Newsletter Archive 2018 | Bankers Compliance Group

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BCG Monthly Newsletter Archive

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BCG Monthly Newsletter Archive

2018

Newsletter Highlights

NFIP Funded Until January 19, 2018
FEMA Issues NFIP Lapse Guidance
HPML Escrow Account Small Creditor Asset-size Threshold Increases
SCRA Foreclosure Protections Extended
Agencies Give Reprieve on 2018 HMDA Data Enforcement
HMDA Asset-size Threshold Exemption Increases
CFPB Updates HMDA Resources Page
FRB Proposes Reg M (Consumer Leasing) Amendments
DoD Amends MLA Q&As – Clarifies Security Interests in Deposit Accounts
TRID: Revised LE After CD
CFPB Expects to Amend Prepaid Accounts Rule
Mastercard, Amex and Discover Drop Signature Requirement
Congress May Soon Ban Any Form of Operation Choke Point
NIST Releases Second Draft of Cybersecurity Framework
Deposit Income Backup Withholding Rate Reduced
Attorney General Issues Marijuana Enforcement Memo
Guidance Issued on Conducting Exams of Institutions Impacted by Major Disasters
California Bank Settles Overtime Compensation Litigation
FFIEC Re-Issues 2016 CRA Small Business and Small Farm Data
Agencies Increase CRA Asset-size Threshold Used to Define Small and Intermediate Small Banks

Stephanie Shea and Joel Cook Made Firm Shareholders
2018 HMDA LAR Formatting Tool Now Available
Circuit Panel Muddies RESPA Waters as to Permissible Payments
Ninth Circuit: California Credit Card Surcharge Prohibition Unconstitutional
Claiming SB 2 $75 Recording Fee Exemption
Secret Service, Diebold Nixdorf and NCR Issue ATM Jackpotting Alerts
Bureau Amends Prepaid Accounts Rule, Extends Effective Date
Bureau Contemplates Changing CID Process
Possible CRA Credit for Revitalization Activities in Areas Hurricane Maria Impacted

One Lawsuit Opposing Mulvaney Dismissed
Cannabis-Serving CU Approved for Federal Reserve Master Account
U.S. Bank Pays Big for BSA Deficiencies
Seven States Move Toward Multistate MSB Licensing
Supreme Court: Reporting Securities Law Violations to SEC Triggers Anti-Retaliation Protections
FRB Consent Order Restricts Wells Fargo’s Growth
D.C. Circuit Court: CLOs Not Subject to Dodd-Frank Risk Retention Rules
CA Appellate Court: Privacy Act Suit Against HSBC May Proceed
Second Circuit: Sexual Discrimination Includes Sexual Orientation
Reminder: 2017 EEO-1 Report Due by March 31, 2018

NFIP Temporarily Extended to July 31, 2018
Ninth Circuit Overturns 14 years of OCC Preemption Regulation
CFPB Amends Mortgage Servicing Bankruptcy Periodic Statement Transition Requirements
CA Fair Lending Notice: DBO Consolidation of San Francisco Offices
HUD SCRA Notice
FinCEN Issues More CDD FAQs
Marijuana Banking Update
Ninth Circuit: FFIEC BSA/AML Exam Procedures Legal Authority for BSA Regs
IRS Updates Nonresident Alien Depositor No TIN List
FRB Proposes Regulation CC-conforming Amendments to Regulation J
NACHA Third-party Senders and Property Managers
De Minimis Transaction Threshold Appraisal Exemption Increased for Commercial Loans
SEC Issues Public Company Cybersecurity Disclosures Guidance
FFIEC Continues Efforts on Modernizing Exams
Regulatory Relief: It’s Up to the House
D.C. District Court Overturns Part of NCUA’s FOM Rule
NCUA Issues ANPR for FCU Bylaws
Treasury Recommends Ways to Modernize CRA
Immigrant Worker Protection Act Notice Template Now Available Online

BCG Blue is Going Green: What the E-Manual Means for Your Institution
CFPB Resolves TRID “Black Hole”
Revised Interagency Reg X and Reg Z Exam Procedures Issued
Erratum
Visa Follows Other Credit Card Networks – Drops Signature Requirement.
Agencies Issue Joint Technical Alert on Russian State-Sponsored Cyber Attacks
FFIEC Issues Joint Statement on Cyber Insurance
CA Cannabis Banking Bill Revived
Agencies Propose Rules to Implement New CECL Method
FRB and OCC Issue GSIBs Regulatory Capital Rule Proposal; FDIC Abstains
NCUA Revises Advertising Rules
Ninth Circuit: Prior Salary History Doesn’t Justify Wage Differences
EEOC Extends EEO–1 Filing Deadline to June 1
Erratum

President Signs Resolution Disapproving CFPB Indirect Auto Lending Guidance
OCC Outlines Short-Term, Small-Dollar Loan Principles
Brokering Mortgage Loans: Disclose to Consumer
Borrower Fraudulently Uses SSA for Loan
FFIEC Issues CDD and Beneficial Ownership Exam Procedures
FinCEN Provides Limited Auto-renewed Accounts Exception to Beneficial Ownership Requirements
Deposit Account Escheatment Q&As
Regulatory Relief Measure Signed
State-chartered Credit Unions No Longer Need DBO Approval to Amend Bylaws
Agencies Propose to Ease Volcker Rule
NCUA Proposes Additional Payday Alternative Loan Option
DOL Opinion Letter: FMLA-related Rest Break Compensation
California Supreme Court: “ABC” Test is Standard for Distinguishing Between Employees and Independent Contractors
FFIEC Releases 2017 HMDA Data

