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Exception Tracking Spreadsheet (TicklerTrax™)
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04/06/2017

FOMC minutes released

The Federal Reserve Board has released the minutes of the March 14-15, 2017 meeting of the Federal Open Market Committee (FOMC). The statement from, and the projections materials for, the meeting were also released.

04/06/2017

Curry and Gruenberg on support for minority institutions

In remarks at the 2017 Interagency Minority Depository Institutions and Community Development Financial Institutions Conference, Comptroller Curry and Chairman Gruenberg each voiced support for minority depository institutions and community development financial institutions. Curry stated, "The U.S. banking system is composed of banks of different sizes and approaches, with owners and management of many different backgrounds. This diversity is critical in the ability of the banking sector to adapt to the needs of a diverse nation. A one-size-fits-all approach will not produce the kinds of innovation and responsiveness to customer needs that are necessary for our efforts to be successful." Gruenberg noted, "Minority banks have long played a vital role in their communities, and have gained unique expertise in serving populations that often do not have adequate access to banking services. Today's minority banks are a diverse group of institutions, owned or managed by individuals representing a range of minority communities, including African-American, Hispanic, Asian-American, Native American and Alaskan Native."

04/06/2017

CRA ratings issued by FDIC

The FDIC has released the April 2017 list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). Of the 47 banks listed, three received a rating of Outstanding, 43 received a Satisfactory rating, and one bank was rated Substantial Non-compliance.

04/05/2017

OCC CRA ratings released

A list of the ratings received by 31 national banks, federal savings associations, and insured federal branches of foreign banks recently evaluated for CRA compliance has been released by the OCC. Three institutions were rated outstanding and 28 were rated satisfactory.

04/05/2017

OCC workshops scheduled in Des Moines

The OCC will host two workshops at the Holiday Inn Des Moines Downtown-Mercy Area, Des Moines, Iowa, May 9-10, for directors of national community banks and federal savings associations supervised by the OCC. The Risk Governance workshop on May 9 combines lectures, discussion, and exercises to provide practical information for directors to effectively measure and manage risks. The workshop also focuses on the OCC's approach to risk-based supervision and major risks in the financial industry. The Credit Risk workshop on May 10 focuses on credit risk within the loan portfolio, such as identifying trends and recognizing problems. The workshop also covers the roles of the board and management, how to stay informed of changes in credit risk, and how to effect change.

04/05/2017

MLA website maintenance scheduled

The Department of Defense's Military Lending Act (MLA) website has a "Planned Maintenance" notice posted announcing that "MLA will be unavailable from 9:00 a.m. Pacific time on Saturday, April 8 to 12:00 a.m. Pacific time on Sunday, April 9."

04/04/2017

Bureau publishes Reg B proposal

The CFPB's previously announced proposal to amend Regulation B was published in this morning's Federal Register, with a 30-day comment period ending May 4, 2017.

04/04/2017

HUD publishes Mortgagee Review Board actions

The Department of Housing and Urban Development has published in today's Federal Register a report of administrative actions taken by its Mortgagee Review Board against HUD-approved mortgagees for the fiscal year ending September 30, 2016.

04/03/2017

FEMA to suspend communities from Flood Program

The Federal Emergency Management Agency has published a final rule [82 FR 16122] in today's Federal Register identifying communities in Iowa, Oregon, Tennessee and Texas where the sale of flood insurance will be suspended on April 5, 2017, for noncompliance with the floodplain management requirements of the National Flood Insurance Program. The identified communities are:

  • Iowa: Portions of Adair, Adams and Guthrie Counties
  • Oregon: Portions of Jackson County
  • Tennessee: Portions of Davidson County
  • Texas: Portions of Willacy County

04/03/2017

FDIC releases February enforcement actions

The FDIC has released a list of orders of administrative enforcement actions taken against banks and individuals in February. The list includes a total of 14 orders and one notice. The administrative enforcement actions in those orders consisted of one consent order; five removal and prohibition orders; one Section 19 order; five civil money penalties; one prompt corrective action directive; and one notice.

Three institution-affiliated individuals of Banamex USA, Century City, California, were issued civil money penalty orders totaling $190,000 and two of those individuals were also issued prohibition orders.

Civil money penalties were imposed on Heritage Bank, Erlanger, KY ($8,500); Park Bank, Holmen, WI ($6,300); and United Bank, Osseo, WI ($3,600) for violations of the Flood Disaster Protection Act. The list of specific violations in paragraphs 7 - 42 of the Findings of Fact and Conclusions of Law portion of the Park Bank order are particularly detailed and may be useful for compliance training.

BOL's Andy Zavoina, who watches for trends in Flood Insurance penalties, notes that the FDIC issued the same number of flood CMPs in the three months from December 2016 through February 2017 that it issued in all of 2016, and that the $126,000 in penalties it imposed in those same three months is nearly triple the 2016 total of $45,000.

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