Regulation / Compliance articles

Too Big to Regulate

Too Big to Regulate

With regulators providing little to no restraint, Wall Street megabanks still run wild, bullying the U.S. economy and financial system By Kelly Pike Three years after the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted, promising to end too-big-to-fail financial institutions and the taxpayer bailouts that saved them, surprisingly little, visibly tangible progress […]

Quest for QM Qualifications

ICBA seeks additional community bank accommodations in new mortgage regulations By Karen Thomas Despite important accommodations for community banks, new rules establishing minimum mortgage-lending underwriting standards nevertheless could leave many consumers without access to credit. The Consumer Financial Protection Bureau’s final rule establishing ability-to-repay requirements for mortgage loans structures a “qualified mortgage” (QM) standard as […]

Making Smarter Mortgage Rules

The Consumer Financial Protection Bureau’s ability-to-pay regulations include much-needed breaks By Karen Thomas After months of ICBA advocacy for a new approach to mortgage regulations that recognizes the unique role of community banks, new Consumer Financial Protection Bureau rules have made important accommodations for the industry. In recently released final rules requiring mortgage lenders to […]

FDIC Data Show Industry Improvements Continue

FDIC Data Show Industry Improvements Continue By Ryan Hadley The performance of FDIC-insured commercial banks and savings institutions continued to improve in the third quarter of 2012 with the highest quarterly net income since the third quarter of 2006. Slower to realize the gains made by larger institutions, community bank profitability continues to improve even […]

Structural Changes to the Bank Secrecy Act

ICBA’s Regulatory Outlook for 2013 By Lilly Thomas With the appointment of new Financial Crimes Enforcement Network Director Jennifer Shasky Calvery, community banks should expect to see the agency work to reduce the redundancies and inefficiencies in the anti-money-laundering and anti-terrorist-financing regulatory framework. The agency already has formed an interagency task force to review the […]

Remittance Rule Adjustments

ICBA’s Regulatory Outlook for 2013 By L. Cary Whaley III While the Consumer Financial Protection Bureau has taken steps to address ICBA concerns with its rule on remittance transfers, expect the association to continue advocating on the issue in the year to come. Following ICBA outreach to the bureau, the CFPB released plans to adjust […]

Overdraft Protection Requirements

ICBA’s Regulatory Outlook for 2013 By Elizabeth Eurgubian Following extensive activity related to overdraft protection by the prudential bank regulators in recent years, the CFPB has taken up the issue and is expected to continue releasing regulations in 2013. In 2011, the FDIC published final guidance on overdraft services while the Office of the Comptroller […]

Farm Credit Administration Hubris

ICBA’s Regulatory Outlook for 2013 By Mark Scanlan The recent actions of the Farm Credit Administration (FCA), the Farm Credit System’s (FCS) captive regulator, bring to mind the famous quote by Sir Walter Scott—“Oh what a tangled web we weave, when first we practice to deceive!” Ever since ICBA and community bankers stopped the self-serving […]

Evolving Fair Lending Interpretations

ICBA’s Regulatory Outlook for 2013 By Lilly Thomas Community bankers have already begun to see their regulators pay close attention to fair lending enforcement, and we expect this trend to continue in 2013. Community banks will likely continue to experience rigorous fair lending exams in the coming year with longer examinations and changes in statistical […]