at 82 FR 25739 in today's Federal Register identifying communities in California, Indiana, Iowa and North Dakota that it will suspend from participation in the National Flood Insurance Program on June 21, 2017, for noncompliance with the floodplain management requirements of the program:

• Cities of Areata and Eureka, and unincorporated areas of Humboldt County, California
• City of Salem and unincorporated areas of Washington County, Indiana
• Cities of Earlham, Patterson, St. Charles, and Winterset, and unincorporated areas of Madison County, Iowa
• Unincorporated areas of Foster County, North Dakota

The CFPB has published a Notice and Request for Comment in today's Federal Register on a proposed web survey of 8,000 individuals as part of the Bureau's research on debt collection disclosures. The survey would explore consumer comprehension and decision making in response to debt collection disclosure forms. Comments will be accepted through August 4, 2017.

The Federal Reserve has issued a Collateral Bulletin to announce new collateral margin requirements for discount window lending and payment system risk purposes, effective July 3, 2017. The value that the Federal Reserve assigns to collateral may increase or decrease when the new margins go into effect. Reserve Banks will make individual contact with institutions that are required to pledge additional collateral in advance of the effective date.

The Federal Housing Finance Agency (FHFA) has released its third report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold and outcomes for borrowers as of December 31, 2016. The sale of NPLs reduces the number of severely delinquent loans in the Enterprises’ portfolios.

FHFA press release

The Federal Trade Commission has provided its 2016 Annual Financial Acts Enforcement Report to the CFPB on enforcement and other activities related to Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and Regulation E (Electronic Fund Transfer Act).

The OCC has released the ratings recently received by 18 national banks and federal savings associations for compliance with the Community Reinvestment Act. Two institutions were rated outstanding and 16 were rated satisfactory.

The Federal Reserve Board has announced that the results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on June 22, and the results from the Comprehensive Capital Analysis and Review (CCAR) will be released on June 28.