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CBA General Issues
Items about the Consumer Bankers Association and its initiatives, including CBA Advanced Education, CBA LIVE, CBA Team news and more.
- September 7, 2017On Thursday, September 7, 2017, the OCC issued the “ Foreword ” booklet of the Comptroller’s Handbook. The revised booklet replaces the booklet titled “Foreword” issued on May 6, 2013. This booklet describes the overall organization and format of the Comptroller’s Handbook and lists the booklet titles that compose the handbook. The list will change over time because the OCC periodically issues...September 7, 2017Square is expected to apply for an Industrial Loan Company (ILC) bank charter this week, according to American Banker and other sources. Like SoFi, who is busy trying to do the same thing, their attempt will also face competitive resistance. In June, Richard Hunt, president and CEO of the Consumer Bankers Association (CBA), told deBanked that in the case of SoFi, “The whole world is evolving,...September 7, 2017On Thursday, September 7, 2017, the OCC issued the “ Flood Disaster Protection Act ” booklet of the Comptroller’s Handbook. This revised booklet replaces a similarly titled booklet issued in May of 1999. The revised booklet provides information on changes to the flood insurance requirements resulting from recent amendments to the Flood Disaster Protection Act (FDPA) and the flood insurance...September 6, 2017On September 6, 2017, the OCC, Board of Governors of the Federal Reserve, FDIC, and state bank regulators recognize the serious impact of Hurricane Irma on the customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions in the affected areas to meet the financial services...September 6, 2017On Wednesday, September 6, 2017, the OCC, the Board of Governors of the Federal Reserve, the FDIC, and the National Credit Union Administration published additional frequently asked questions to assist financial institutions and examiners with the new accounting standard, Accounting Standards Update 2016-13, Topic 326, “Financial Instruments–Credit Losses,” issued by the Financial Accounting...September 5, 2017On Tuesday, September 5, 2017, the OCC issued a proclamation allowing national banks and federal savings associations affected by Hurricane Irma to close. In issuing the proclamation, the OCC expects that only those bank offices directly affected by the extreme weather will close. Those offices should make every effort to reopen as quickly as possible to address the banking needs of their...September 1, 2017On Friday, September 1, 2017, the OCC and the FDIC issued a notice of proposed rulemaking to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and FDIC-supervised institutions. The agencies note that the industry-wide standards established by the applicable securities and self-regulatory organizations’ rules for T+2 securities...September 1, 2017On Friday, September 1, 2017, the OCC issued the “ Change in Bank Control ” booklet of the Comptroller’s Licensing Manual. This booklet replaces one of the same title issued in January of 2007. The revised booklet incorporates updated procedures and requirements following the integration of the Office of Thrift Supervision (OTS) into the OCC in 2011 and the issuance of revised regulations (12 CFR...September 1, 2017On Friday, September 1, 2017, the Federal Reserve Board adopted a final rule to enhance financial stability by requiring U.S. global systemically important banking institutions (GSIBs) and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if the firm enters bankruptcy or a resolution process. The final rule contains...August 30, 2017On Wednesday, August 30, 2017, the Federal Reserve Board announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president and vice president of the council for 2018. Gilda M. Nogueira, President and Chief Executive Officer of East Cambridge Savings Bank, Cambridge, MA, will serve as CDIAC President in 2018. Christopher D. Maher, President and Chief...