Stop by Daily for What's Hot Right Now in Compliance & Risk for Credit Unions & Banks

Federal regulators have temporarily eased appraisal requirements for real estate transactions in wildfire- and wind-damaged areas of Los Angeles County to help speed recovery and loan processing, with the policy in effect until January 8, 2028. [4/17/25]

Nacha has issued a Request for Comment and Request for Information on proposed changes to International ACH Transactions (IATs), aiming to improve their usefulness, streamline processing, and ensure better information flow, with proposals including same-day processing and mandatory IAT contact listings for financial institutions. [4/3/25]

The Consumer Financial Protection Bureau announced it will not prioritize enforcement of penalties related to the Payment Withdrawal and Payment Disclosure provisions of the Payday, Vehicle Title, and High-Cost Installment Loans Regulation, focusing instead on consumer protection for servicemen, veterans, and small businesses. [4/3/25]

The Acting Director of the CFPB, Russ Vought, is seeking to vacate the settlement and refund the six-figure penalty imposed on Townstone Financial after a seven-year harassment saga, arguing that the agency misused its power, targeting the small firm based on arbitrary redlining statistics and protected political speech. [3/27/25]

The NCUA's 2024 Annual Report highlights the agency's strong financial position, achievements in meeting strategic goals, and Chairman Hauptman's focus on enhancing credit union innovation, streamlining regulations, and ensuring competitiveness. [3/20/25]

The latest NCUA Quarterly U.S. Map Review shows that while federally insured credit unions saw growth in shares and deposits in 2024, with a slight increase in assets and a rise in delinquency rates, loan levels remained unchanged, and most credit unions reported positive net income. [3/20/25]

The NCUA will no longer publish individual credit union overdraft and non-sufficient fund fee income, instead collecting the data during examinations, to avoid unintended consequences and better support low-income and underserved communities. [3/6/25]

Nacha has named ACI Worldwide as its newest Preferred Partner for ACH Experience, Fraud Monitoring, and Risk Prevention, with ACI providing AI-powered account-to-account solutions to enhance the ACH Network and improve fraud management. [2/27/25]

The NCUA will begin using an external vendor to administer its voluntary post-examination survey for federal credit unions starting in March 2025 to gather feedback and improve examination processes. [2/13/25]

The NCUA's four funds received unmodified, or "clean", audit opinions for 2024, with the Share Insurance Fund holding assets of $22.3 billion to protect deposits for over 142 million members at 4,400 credit unions. [2/13/25]

As we move into 2025, AI continues to transform payments and financial services, while businesses also need to prepare for upcoming Nacha rule updates on fraud monitoring and ACH credit entry processes, which will take effect in 2026. [2/6/25]

President Trump has appointed Kyle S. Hauptman as the new Chairman of the NCUA Board, where his priorities will include re-evaluating the NCUA budgeting process, improving efficiency, promoting AI use, fostering financial inclusion, and reassessing regulations affecting small and low-income credit unions. [1/30/25]

Federal regulators have temporarily eased appraisal requirements for real estate transactions in wildfire- and wind-damaged areas of Los Angeles County to help speed recovery and loan processing, with the policy in effect until January 8, 2028. [4/17/25]

Nacha has issued a Request for Comment and Request for Information on proposed changes to International ACH Transactions (IATs), aiming to improve their usefulness, streamline processing, and ensure better information flow, with proposals including same-day processing and mandatory IAT contact listings for financial institutions. [4/3/25]

The Consumer Financial Protection Bureau announced it will not prioritize enforcement of penalties related to the Payment Withdrawal and Payment Disclosure provisions of the Payday, Vehicle Title, and High-Cost Installment Loans Regulation, focusing instead on consumer protection for servicemen, veterans, and small businesses. [4/3/25]

The OCC withdrew from the interagency principles for climate-related financial risk management, citing concerns that the guidelines were overly burdensome and duplicative. [4/3/25]

The Acting Director of the CFPB, Russ Vought, is seeking to vacate the settlement and refund the six-figure penalty imposed on Townstone Financial after a seven-year harassment saga, arguing that the agency misused its power, targeting the small firm based on arbitrary redlining statistics and protected political speech. [3/27/25]

