Top Community Banking Brief Compliance Regulation Content for November, 2024

AI Regulations for Financial Services: Japan

Perficient

NOVEMBER 19, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

Regulation

Regulation Guidelines System Compliance

How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Abrigo

NOVEMBER 14, 2024

These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective. Key strategies to prevent BSA enforcement actions To prevent BSA enforcement actions, banks must prioritize proactive compliance measures.

Compliance

Compliance How To Training Software

Fraud and AML integration: Is the FRAML approach right for your financial institution?

Abrigo

NOVEMBER 22, 2024

Institutions using FRAML often find themselves better positioned to identify suspicious activities linking fraud and money laundering, potentially reducing compliance costs while improving outcomes. However, institutions must be cautious to ensure compliance requirements for fraud and AML aren’t compromised.

Fraud

Fraud Training Risk Management Compliance

Webinars

Book of Secrets on the Month-End Close

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1033 Open Banking Mandate Blueprint for Success

Perficient

NOVEMBER 21, 2024

The first compliance deadline of April 1, 2026, impacts the largest organizations. The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024. Compliance deadlines follow a staggered rollout based on total assets. Ready to explore your firm’s compliance with Rule 1033?

Compliance

Compliance Data Cards Meeting

Chase and other megabanks aren't — and never will be — community banks

American Banker

NOVEMBER 27, 2024

"Too big to fail" banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, local bankers with deep ties to their customers.

Community Bank

Community Bank Community Policies Compliance

The US should look to Brazil as a model for rolling out open banking

American Banker

NOVEMBER 28, 2024

is well behind other countries in implementing open banking and delivering its benefits to customers. Brazil's success in that area can serve as a useful model.

US

US Policies Data Compliance

NCUA has a regulatory blind spot; Congress must act to eliminate it

American Banker

NOVEMBER 26, 2024

The National Credit Union Administration lacks the authority to regulate third-party vendors that supply vital services to the industry. This creates a major risk to credit union customers and the broader U.S. economy.

National

National Regulation Industry Cyber Security

FDIC chair Martin Gruenberg to step down in January

American Banker

NOVEMBER 19, 2024

Gruenberg, the Federal Deposit Insurance Corp.'s s longest-serving board member, will step down in January, marking the end of an era after nearly 20 years on the agency's board of directors.

FDIC

FDIC Compliance Regulation

Private credit markets are a $1.7 trillion ticking time bomb

American Banker

NOVEMBER 18, 2024

Huge portfolios of outstanding private credit, issued by lenders completely free of banklike supervision and safety and soundness requirements, are almost certainly of lower quality than banks' loan portfolios. If they implode, the damage could be extensive.

Marketing

Marketing Risk Management Policies Management

America's smallest and largest community bank: $3 million vs. $3 trillion

American Banker

NOVEMBER 11, 2024

Other big banks should take notice and follow suit, and regulators should encourage them. With plans to open 100 banking centers in "banking deserts," the $3 trillion JPMorgan Chase is arguably the nation's largest community bank.

Community Bank

Community Bank Community America National

Why do US banks persist in breaching AML regulations?

American Banker

NOVEMBER 6, 2024

An uptick in fines associated with anti-money-laundering failures demonstrates that U.S. banks still have much work to do in terms of optimizing their internal systems to identify and stop the flow of dirty money.

Regulation

Regulation US System Compliance

Punishing workers who send remittances overseas is bad policy

American Banker

NOVEMBER 22, 2024

A punitive tax on payments sent overseas to the families of immigrants would have a cascading set of consequences — all of them bad.

Policies

Policies Taxes Payments Compliance

Swipe fees get renewed Washington focus in aftermath of election

American Banker

NOVEMBER 12, 2024

Senate Majority Whip Dick Durbin, D-Ill., has scheduled a hearing on swipe fees for Nov. 19, but executives from Visa and Mastercard aren't among the confirmed witnesses for the lame duck hearing.

Washington

Washington Compliance Regulation Payments

Fintechs need to be more proactive about regulatory compliance

American Banker

NOVEMBER 7, 2024

The Synapse failure and recent enforcement actions make it clear that fintechs need to up their regulatory compliance game. At the same time, they have an opportunity to help shape future rules.

Compliance

Compliance Fintech Policies Regulation

FedNow saw $17.5 billion of transactions last quarter

American Banker

NOVEMBER 22, 2024

The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.

Payments

Payments Compliance Regulation

To regulate cryptocurrencies, treat the tech as a tool, not a threat

American Banker

NOVEMBER 4, 2024

Decentralized digital ledgers offer financial services supervisors extraordinary access to information while eliminating concerns about information reliability. That should be reflected in regulatory attitudes toward crypto.

cryptocurrency

cryptocurrency Tools Regulation Policies

CFPB finalizes rule to supervise some Big Tech firms

American Banker

NOVEMBER 21, 2024

The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.

