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:
Thirty organizations join the 2017 Your Money, Your Goals cohort
| Issue Date: | March 10, 2017 |
| Agency: | CFPB | Highlights: | The CFPB has selected 30 organizations to join the Your Money, Your Goals cohort and receive training and technical assistance on how to use the program. |
| Reference: | |
| Personnel Affected: | CRA Officer |
| Status: | Announcement |
| Keywords: | Financial Literacy |
| Effective Date: | 04/20/2024 |
Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z); Delay of Effective Date
| Issue Date: | March 9, 2017 |
| Agency: | CFPB | Highlights: | The CFPB is delaying the effective date of the Prepaid Account Rule under Regulation E and Regulation Z by six months. The new rule will be effective April 1, 2018 rather than the original effective date of October 1, 2017. |
| Reference: | |
| Personnel Affected: | Compliance Officer |
| Status: | Proposed Rule |
| Keywords: | Prepaid Account Rule |
| Effective Date: | 04/01/2018 |
General License No. 4F Authorizing Certain Transactions Involving the Panamanian Mall and Associated Complex, Soho Panama, S.A. (a.k.a. Soho Mall Panama)
| Issue Date: | March 9, 2017 |
| Agency: | OFAC | Highlights: | OFAC published a Kingpin Act General License authorizing certain transactions and activities that are otherwise prohibited under the Kingpin Act. OFAC also updated the related FAQs. |
| Reference: | https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20170309.aspx |
| Personnel Affected: | OFAC Officer |
| Status: | Publication |
| Keywords: | Kingpin Act |
| Effective Date: | 04/20/2024 |
SAR Stats Issue 3
| Issue Date: | March 9, 2017 |
| Agency: | FinCen | Highlights: | FinCEN published its third SAR Stats technical bulletin. The bulletin provides information regarding the number of SARs filed from 2012 through 2016 for most industries. Statistics are available for depository institutions, MSBs, securities and futures firms, insurance companies, casinos and card clubs, other types of financial institutions, loan or finance companies and housing GSEs. |
| Reference: | https://www.fincen.gov/sar-stats/sar-stats/sar-stats-issue-3 |
| Personnel Affected: | BSA Officer |
| Status: | Publication |
| Keywords: | SAR Stats |
| Effective Date: | 04/20/2024 |
March Open Board Meeting Cancelled
| Issue Date: | March 9, 2017 |
| Agency: | NCUA | Highlights: | The NCUA cancelled it March 16 open meeting. |
| Reference: | https://www.ncua.gov/newsroom/Pages/news-2017-march-open-board-meeting-cancelled.aspx |
| Personnel Affected: | Credit Unions |
| Status: | Announcement |
| Keywords: | NCUA Open Board Meeting |
| Effective Date: | 04/20/2024 |
FTC to host FinTech Forum on March 9 on Artificial Intelligence and Blockchain Technology
| Issue Date: | March 8, 2017 |
| Agency: | FTC | Highlights: | The FTC will be hosting a FinTec h Forum on AI and Blockchain Technology at UC Berkeley. The event is free and open to the public. It will also be shown live via webcast. Details can be found on the FTC’s website. |
| Reference: | |
| Personnel Affected: | Fintech |
| Status: | Training |
| Keywords: | AI and Blockchain Technology |
| Effective Date: | 03/09/2017 |
OCC Issues Second Quarter 2017 CRA Evaluation Schedule
| Issue Date: | March 7, 2017 |
| Agency: | OCC | Highlights: | The OCC released its second quarter CRA evaluations. |
| Reference: | https://www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-28.html |
| Personnel Affected: | CRA Officers |
| Status: | Announcement |
| Keywords: | CRA Evaluations |
| Effective Date: | 04/20/2024 |
FDIC’s Supervisory Insights Winter Edition Focuses on Credit Risk
| Issue Date: | March 7, 2017 |
| Agency: | FDIC | Highlights: | The FDIC issued “Credit Risk Trends and Supervisory Highlights” focusing on the trends in credit risk and effective risk management practices. |
| Reference: | |
| Personnel Affected: | Credit Risk Officers |
| Status: | Announcement |
| Keywords: | Credit Risk |
| Effective Date: | 04/20/2024 |
Prepared Remarks of CFPB Director Richard Cordray at the LendIt USA Conference
| Issue Date: | March 6, 2017 |
| Agency: | CFPB | Highlights: | Richard Cordray, Director of the CFPB, addressed the Lendit USA conference discussing the Project Catalyst initiative, the issue of consumer control over their personal financial data, and the benefits and risks of using unconventional data sources to underwrite loans. |
| Reference: | |
| Personnel Affected: | Compliance Officers, Consumer Lenders |
| Status: | Industry Trends |
| Keywords: | CFPB initiatives |
| Effective Date: | 04/20/2024 |
Comptroller Discusses Financial Technology Innovation
| Issue Date: | March 6, 2017 |
| Agency: | OCC | Highlights: | Thomas J. Curry, the Comptroller of the Currency, discussed financial technology innovation at LendIt USA 2017. The speech discussed responsible innovation to expand financial services and improve the delivery of financial products as well as an update on current OCC initiatives related to the topic . |
| Reference: | https://www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-27.html |
| Personnel Affected: | Compliance Officers |
| Status: | Industry Trends |
| Keywords: | Fintech |
| Effective Date: | 04/20/2024 |