The OCC revised the booklet entitled “Changes in Directors and Senior Executive Officers” booklet of Comptroller’s Licensing Manual. The revisions incorporates revised regulatory requirements for changes in directors and senior executive officers and distinguishes between requirements for national banks and federal savings associations, explains when prior notice is required, outlines 90-day review period and standards of review, and contains references and links to forms and documents that institutions may find useful during the filing process.

https://www.occ.gov/news-issuances/bulletins/2017/bulletin-2017-11.html

NACHA, the Electronic Payments Association®, America Saves, and ePay Resources TM have partnered to host a webinar highlighting the value of split deposits during America Saves Week. The free webinar will be held on Feb 23 at 2 pm with registration available on NACHA’s website.

https://www.nacha.org/news/split-save-campaign-launches-encourage-american-workers-increase-savings-and-build-wealth

The ACH Operations Bulletin provides guidance for financial institutions on steps that they and their originators each can take to reduce their respective vulnerabilities to certain types of social engineering fraud.

https://www.nacha.org/news/ach-operations-bulletin-1-2017-social-engineering-fraud-against-public-sector-and-other

Two individuals were deleted from the SDN List.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20170216.aspx

The CFPB is requesting comments on the potential use of alternative data and modeling techniques in the credit process.

https://www.consumerfinance.gov/policy-compliance/notice-opportunities-comment/open-notices/request-information-regarding-use-alternative-data-and-modeling-techniques-credit-process/

The CFPB is requesting comments on an initiative that would take a closer look at the way consumers repay student debt and track the student loan industry activities that are depended on if someone experiences financial stress. The data being requested includes the total size of the student loan market, IDR Plans, borrowers who face the greatest risk of default, and borrowers with private student loans that face financial distress.

https://www.consumerfinance.gov/about-us/blog/increasing-transparency-student-loan-servicing-market/

NACHA released its government relations update discussing CFPB Granted Rehearing of Court Ruling, NACHA Submits Comments on Enhanced Cyber Risk Management Standards, Comments on 12 NYCRR Part 192 Governing the Methods of Payment of Wages, from APA, NACHA and AFP, and a link to a Legislative Toolkit.

https://www.nacha.org/NACHA-Government-Relations-Update-Feb-16-2017

The FTC testified before Congress on the current trends relating to fraud affecting older Americans and how the FTC uses law enforcement and other tools at its disposal to combat these frauds. There are several varieties of fraudulent and deceptive schemes that affect older Americans including fraudulent prize promotion schemes, timeshare sales and resales, health care products and services, investments, business opportunities and work-at-home programs, technical support services, and charitable donations.

https://www.ftc.gov/news-events/press-releases/2017/02/ftc-testifies-senate-judiciary-committee-its-efforts-combat-fraud

In 2016, the FTC sent a summary of its 2016 work on debt collection practices to the CFPB for inclusion in the CFPB’s annual report to congress on the FDCPA. The FTC filed or resolved 12 cases against 61 defendants, banned 44 companies and individuals from debt collection activities, and secured successful summary judgments in three litigated matters.

https://www.ftc.gov/news-events/press-releases/2017/02/ftc-reports-2016-activities-combat-illegal-debt-collection

The FDIC enhanced its website where qualified organizations can join or renew their membership to the Money Smart Alliance Program. The website also offers organizations the opportunity to find potential collaborators and consumers to find organizations that offer the training.

https://www.fdic.gov/news/news/financial/2017/fil17008.html