Payments

Payments Analysis Compliance Regulation

Fed report: CRE loans, governance among top risks

American Banker

NOVEMBER 15, 2024

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

Report

Report Regulation Policies Compliance

CFPB and DOJ have badly overreached in the Fairway redlining case

American Banker

NOVEMBER 4, 2024

It is nonsensical for the government to sue one of the leading lenders in an underserved minority community as a means of encouraging more lending in that community.

Community

Community Lending Policies Compliance

Don't fix what isn't broken at the Federal Home Loan banks

American Banker

NOVEMBER 1, 2024

The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.

Community Bank

Community Bank Community Compliance Regulation

USAA missteps, CFPB's last hurrah: Top banking news November 2024

American Banker

NOVEMBER 27, 2024

November's roundup includes consumer doubts plaguing the reputation of USAA, reviews of the Consumer Financial Protection Bureau's actions and more.

Policies

Policies Industry Compliance Regulation

SEC charges ex-Fed examiner with insider trading

American Banker

NOVEMBER 18, 2024

The Securities and Exchange Commission accused a former supervisor with the Federal Reserve Bank of Richmond of trading New York Community Bank and Capital One stock based on material nonpublic information.

New York

New York Community Bank Community Capital

Regulators should stop trying to 'whack' so-called junk fees

American Banker

NOVEMBER 13, 2024

Bank fees don't arise from a naked profit-grab, but from an effort to offset current or expected losses. Eliminating one kind of fee just pushes banks to find an alternative method of recouping those losses.

Regulation

Regulation Policies Cards Compliance

'Fundamental breakdown': How USAA landed in regulators' hot seat

American Banker

NOVEMBER 21, 2024

Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.

Regulation

Regulation Compliance

The CFPB's 'open banking' rule is a solution in search of a problem

American Banker

NOVEMBER 20, 2024

Banks solved the issue of consumer data sharing years ago. Why is the Consumer Financial Protection Bureau stepping in now, with a rule that could make sharing data less safe and secure?

Data

Data Security Policies Compliance

The US is badly behind the curve on access to the payments system

American Banker

NOVEMBER 19, 2024

It's past time for regulations to catch up with clear consumer preferences. is alone among G7 nations in not allowing nonbanks direct access to vital central bank payments rails.

System

System Payments US National

TD Bank's next CEO faces unique challenges after AML revelations

American Banker

NOVEMBER 15, 2024

The bank's U.S. operations will be closely monitored during a yearslong probationary period, during which any sign of backsliding could trigger swift punitive action.

Operations

Operations Compliance Regulation

Comerica sues CFPB over investigation into prepaid card program

American Banker

NOVEMBER 13, 2024

The Dallas-based bank is accusing the Consumer Financial Protection Bureau of "pursuing an aggressive and overreaching investigation" into its role in a Treasury Department prepaid card program.

Dallas

Dallas Cards Compliance Regulation

After Okla. bank failure, Chopra calls for expanded deposit insurance

American Banker

NOVEMBER 18, 2024

Consumer Financial Protection Bureau director Rohit Chopra said it is "fundamentally unfair" that uninsured depositors at Silicon Valley Bank and Signature Bank got a reprieve from regulators while those at First National Bank of Lindsay did not.

National

National Regulation Policies Compliance

Bank regulators have concepts of a plan to deal with AI

American Banker

NOVEMBER 26, 2024

In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.

Regulation

Regulation Policies Compliance

Yes, simpler, higher capital requirements are a better capital rule

American Banker

NOVEMBER 12, 2024

Every time we revise bank capital rules, we uncover new flaws that leave banks unprepared for unexpected stress events.

Capital

Capital Risk Management Policies Management

CFPB's Chopra: AI can be the key to fairer credit scoring

American Banker

NOVEMBER 21, 2024

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Marketing

Marketing Compliance Regulation

Kansas banks runs afoul of money laundering standards again

American Banker

NOVEMBER 19, 2024

Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.

Kansas

Kansas Compliance Regulation

Judge approves TD Bank plea deal, including five years of probation

American Banker

NOVEMBER 7, 2024

The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. "We We have the ability to profit, and we should be able to profit, but not at the expense of the law," said U.S. District Judge Esther Salas.

System

System Industry Compliance Regulation

Canadian regulators launch review of sales practices in bank branches

American Banker

NOVEMBER 27, 2024

The inquiry by securities regulators came in response to reporting that bank employees pushed products in ways that misled customers as they sought to meet their sales targets.

