Alerts Now

Stay informed of all regulatory changes regardless of stage! Receive the latest Financial Services industry compliance news every week, including summaries of relevant announcements from more than 20 different regulatory bodies and overviews of personnel and products affected. Focusing on the changes that may impact your training and policy management programs our service covers the following agencies and more:

  • CFPB (Consumer Financial Protection Bureau)
  • FDIC (The Federal Deposit Insurance Corporation)
  • IRS (Internal Revenue Service)
  • OCC (The Office of the Comptroller of the Currency)
  • Federal Reserve, NCUA (The National Credit Union Administration)
  • FinCEN (Financial Crimes Enforcement Network)
  • HUD (The Department of Housing and Urban Development)
  • Alerts Now
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    OCC Issues Draft Licensing Manual Supplement for Evaluating Charter Applications From Financial Technology Companies, Will Accept Comments Through April 14

    Issue Date:March 15, 2017
    Agency:OCC
    Highlights:

    The OCC provided a draft supplement to the agency’s existing Licensing Manual that provided additional details on evaluating charter applications from fintech companies. Comments should be submitted to [email protected]

    Reference:

    https://www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-31.html

    Personnel Affected:FinTech institutions
    Status:Comments
    Keywords:Fintech
    Effective Date:04/14/2017
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    Request for Information Regarding Consumer Credit Card Market

    Issue Date:March 15, 2017
    Agency:CFPB
    Highlights:

    The CFPB is requesting comments on the CARD Act relating to the terms of credit card agreements, the effectiveness of the disclosures, the adequacy of protections against UDAAP and unlawful discriminations, the cost and availability of consumer credit cards, deferred interest products, subprime specialist products, third-party comparison sites, innovation, secured credit cards, online and mobile account servicing, rewards products, variable interest rates, and debt collection.

    Reference:

    https://www.regulations.gov/document?D=CFPB_FRDOC_0001-0528

    Personnel Affected:Credit Card Issuers
    Status:Comments
    Keywords:Credit Cards
    Effective Date:03/28/2024
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    NACHA Introduces the Faster Payments Experience at PAYMENTS 2017

    Issue Date:March 14, 2017
    Agency:NACHA
    Highlights:

    The Electronic Payments Association will introduce the Faster Payments Experience, an educational opportunity focusing on real-time, same-day and other faster payments initiatives at PAYMENTS 2017. PAYMENTS 2017 will take place on April 23-26 in Austin, Texas. Registration is open and available online.

    Reference:

    https://www.csbs.org/news/press-releases/pr2017/Pages/031317.aspx

    Personnel Affected:Operations
    Status:Announcement
    Keywords:ACH
    Effective Date:03/28/2024
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    Counter Terrorism Designation

    Issue Date:March 14, 2017
    Agency:OFAC
    Highlights:

    OFAC added one name to the SDN List.

    Reference:

    https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20170314.aspx

    Personnel Affected:OFAC Officer
    Status:SDN List
    Keywords:SDN List
    Effective Date:03/28/2024
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    FDIC Enhances Tool to Prevent Elder Financial Exploitation

    Issue Date:March 13, 2017
    Agency:FDIC
    Highlights:

    The FDIC enhanced its Money Smart for Older Adults to provide new information and resources aimed at helping older adults avoid becoming the victims of fraud and scams.

    Reference:

    https://www.fdic.gov/news/news/press/2017/pr17021.html

    Personnel Affected:Fraud Officer
    Status:Announcement
    Keywords:Elder Financial Abuse
    Effective Date:03/28/2024
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    “A Market-Based Proposal for Regulatory Relief and Accountability” — Remarks by FDIC Vice Chairman Thomas M. Hoenig, Presented to the Institute of International Bankers Annual Washington Conference

    Issue Date:March 13, 2017
    Agency:FDIC
    Highlights:

    Thomas M. Hoenig, FDIC Vice Chairman, gave a speech at the Institute of International Bankers Annual Conference discussing a proposal for accountability and regulatory relief that would partition nontraditional bank activities into separately managed and capitalized affiliates.

    Reference:

    https://www.fdic.gov/news/news/speeches/spmar1317.html

    Personnel Affected:CEO and Board of Directors
    Status:Regulatory Trends
    Keywords:Regulatory Reforms
    Effective Date:03/28/2024
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    NCUA Issues 2016 Annual Report

    Issue Date:March 13, 2017
    Agency:NCUA
    Highlights:

    The NCUA issued its annual report highlighting the agency’s activities in 2016.

    Reference:

    https://www.ncua.gov/newsroom/Pages/news-2017-march-ncua-issues-2016-annual-report.aspx

    Personnel Affected:Credit Union Board
    Status:Announcement
    Keywords:NCUA Annual Report
    Effective Date:03/28/2024
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    Comptroller Discusses the Value of International Collaboration and Bank Supervision

    Issue Date:March 13, 2017
    Agency:OCC
    Highlights:

    The Comptroller of the Currency, Thomas J. Curry, spoke at the Institute of International Bankers Annual Washington Conference on the value of international collaboration for AML compliance.

    Reference:

    https://www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-30.pdf

    Personnel Affected:BSA Officers
    Status:Regulatory Trends
    Keywords:AML
    Effective Date:03/28/2024
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    Consolidated Processes and Procedures for Mutual Evaluations and Follow-Up (Universal Procedures)

    Issue Date:March 10, 2017
    Agency:FATF
    Highlights:

    The FATF published its universal procedures that outline the core elements for all evaluations based on Procedures for the FATF 4th Round of AML/CFT evaluations.

    Reference:

    https://www.fatf-gafi.org/publications/fatfgeneral/documents/universal-procedures.html

    Personnel Affected:BSA Officers
    Status:Publication
    Keywords:FATF Evaluations
    Effective Date:03/28/2024
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    Comptroller Discusses the Condition of the Federal Banking System

    Issue Date:March 10, 2017
    Agency:OCC
    Highlights:

    Thomas J. Curry, the Comptroller of the Currency, discussed the current condition of the federal banking system in a speech given at the Central Connecticut State University as part of their Distinguished Banking and Finance Lecture series.

    Reference:

    https://www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-29.html

    Personnel Affected:CEO and Board
    Status:Industry Trends
    Keywords:Community Banking
    Effective Date:03/28/2024