The Consumer Financial Protection Bureau (CFPB)
CFPB Plans to Enhance Consumer Complaint Database
The Consumer Financial Protection Bureau announced it would continue to publish consumer complaints and that it would enhance the information that’s available to those who use the database. The CFPB will also improve the database itself, including dynamic visualization tools on more recent complaints.
Office of the Comptroller of Currency (OCC)
OCC to Hold Compliance and Operational Risk Workshops in LA
The Office of the Comptroller of the Currency will hold two workshops in Los Angeles on October 22 and 23. The workshops, held at the Federal Reserve Bank of Los Angeles, will be for national community bank and federal saving association directors. The workshops will focus on compliance, risks, and major regulations.
Securities and Exchange Commission (SEC)
SEC to Update Statistical Disclosures
The Securities and Exchange Commission announced that it had proposed rule changes to update the statistical disclosures that some institutions must provide to investors. The changes would get rid of some disclosures, eliminating overlap with some SEC rules.
Once published in the Federal Register, there will be a sixty-day public comment period.
The Federal Deposit Insurance Company (FDIC)
FDIC Releases Annual Survey Results
The Federal Deposit Insurance Committee announced the results of its annual branch office deposits survey. The survey included all FDIC-insured institutions as of June 30, 2019. The Summary of Deposits survey includes data that goes as far back as 1994. The survey collects deposit totals for thousands of institutions in the US.
National Credit Union Administration (NCUA)
NCUA Approves Three Final Rules
The National Credit Union Administration approved three final rules during its eighth 2019 open meeting. The NCUA approved the following:
- Federal credit unions can offer additional alternative payday loans
- Clarification of regulations regarding credit union supervisory committee audits and audit process flexibility
- Finalization and simplification of federal credit union bylaws