Regulation

Regulation Meeting Security Report

Fed: Elevated asset valuations could threaten financial stability

American Banker

NOVEMBER 22, 2024

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

System

System Report Policies Compliance

Bank executives must manage culture risk, Canada regulator says

American Banker

NOVEMBER 22, 2024

Canada's banking regulator is beefing up its rules on corporate culture, saying that it expects executives and boards to be accountable.

Regulation

Regulation Management Compliance

Ex-CEO of failed Kansas bank banned from banking

American Banker

NOVEMBER 21, 2024

The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.

Kansas

Kansas Community Bank cryptocurrency Community

Co-founder of small California bank gets banned from the industry

American Banker

NOVEMBER 12, 2024

Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.

California

California Industry Community Bank Community

Fed's Waller: SCOTUS rulings should delay interchange rule

American Banker

NOVEMBER 12, 2024

The Federal Reserve Board's top payments official said the agency should not move forward with its push to lower the cap on debit interchange fees until it has a better understanding of recent Supreme Court decisions.

Payments

Payments Policies Compliance Regulation

FDIC says banking access grows, yet racial disparities remain

American Banker

NOVEMBER 12, 2024

The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.

FDIC

FDIC Survey National Mobile

How one industry group is challenging the CFPB's BNPL rule

American Banker

NOVEMBER 4, 2024

The Consumer Financial Protection Bureau will soon have to defend its interpretive buy now/pay later rule in court following an industry advocacy group lawsuit. Here's what's at stake.

Groups

Groups Industry Compliance Regulation

The bank lobby's anti credit union claims ring hollow

American Banker

NOVEMBER 11, 2024

Credit unions don't enjoy an unfair advantage. What they do is reinvest in their members and their communities in a way banks often do not.

Community

Community Policies Compliance Regulation

Banks' gripes with big credit unions are gaining momentum

American Banker

NOVEMBER 5, 2024

Consumer groups and banks are pushing for increased regulation on credit unions, aligning on concerns over tax exemptions, consumer protection standards, and the rising trend of credit union acquisitions of community banks.

Community Bank

Community Bank Taxes Community Regulation

November, 2024

AI Regulations for Financial Services: Japan

How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Webinars

Trending Sources

Fraud and AML integration: Is the FRAML approach right for your financial institution?

Webinars

1033 Open Banking Mandate Blueprint for Success

Chase and other megabanks aren't — and never will be — community banks

The US should look to Brazil as a model for rolling out open banking

NCUA has a regulatory blind spot; Congress must act to eliminate it

FDIC chair Martin Gruenberg to step down in January

Private credit markets are a $1.7 trillion ticking time bomb

America's smallest and largest community bank: $3 million vs. $3 trillion

Why do US banks persist in breaching AML regulations?

Punishing workers who send remittances overseas is bad policy

Swipe fees get renewed Washington focus in aftermath of election

Fintechs need to be more proactive about regulatory compliance

FedNow saw $17.5 billion of transactions last quarter

To regulate cryptocurrencies, treat the tech as a tool, not a threat

CFPB finalizes rule to supervise some Big Tech firms

Fed report: CRE loans, governance among top risks

CFPB and DOJ have badly overreached in the Fairway redlining case

Don't fix what isn't broken at the Federal Home Loan banks

USAA missteps, CFPB's last hurrah: Top banking news November 2024

SEC charges ex-Fed examiner with insider trading

Regulators should stop trying to 'whack' so-called junk fees

'Fundamental breakdown': How USAA landed in regulators' hot seat

The CFPB's 'open banking' rule is a solution in search of a problem

The US is badly behind the curve on access to the payments system

TD Bank's next CEO faces unique challenges after AML revelations

Comerica sues CFPB over investigation into prepaid card program

After Okla. bank failure, Chopra calls for expanded deposit insurance

Bank regulators have concepts of a plan to deal with AI

Yes, simpler, higher capital requirements are a better capital rule

CFPB's Chopra: AI can be the key to fairer credit scoring

Kansas banks runs afoul of money laundering standards again

Judge approves TD Bank plea deal, including five years of probation

Canadian regulators launch review of sales practices in bank branches

Fed: Elevated asset valuations could threaten financial stability

Bank executives must manage culture risk, Canada regulator says

Ex-CEO of failed Kansas bank banned from banking

Co-founder of small California bank gets banned from the industry

Fed's Waller: SCOTUS rulings should delay interchange rule

FDIC says banking access grows, yet racial disparities remain

How one industry group is challenging the CFPB's BNPL rule

The bank lobby's anti credit union claims ring hollow

Banks' gripes with big credit unions are gaining momentum

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