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November 17, 2008
Briefs, November 17 — 21, 2007
September 15, 2008
Dugan Wants More HMDA Data from Big Banks
As the agencies released their 2007 HMDA data, Comptroller of the Currency John Dugan called for more data from big banks to make HMDA statistics more useful.
August 25, 2008
FTC Hangs Up on Prerecorded Messages
The Federal Trade Commission has revised its Telemarketing Sales Rule to expressly bar telemarketing calls that deliver prerecorded messages.
August 04, 2008
HOPE NOW Releases New Numbers
Lenders are helping troubled borrowers at a record pace, HOPE NOW says.
July 21, 2008
Fed Adopts Reg. Z Changes for Mortgages
Banks' compliance burdens will increase sharply as the new mortgage rules take effect.
April 28, 2008
Foreclosure Crisis Worsens
Industry measures to keep homeowners out of foreclosure are barely keeping pace with the rising rate of homeowners in trouble. This analysis comes from the State Foreclosure Prevention Working Group, which calls for greater federal efforts.
House Panel Acts on Housing Bills
The House Financial Services Committee worked on two bills to respond to the foreclosure crisis. One bill passed; work on the other will resume in a few days.
FinCEN Grants a Little CTR Relief
FinCEN has proposed simplifying the requirements for granting exemptions to CTR filing. The industry was hoping for more.
OCC Cuts Red Tape
The OCC has made some minor regulatory changes aimed at reducing unnecessary regulatory burdens.
November 19, 2007
FOMC to Reveal All
The Federal Open Market Committee will disclose more information more frequently in the future.
April 24, 2006
State Sees Discrimination in Money Laundering Control Efforts
Damned if you do and damned if you don’t? Banks can find themselves in some tricky situations because of concerns about money laundering and terrorist financing.
SEC Small-Issuer Proposal Draws Industry Attention
“No director wants the contents of his or her bank and trust accounts or … the loans extended to family member companies widely broadcast,” a banking group has told the Securities and Exchange Commission. Trade groups are paying close attention to one SEC proposal.
Dugan Defends Mortgage Guidance
Comptroller of the Currency John Dugan has defended the agencies’ proposed guidance on nontraditional mortgages.
Bank Not Liable for Officer’s Misuse of Confidential Data
Should a bank be liable when its employee makes personal use of confidential information obtained from a loan applicant? Ohio’s top court says no, but it was a close call.
April 17, 2006
Reich Sees Credit Quality Trouble Ahead
The banking industry may never have been healthier than it is now, but OTS director John Reich says now is the time to pay attention to credit quality.
Bankers Resist CRE Proposal
It’s unanimous. All of the major banking trade groups don’t like the agencies’ proposal to deal with concentrations of commercial real estate lending.
More IRS Reporting Proposed
The administration wants card processors to report payments to small businesses.
April 10, 2006
Dugan Eases CRE Concentration Warning
The regulators had proposed guidance on real estate lending that worried many banks. Now Comptroller of the Currency John Dugan has tried to ease those concerns.
FBI Opposes CRT Relief
The House approved a regulatory relief bill that includes reductions in the filing of currency transaction reports. But the FBI has told the Senate that is not a good idea.
Regulators Signal Interest in Consumer Disclosures
The federal bank supervisors will be taking a close look at consumer disclosures in the coming months, judging from recent speeches by regulators.
April 03, 2006
Industry Slams Nontraditional Mortgage Guidance
The regulators’ proposed guidance on nontraditional mortgage products has raised a number of serious worries for banks.
Wal-Mart Application Modified
Trying to improve its chances of getting an industrial loan corporation charter, Wal-Mart has modified its application with the FDIC.
Basel II Rules Proposed
After years of preparation, the agencies have proposed new regulations to govern the biggest banks’ capital standards. More changes are definitely in the works.
March 27, 2006
FACT Act Can Lead to ECOA Violations
Denying credit because of the presence of a fraud or active duty alert is unlawful discrimination under the Equal Credit Opportunity Act (ECOA), the FDIC says.
Group Questions Enactment of Deposit Insurance Law
Good grief! Can’t Congress get anything right? A political interest group is challenging the validity of Congressional passage of the spending bill that included the Deposit Insurance Reform Act of 2005 as one of its many titles.
