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Compliance - Page 2

Regulators Propose Formula for TILA and Consumer Leasing Act Exemptions

July 25 – Federal regulators have issued proposals for the method that will be used to adjust the threshold for exempting small loans from special appraisal requirements, and the method that will be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act. (more…)

Battling AML Regulations With Entity Resolution

By Jack Bullock

Financial institutions across the country are facing a collective, unprecedented challenge. Constantly evolving, stringent anti-money laundering regulations and “know-your-customer” safeguards require these businesses to present a transparent, detailed and precise view of customers. Cutting through the complexity of these regulations and managing data to ensure compliance places a huge burden on these firms, financially, technologically and in terms of appropriate skill sets. It is, however, absolutely critical as the impact of non-compliance is huge.


Proactive Compliance Is Key to Increased Profits

By Carey Rome

Recent presidential debates and popular rhetoric have painted financial regulations as a wet blanket for an otherwise thriving economy. Meanwhile, the financial technology industry — fintech — is experiencing a new genesis.


OCC Proposes Regulatory Rule Relief

March 22 – The Office of the Comptroller of the Currency has proposed eliminating rules thought to be outdated or unnecessary in a proposal to reduce regulatory burden on national banks and federal savings associations. (more…)

The Compliance Burden: Ease the Pain With This Six-Point Plan

By Pam Perdue

The mere mention of the word “compliance” can incite fear or contempt. But new discoveries about how compliance can be made reliable, transparent, predictable and repeatable are happening every day, as “RegTech” breaks off from FinTech as its own category. In a sea of rules, compliance tasks are daunting, but focusing on the six objectives of compliance management turns that chaos into order.


Banking Compliance Index Tracked 125 New Issuances Over Fourth Quarter

January 20 – Community financial institutions faced a record-breaking 125 regulatory issuances during the fourth quarter of 2015, increasing the total number of regulatory pronouncements to 329 for the full year 2015, according to the Banking Compliance Index™. This represents a 56 percent increase from the number of rule issuances institutions saw during Q3 2015, and a 9 percent increase over 2014. (more…)

‘Know Before You Owe’ Lengthening Loan Closing Times

December 17 – The average time to close a loan increased by three days to 49 total days in November, the longest time to close since February of 2013, according to the latest Origination Insight Report released by Ellie Mae (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. The average time to close FHA, Conventional and VA loans all increased to 49, 49 and 50 days, respectively. The increase could be due to lenders adjusting to the new RESPA-TILA (Know Before You Owe) regulations. (more…)

White Paper: Offers Compliance Guidance on Windows 10

November 10 – Windows 10 has been out since this summer, but bankers are still evaluating whether to take the plunge. What are users of older operating systems to do? (more…)

Regulators Plan EGRPRA Outreach

October 5 – Federal banking agencies will hold an outreach meeting Oct. 19 at the Federal Reserve Bank of Chicago as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act. The meeting is the fifth in a series of outreach sessions that the FDIC, the Federal Reserve Board and the Office of the Comptroller of the Currency are holding throughout the country. (more…)

FFIEC Proposes Simplification of Call Reports for Community Banks

September 14 – Regulators have proposed new steps to streamline and simplify regulatory reporting requirements for community banks and reduce their reporting burden. Objectives set forth by the Federal Financial Institutions Examination Council in this community bank burden-reduction initiative are consistent with the early feedback the FFIEC has received as part of the regulatory review being conducted under the Economic Growth and Regulatory Paperwork Reduction Act of 1996. (more…)

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