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Compliance Clips • May 24, 2024
Reminder: OFAC to Retire FTP Server
On June 9, 2023, the Office of Foreign Assets Control (OFAC) announced its plans to retire the FTP server on or about June 10, 2024. The FTP server is the…Read more -
Compliance Clips • May 20, 2024
FDIC Issues Guidance to Help Financial Institutions Respond to Areas in Iowa Impacted by April Storms
On April 26-27, a series of severe storms and tornados caused destruction in several Iowa communities. On May 14, the Federal Emergency Management Agency (FEMA) declared eight counties to be…Read more -
Compliance Clips • May 16, 2024
Supreme Court Decides in Favor of CFPB Funding
The Supreme Court issued a ruling earlier today (May 16th) rejecting a legal challenge to the Consumer Financial Protection Bureau’s funding mechanism. The justices ruled, by a vote of 7-2,…Read more -
Disclosure • May 1, 2024May 2024 Disclosure
Recently, the Philadelphia Federal Reserve Bank’s publication, Consumer Compliance Outlook, featured an article detailing top Federal Reserve compliance violations cited…Read more -
Compliance Clips • April 1, 2024
CRA Rule Implementation Paused by Courts
On Friday, March 29, a federal district court in Texas issued a preliminary injunction against the Federal Deposit Insurance Corp., Office of Comptroller of the Currency and Federal Reserve…Read more -
Compliance Publications • March 29, 2024April 2024 Disclosure
Suspicious Activity Reports are heavily relied upon by FinCEN, bank supervisory agencies and law enforcement. The decision of whether to…Read more -
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Compliance Clips • March 22, 2024
Agencies Delay April 1 Requirements of CRA Rule
Just a week before sections of the new CRA requirements were to go into effect, the FDIC, Office of the Comptroller of the Currency, and the Federal Reserve (collectively referred…Read more -
Compliance Clips • March 6, 2024
Start of Daylight Saving Time and TRID Disclosures
On March 10, 2024, the time changes from Standard Time to Daylight Saving Time (known as Central Daylight Time in Iowa). If you made the change to your system in…Read more