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May 15, 2020 |
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 Features
As states begin to relax stay-at-home orders, many banks are beginning to plan for the safe and efficient return to normal in-office operations. Here are some answers to banker questions on what they need to know.
Risk and Compliance News
Financial Crimes Enforcement Network Director Kenneth Blanco has outlined several coronavirus-related trends FinCEN is seeing in cyber crime.
The Consumer Financial Protection Bureau today said it would provide flexibility for creditors to resolve billing errors during the coronavirus pandemic.
FDIC Chairman Jelena McWilliams confirmed that banks should rely on borrowers’ statements certifying that their economic need is legitimate when making Paycheck Protection Program loans, referencing a recent interim final rule issued by the Small Business Administration.
The nation’s banks "entered the current crisis well positioned to support continued lending" during the pandemic, the Federal Reserve said in its supervision and regulation report released today.
In a letter to the OCC, the ABA offered support for guidance issued by the agency in March aimed at providing additional flexibility to the rules governing short-term investment funds—bank-managed funds for fiduciary clients that are similar to money market mutual funds.
The Consumer Financial Protection Bureau has finalized several ABA-advocated changes to the remittance rule, including one that will permanently allow depository institutions to estimate certain fees and exchange rates when making disclosures to their customer about the cost of remittance transfers.
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