OCC Proclaims Dec. 5th as National Day of Mourning for President George H. W. Bush

The Office of the Comptroller of the Currency (OCC) released a proclamation to national banks allowing them, under federal law, to close their offices on December 5th, 2018, at their discretion, in any state where the governor has declared a legal holiday honoring the National Day of Mourning for President George H. W. Bush.

Continue reading

FDIC Issues Request for Information on Small-Dollar Lending Products

The Federal Deposit Insurance Corporation has recently requested comments from individuals and parties interested on issues regarding small-dollar lending and ways to improve small-dollar credit offerings that not only meet customers’ needs and are economically viable but are also underwritten and structured responsibly. Comments for the request for information (RFI) are due no later than 60 days past date of publication, November 14, 2018.

Continue reading

FDIC Releases Plan to Help Financial Institutions in Hawaii

The Federal Deposit Insurance Corporation (FDIC) recently released its guideline for regulatory relief of financial institutions affected by natural disasters in Hawaii. The guide outlines the steps by which it will help these regulated entities make a full recovery from accrued damages.

Continue reading

House Passes Dodd-Frank Act Deregulation Reform Bill

The Financial Services Committee announced today that the House of Representatives has passed the ‘Economic Growth Regulatory Relief and Consumer Protection Act,” by a 258-159 vote. The new bill is presented as a “pro-growth financial regulatory reform package,” which features a significant number of rollbacks of Dodd-Frank Act regulations since the financial crisis almost a decade ago.

Continue reading

FDIC Chairman Martin J. Gruenberg Speaks at Technology Forum in Arlington

The Federal Deposit Insurance Corporation (FDIC) released remarks from Chairman Martin J. Gruenberg at the Forum on the Use of Technology in the Business of Banking that took place yesterday, May 7th, in Arlington, Virginia. At the forum, banking experts and technology leaders in the industry gathered to discuss how emerging technologies will change banking operations, retail banking, consumer financial data access and more.

Continue reading

FHFA Releases RFC for Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance

The Federal Housing Finance Agency (FHFA) has recently announced a Request for Comments (RFC) regarding proposed amendments to its regulation on the Responsibilities of Boards of Directors, Corporate Practices, and Corporate Governance for all its regulated entities. These amendments will require directors of all entities to have strategic business plans in effect throughout the year, including annual reviews, re-adoption and reporting requirements.

Continue reading