🏦Federal Reserve Notice on Bank Holding Companies and Mergers
The Federal Reserve System issues a notice regarding the applications for bank holding company formations, acquisitions, and mergers. The notice invites public comments on the applications, emphasizing transparency and compliance with the Bank Holding Company Act and related regulations. Applications are available for public inspection, providing insights into ongoing banking transactions.
Learn More💰FDIC's Notice on Termination of Receiverships - Business Implications
The FDIC announced its intention to terminate receiverships for specific banks following completed asset liquidation. Proven creditors will receive final dividends as a result, and public comments are invited regarding this termination, providing a significant closure for affected stakeholders in the banking sector.
Learn More⚖️CFPB Proposed Rule
The Consumer Financial Protection Bureau (Bureau) is proposing to rescind the amendments it adopted to the Rules of Practice for Adjudication Proceedings (Rules of Practice) on February 22, 2022, and March 29, 2023.
Learn More🏦Federal Reserve Notice on Bank Holding Companies Regulation
The Federal Reserve notice discusses applications for bank holding company formations, acquisitions, and mergers under the Bank Holding Company Act. It outlines the public's right to comment and specifies the procedural requirements for approval, emphasizing transparency and public disclosure in the regulatory process.
Learn More💳USPS Privacy Act Changes and Their Impact on Business Compliance
The United States Postal Service (USPS) is proposing to revise a Customer Privacy Act System of Records (SOR), in order to enhance the flexibility needed to support ongoing administrative and compliance activities for the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) requirements and standards, as determined by the Financial Crimes Enforcement Network (FinCEN).
Learn More🏦Change in Bank Control Notices
The Federal Reserve System announces changes in the bank control notices regarding acquisitions of shares in banks and bank holding companies. The public is invited to comment on these applications, which are governed by specific regulatory frameworks. This notice emphasizes transparency and compliance requirements for interested parties in financial acquisitions.
Learn More📊Federal Reserve Notice on Nonbanking Activity Proposals
The Federal Reserve System has issued a notice regarding proposals by companies wishing to engage in or acquire nonbanking activities. This notice is open for public comment and includes details about compliance under the Bank Holding Company Act and Regulation Y, affecting business operations across the United States.
Learn More🔒Proposed FinCEN Regulations on Huione Group's Money Laundering Risks
FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, that proposes prohibiting the opening or maintaining of a correspondent account in the United States for, or on behalf of, Huione Group, a foreign financial institution based in Cambodia found to be of primary money laundering concern. The NPRM also would require covered financial institutions to apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Huione Group.
Learn More📊Proposed Agency Information Collection Activities - Comment Request
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to extend for three years, without revision, the Market Risk Regulatory Report for Institutions Subject to the Market Risk Capital Rule (FFIEC 102), which is currently an approved collection of information for each agency. At the end of the comment period for this notice the FFIEC and the agencies will review any comments received to determine whether to modify the proposal in response to comments. As required by the PRA, the agencies will then publish a second Federal Register notice for a 30-day comment period and submit the final FFIEC 102 to OMB for review and approval.
Learn More🏦Proposed Changes to Regulation CC
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Recordkeeping and Disclosure Requirements Associated with Regulation CC (FR CC; OMB No. 7100-0235).
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