Agencies Issue Statement on Relief Act HMDA Amendments
FRB Notifies Banks Regarding PTFA Restoration
Ninth Circuit Stays Lusnak Decision
HUD May Reconsider its Disparate Impact Rule
New York District Court Rules CFPB Structure Unconstitutional
Regulation B: Intent to Apply as Joint Applicants
Wells Fargo Sued for Mobile Check Deposit Patent Infringement
Should Your Website Be ADA Compliant?
Escheat of IRAs
Tolling of Trust Accounts No Different from Other Deposit Accounts
SEC Increases Smaller Reporting Company Threshold
NCUA Amends FOM Rule; Retains CBSA Population Limit
Supreme Court Upholds Employee Arbitration Agreements’ Class Action Waivers
FEHC Issues New FEHA National Origin Rules
Effective July 1: Minimum Wages Increase for Some Cities
OCC Bulletin Clarifies CRA Supervisory Policies and Processes
List of Distressed and Underserved Non-MSA Middle-Income Census Tracts Updated

NFIP Extended to November 30, 2018
FRB Launches New Consumer Compliance Supervision Bulletin
TCF National Bank Settles Marketing and OD Allegations for Over $25 Million
Banks Vying for Los Angeles City Deposits Must Disclose Sales Goals
Agencies Issue Second Statement on Relief Act Impact
More on Interagency Statement on Relief Act Impact
New State Law Gives More Protection from Sexual Harassment Defamation Claims
California Appellate Court: Employee Disability Leave During Probationary Period Not Grounds for Termination
DFEH Proposes Regulations to Implement SB 396 Gender Identity
California Supreme Court: Calculating Overtime Rate for Flat-sum Bonuses

HMDA Data Collection Relief is Finally Here!
California Supreme Court: Consumer Loan Interest Rates May Be Unconscionable
CFPB Adjusts Certain Reg Z Rule Thresholds
CFPB Appeals New York District Court Constitutionality Ruling
Online Payday Lender Settles with CFPB for Almost $70 Million
CFPB Amends Reg P Annual Privacy Notice Requirements
FinCEN Adopts Exception to Beneficial Ownership Requirements
Agencies Adopt Relief Act Small Bank Exam Schedule
Bill Clarifies Restrictions on Salary Information Requests
NCUA Issues CDD and Beneficial Ownership Rule Exam Guidance
NCUA Proposes Amendments to Member Loan and Line of Credit Rules
OCC Revises Policy for Downgrading CRA Ratings
OCC Heads CRA Modernization Efforts

Bureau Proposes to Simplify “Disclosure Sandbox” Policy
Sometimes False Advertising is Obvious
Closing Disclosure for Seller
FDIC Proposes Rule on Reciprocal Deposits’ Treatment
OCC Updates Deposit-Related Credit Booklet
NACHA Enhances Same-Day ACH Processing
FTC Mails $10 Million in Monetary Relief to NetSpend Customers
Agencies Disclaim Guidance Documents’ Legal Force
OCC Proposes to Extend National Bank Powers to Eligible Savings Associations
Agencies Extend Comment Period on Proposed Volcker Rule Amendments
Immediate Relief for Small Bank Holding Companies
NCUA Proposes Increase to Appraisal Threshold for Non-Residential Real Estate Loans and More
California Supreme Court: Employees Must be Paid for Off-the-Clock Work
DOL Opinion Letters: No-fault Attendance Policies and Organ Donation
ACA, FCRA and FMLA Forms Updated

NFIP Set to Expire on November 30
California Appellate Court Affirms Reinstatement Right on Defaulted Deed of Trust
Does the FDCPA Apply to Non-Judicial Foreclosure Proceedings?
Ninth Circuit Broadly Defines Autodialer Phone Systems Under TCPA
Regulation Z Coverage of Business Credit Cards
“Consumer” Information Carved Out of California’s New Privacy Act but Sole Proprietor Info Remains Covered
Agencies Issue Statement on BSA/AML Collaborative Arrangements
California Law Imposes Women Director Minimums
Real Estate Appraisal FAQs Updated
New Commercial Financing Disclosure Law
NCUA Issues Narrative Approach Guidance
FFIEC Releases 2017 CRA Small Business, Small Farm and CD Loan Data

Congress Extends NFIP Until December 21
CFPB Launches Beta Version of HMDA Platform for Data Collected in 2018
Agencies Increase Dollar Thresholds for Certain Consumer Lending Rules
Agencies Propose Increase to Appraisal Exemption Threshold for Residential Real Estate-Secured Loans
FDIC Requests Information on Small Dollar Lending
Judge Stays CFPB’s Payday Loan Rule August 2019 Compliance Date
Agencies Encourage Innovative Approaches to AML Compliance
Bureau and FRB Propose Amendments to Reg CC
FDIC Announces Initiatives to Encourage De Novo Banks
Agencies Propose Community Bank Leverage Ratio
Valuable Information from Keynote Speaker at BCG Management & Directors Seminar
FASB Extends CECL Effective Date for Non-public Business Entities
DBO Requests Comments on Proposed Commercial Financing Disclosures
DOJ and Hudson Valley FCU Settle SCRA Allegations

* Janet Bonnefin is retired from the practice of law with the firm.

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