| Top News: |
| CFPB Releases Credit Bureau Exam Procedures |
| The Consumer Financial Protection Bureau announced another step in supervising nonbank institutions by releasing procedures it will use in examining credit bureaus and other consumer reporting companies. Read more. |
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| FDIC Panel Meeting on New Unbanked Data |
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The FDIC announced that its Advisory Committee on Economic Inclusion will meet on Wednesday to discuss results of the FDIC's second National Survey of Unbanked and Underbanked Households. Read more.
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| Other News: Click Headline for Story |
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Regulators |
| CFPB Releases Credit Bureau Exam Procedures |
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The Consumer Financial Protection Bureau announced another step in supervising nonbank institutions by releasing procedures it will use in examining credit bureaus and other consumer reporting companies. The CFPB is authorized to supervise consumer financial market participants that have more than $7 million in annual receipts.
The CFPB’s supervisory authority will cover an estimated 30 companies that account for approximately 94 percent of the market’s annual receipts. The supervisory authority takes effect Sept. 30.
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Regulators |
| FDIC Panel Meeting on New Unbanked Data |
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The FDIC announced that its Advisory Committee on Economic Inclusion will meet on Wednesday to discuss results of the FDIC's second National Survey of Unbanked and Underbanked Households. The Census Bureau conducted the survey in June 2011 to update results from a 2009 survey that found that 25.6 percent of all households in the United States were unbanked or underbanked.
The committee also will discuss new initiatives relating to model Safe Accounts, card-based electronic accounts that only allow automated withdrawals. Additionally, the committee's Mobile Financial Services Subcommittee will provide an update on how evolving technologies can be used to enhance underserved consumers' access to mainstream banking institutions.
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Regulators |
| Treasury Announces New TARP Share Sale |
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Treasury announced its plan to sell several preferred stock Capital Purchase Program investments as part of its TARP wind-down. Treasury said it intends to conduct auctions for all of its preferred stock positions in Alpine Banks of Colorado, Glenwood Springs, Colo.; First Community Financial Partners Inc., Joliet, Ill.; F&M Financial Corp., Clarksville, Tenn.; and F&M Financial Corp., Salisbury, N.C. It also will conduct a public auction of its preferred stock in Yadkin Valley Financial Corp.
Treasury has recovered $266 billion from TARP's bank programs compared to the $245 billion initially invested. It has remaining outstanding CPP investments in 302 banks.
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Regulators |
| OCC Taps New Enforcement, Compliance Director |
| The Office of the Comptroller of the Currency selected Ellen Warwick as director for enforcement and compliance. Warwick will oversee the OCC’s Law Department Division, which conducts investigations, recommends administrative actions and litigates those enforcement actions on behalf of the agency. Warwick has served as an assistant director for enforcement and compliance at the OCC since July 2011. |
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In Depth |
| TAG Is It as Congress Returns |
| With Congress returning next week after an extended August recess, the community banking industry will be focused on extending unlimited FDIC coverage of noninterest-bearing transaction accounts, according to a new in-depth article on the ICBA Independent Banker website. The limited, election-year legislative schedule makes extending the Transaction Account Guarantee (TAG) program especially urgent, ICBA Executive Vice President for Congressional Relations and Chief Economist Paul Merski writes. Read the Article. |
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Education |
| ICBA Offers Updated Compliance Tools |
| ICBA’s updated online Compliance Deskbook and Bulletin Service offers a comprehensive compliance resource for community banks. The service offers an easy-to-use calendar for quick reference, automatic updates to community banking regulations, information on all the federal banking agencies and more. Learn More. |
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Products and Services |
| Free Webinar: Loan Reviews—Will Yours Pass the Test? |
| WebEquity Solutions, the ICBA Preferred Service Provider for commercial- and ag-lending software, is hosting a webinar at 2 p.m. (Eastern time) Thursday, Sept. 13: “Loan Review Programs—Will Yours Pass the Test?” As regulatory oversight intensifies, financial institutions must be prepared to meet the new standards of safety and soundness. During this session, community bankers will hear about what their role is in providing a solid framework for a loan review program and the big issues examiners are focused on in this area this year. Register Online. |
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ICBA NewsWatch Today
Published by the Independent Community Bankers of America
© 2012 ICBA
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