Compliance News

In today’s banking environment as soon as one big new regulation is implemented another pops up. Our compliance resources help your community bank stay one step ahead of the regulators.

Regulations and Guidance

Recent News

FinCEN proposes virtual currency recordkeeping rules

Dec 21, 2020 | NewsWatch Today Article
The Financial Crimes Enforcement Network issued a proposed rule to increase transparency of certain transactions involving convertible virtual currency or digital assets with legal tender status.

CFPB issues follow-up debt-collection rule

Dec 21, 2020 | NewsWatch Today Article
The Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act requirements for certain consumer disclosures. The rule requires debt collectors to provide detailed disclosures at the outset of collection communications.

Agencies adjust CRA asset thresholds

Dec 18, 2020 | NewsWatch Today Article
Federal regulators announced the annual adjustment to Community Reinvestment Act thresholds. Effective Jan. 1, the “small bank” or “small savings association” designation applies to institutions that as of Dec. 31 of either of the prior two calendar years had assets of less than $1.322 billion.

FDIC proposes amendments to SAR regs

Dec 16, 2020 | NewsWatch Today Article
The FDIC proposed a rule to amend the agency’s Suspicious Activity Report regulation. The proposal would permit the FDIC to issue additional, case-by-case exemptions from SAR filing requirements to FDIC-supervised institutions.
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