The OCC has launched a new Digitalization page to support community banks in using technology to improve operations, increase revenue, and stay competitive, while providing relevant rules and guidance for their digitalization efforts. [3/20/25]

The 2024 Shared National Credit report indicates moderate credit risk in large syndicated loans, with weakened credit quality trends due to high interest rates and industry pressures, while highlighting concerns for 2025 based on borrowers' ability to manage costs and broader economic factors. [3/13/25]

The House Financial Services Committee voted 30-19 to pass a resolution overturning a Consumer Financial Protection Bureau rule regulating overdraft fees, with the ICBA arguing the rule exceeds the CFPB’s authority and disrupts essential short-term liquidity for consumers. [3/6/25]

Nacha has named ACI Worldwide as its newest Preferred Partner for ACH Experience, Fraud Monitoring, and Risk Prevention, with ACI providing AI-powered account-to-account solutions to enhance the ACH Network and improve fraud management. [2/27/25]

The Federal Financial Institutions Examination Council is updating the Interest Rate Risk Analysis page of the Uniform Bank Performance Report on or after February 22, 2025, as part of a multiyear review. [2/20/25]

The OCC, under Acting Comptroller Rodney E. Hood, withdrew from the Network of Central Banks and Supervisors for Greening the Financial System, citing that it does not align with the agency's core regulatory mandate. [2/13/25]

The FDIC released 175 documents related to its supervision of banks involved in crypto activities, acknowledging past resistance to such ventures and outlining efforts to reevaluate its approach moving forward. [2/13/25]

Acting Comptroller Rodney E. Hood outlined the OCC’s priorities, including reducing regulatory burden, promoting financial inclusion, supporting bank-fintech partnerships, and advancing responsible use of digital assets, while reinforcing the agency’s commitment to a modern, secure banking system. [4/17/25]

The CFPB announced it will not prioritize enforcement of registration deadlines under its nonbank registry rule and is considering rescinding or narrowing the regulation to focus on more pressing consumer protection issues. [4/17/25]

FinCEN has renewed its Geographic Targeting Orders requiring title insurance companies to identify individuals behind shell companies in certain high-risk real estate purchases to help combat illicit financial activity, effective April 15 to October 9, 2025. [4/17/25]

The 2024 Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data, containing loan-level information from nearly 4,900 filers, is now available on the FFIEC's HMDA Platform for easier public access. [4/3/25]

FinCEN issued an Advisory to help financial institutions identify and report suspicious activity related to ISIS financing, outlining how the group and its affiliates fund themselves and transfer money globally. [4/3/25]

FinCEN issued an alert urging financial institutions to monitor and report bulk cash smuggling and repatriation activities by Mexico-based Transnational Criminal Organizations (TCOs), which use these operations to launder illicit proceeds between the U.S. and Mexico's financial systems. [4/3/25]

The Acting Comptroller of the Currency highlights the OCC’s 2025 priorities, emphasizing financial inclusion, regulatory developments, and the importance of affordable homeownership to promote generational wealth, while acknowledging NAHREP's role in advancing these goals. [3/27/25]

The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule exempting U.S. companies and persons from reporting beneficial ownership information (BOI) under the Corporate Transparency Act, while requiring foreign entities meeting the new "reporting company" definition to submit BOI to FinCEN by specified deadlines. [3/27/25]

OFAC published a Final Rule extending recordkeeping requirements from five to ten years, aligning with the extended statute of limitations for certain sanctions violations, and updated its SDN List. [3/20/25]

In 2024, fraud reports remained steady, but the financial losses surged to $12.5 billion, with a significant increase in online scams, investment fraud, and social media-related scams, while younger people lost money more often and older adults faced higher individual losses. [3/13/25]

FinCEN issued a Geographic Targeting Order (GTO) requiring money services businesses in 30 ZIP codes near the U.S.-Mexico border to report cash transactions above $200 to combat money laundering and illicit activities by Mexico-based cartels and criminal organizations. [3/13/25]

OFAC has launched a new File Finder application on its website, allowing users to search and navigate all static content, including documents like executive orders, advisories, and general licensees, by title, type, and content. [2/27/25]