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BCG Monthly Newsletter Archive

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BCG Monthly Newsletter Archive 2018


Newsletter Highlights


January 2018
  • 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



February 2018
  • 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



March 2018
  • 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



April 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



May 2018
  • 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



June 2018
  • 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



July 2018
  • 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



August 2018
  • 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



September 2018
  • 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



October 2018
  • 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




November 2018
  • 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



December 2018
  • 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
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