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February 5, 2021 |
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 Features
By streamlining their anti-money laundering operations, banks will not only maintain their defenses, but also their market share.
Risk and Compliance News
Banks made accommodations to help consumers address pandemic-related hardships beyond what was legally required under the CARES Act, the Consumer Financial Protection Bureau observed in its latest "Supervisory Highlights" report.
The Consumer Financial Protection Bureau will increase its supervision and enforcement efforts to ensure that companies delivering COVID-19 relief are meeting their legal obligations and protecting consumers, Acting CFPB Director Dave Uejio said.
ABA has joined a coalition of finance, housing and insurance trade groups in a letter urging the Department of Housing and Urban Development to quickly advance a proposed rule that would allow mortgagors the option to purchase private flood insurance on Federal Housing Administration-insured mortgages for properties located in Special Flood Hazard Areas.
The FDIC recently proposed several changes to its rules regarding bank securities. Among other things, the FDIC proposed to rescind a transferred Office of Thrift Supervision securities offering regulation that applies only to state savings associations and a 1996 statement of policy on the use of offering circulars, which only applies to state nonmember banks.
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