Latest Compliance News

SUNSHINE ACT NOTICE The FDIC Board of Directors will meet in open session: Date and Time: Tuesday, May 20, 2025, at 2:30 p.m. Place:  The Board meeting will be open to public observation by webcast . Members of the media should contact the Office of Communications by Monday, May 19, at [email protected] to attend in person from FDIC Headquarters, 550 17th Street, NW, Washington, DC. Read Notice & Agenda The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe . STAY CONNECTED

The CFPB is announcing that it will not prioritize enforcement actions taken on the basis of the Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 Fed. Reg. 47,068 (May 31, 2024) (“Buy Now, Pay Later”).

The CFPB is announcing that it will not prioritize enforcement or supervision actions with regard to entities that are currently outside the stay imposed under Texas Bankers Association v. CFPB, No. 24-40705 (CA5).

The Consumer Financial Protection Bureau will not prioritize enforcement or supervision actions for entities that do not satisfy future deadlines to submit registration information under the regulation titled "Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders".

The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy.

The Bureau will keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans.

PRESS RELEASE | MARCH 3, 2025 FDIC Board of Directors Withdraws Four Outstanding Proposed Rules WASHINGTON – The Federal Deposit Insurance Corporation’s (FDIC) Board of Directors today approved the withdrawal of three outstanding proposed rules relating to brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA).  The FDIC is also withdrawing authority for staff to publish in the Federal Register a proposed rule related to incentive-based compensation arrangements. The brokered deposits proposal was published in the Federal Register on August 23, 2024 and would have significantly disrupted many aspects of the deposit landscape. The corporate governance proposal was published in the Federal Register on October 11, 2023 and would have created a number of overly prescriptive and process-oriented expectations for management and boards of directors of FDIC-supervised institutions with $10 billion or more in total consolidated assets. The proposal related to the CBCA was published in the Federal Register on August 19, 2024 and would have removed an exemption from the requirement to submit a notice to the FDIC for an acquisition of voting securities of a depository institution holding company for which the Federal Reserve reviews a CBCA notice. The proposal related to incentive-based compensation arrangements was approved by the FDIC Board on May 3, 2024, but was never published in the Federal Register . If the FDIC pursues regulatory action on these matters in the future, it will do so by publishing new proposals or other issuances consistent with the Administrative Procedure Act. ATTACHMENTS: Federal Register Notice Financial Institution Letter ### MEDIA CONTACT:  [email protected] The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe . STAY CONNECTED

PRESS RELEASE | MARCH 3, 2025 FDIC Board of Directors Approves Delay of Compliance Date For Certain Provisions in Sign and Advertising Rule WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today delayed the compliance date of certain provisions under the FDIC’s Sign and Advertising Rule.  Specifically, the delay applies to requirements related to the display of the FDIC’s official sign on insured depository institutions’ (IDIs) digital channels, as well as to provisions related to IDIs’ automated teller machines (ATMs) and like devices. On December 20, 2023, the FDIC adopted a final rule that amended the FDIC’s signage and advertisement requirements for IDIs. Full compliance with these amendments was scheduled to take effect on May 1, 2025. Today’s Board action postpones the compliance date for sections 328.4 and 328.5 of the rule to March 1, 2026.  The FDIC plans to use the additional time to propose adjustments to the regulation. Consistent with Section 18 of the FDI Act, the FDIC will continue to promote proper disclosure of FDIC insurance.  However, the new requirements to display the FDIC official digital sign continue to generate questions regarding implementation, and may result in consumer confusion.  The remaining provisions in the rule will still take effect on May 1, 2025. ATTACHMENTS: Federal Register Notice Financial Institution Letter ### MEDIA CONTACT:  [email protected] The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe . STAY CONNECTED

PRESS RELEASE | MARCH 3, 2025 FDIC Board of Directors Approves Proposal to Rescind 2024 Bank Merger Policy Statement WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a proposal to rescind the agency’s 2024 Statement of Policy on Bank Merger Transactions . The FDIC’s proposal will reinstate, on an interim basis, the Merger Policy Statement that was in effect prior to 2024 as the agency conducts a broader reevaluation of its bank merger review process. The proposal approved today seeks to address concerns the 2024 Statement added considerable uncertainty to the merger application process.  While the FDIC considers broader revisions to its merger policy, the FDIC is proposing to return to its historical approach, which is well-understood by market participants.  Interested parties may submit written comments on this proposal up until 30 days after publication in the Federal Register . ATTACHMENTS: Federal Register Notice Financial Institution Letter ### MEDIA CONTACT:  [email protected] The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe . STAY CONNECTED

On January 31, 2025, President Trump designated Secretary of the Treasury Scott Bessent as Acting Director of the Consumer Financial Protection Bureau (CFPB).

The CFPB ordered the international remittance company Wise to pay nearly $2.5 million for a series of illegal actions.

Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies.

The CFPB published a report showing that U.S. servicemembers pay higher costs and face greater financial risks when taking out credit to buy a car.

A letter written by Seth Frotman, CFPB General Counsel, to the Representative John J. Lawn, Jr. and the Senator John J. Cronin of the Massachusetts State Legislature.

A letter written by Seth Frotman, CFPB General Counsel, to Representative Brian Mulder of the South Dakota State Legislature.

A letter written by Seth Frotman, CFPB General Counsel, to Senator Wlnsvey Campos and the Representative Nathan Sosa of the Oregon State Legislature.

A letter written by Seth Frotman, CFPB General Counsel, to Senator Marcus Riccelli and Representative Joe Timmons of the Washington State Legislature.

Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024.

Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers.

The CFPB published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels.

The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.

The CFPB is finalizing a rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical information.

The Bureau is adjusting for inflation the maximum amount of each civil penalty within the Bureau’s jurisdiction.