Today, the Office of the Comptroller of the Currency (“OCC”) released its Bank Supervision Operating Plan for 2019. Included in its plan, the OCC highlights five priorities and objectives for ...
The Federal Reserve Board (“Board”) issued a final rule amending Subpart C of Regulation CC relative to the liability provisions for check disputes, specifically disputes regarding whether a check has ...
The Give Useful Information to Define Effective Compliance Act, for short the GUIDE Compliance Act, passed the House Financial Services Committee on September 13, 2018. A companion bill was introduced ...
NACHA has approved three new same-day ACH rules that will expand capabilities for financial institutions. First, NACHA approved expanded access to same-day ACH by allowing these transactions to be submitted ...
On September 6, 2018, the Bureau of Consumer Financial Protection (CFPB) released its 17th edition of its Supervisory Highlights. This report outlines observations regarding auto loan servicing, credit card account ...
On September 7, 2018, the Financial Crimes Enforcement Network (FinCEN) granted exceptive relief from the beneficial owner rule’s requirements to identify and verify the beneficial ownership of the legal entity ...
The IRS posted the 2018 Instructions Forms 1099-R and the Form 5498, IRA Contributions Information, which made modifications to the following: Box 13a that was previously labeled “Postponed contribution” has ...
On August 10, 2018, the Bureau of Consumer Financial Protection (“CFPB”) issued a final rule amending Regulation P, which requires financial institutions to send annual privacy notices to their customers. ...
In May, the Financial Crimes Enforcement Network (FinCEN) issued an administrative ruling providing a 90-day exemption from the requirements of the Beneficial Ownership Rule for certain products and services that ...
On July 11, 2018, the SIMPLE Plan Modernization Act (S.3197) was introduced by a bi-partisan effort to promote savings on behalf of small business employees by improving SIMPLE retirement accounts ...