Latest News Tagged With “2013”

The Sub S Bank Report Volume 16 Issue 4

Jan 07, 2014

The Latest Edition of The Sub S Bank Report is Now Available for Registered Members Learn More About Section 336(3) Final Regulations, Upcoming and Past Subhcapter S Conferences, and S Corp Banks performance and dividend practice compared to C Corp Banks.  Read more

OCC Report Focuses on Risks Facing National Banks and Federal Savings Associations

Dec 19, 2013

National banks and federal savings associations continue to face a number of risks as they seek to improve profits in the face of slow economic growth and a prolonged low interest rate environment. Banks are layering risk back into the system in ways that are difficult to quantify at this point in the cycle. That is why risk management must remain a top priority according to the Office of the Comptroller of the Currency’s semiannual assessment of risk.  Read more

Agencies issue statement on supervisory approach for qualified and non-qualified mortgage loans

Dec 13, 2013

Four federal financial institution regulatory agencies today issued a statement to clarify safety-and-soundness expectations and Community Reinvestment Act (CRA) considerations related to Qualified Mortgage loans and non-Qualified Mortgage loans offered by regulated institutions.  Read more

Agencies Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements

Dec 13, 2013

Six federal financial regulatory agencies today issued a final rule that creates exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The exemptions are intended to save borrowers time and money while still ensuring that the loans are financially sound.  Read more

FinCEN, Federal Reserve Finalize Rule Amending Definitions in the Bank Secrecy Act

Dec 03, 2013

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, and the Federal Reserve Board on Tuesday announced a final rule amending the definitions of "funds transfer" and "transmittal of funds" under regulations implementing the Bank Secrecy Act. The final rule adopts the amendments as proposed in November 2012.  Read more

Increases in Dollar Thresholds in Regulations Z & M for Exempt Consumer Credit & Lease Transactions

Nov 20, 2013

The FRB and the CFPB today announced they are increasing the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. Transactions at or below the thresholds are subject to the protections of the regulations.  Read more

Regulatory Capital Estimation Tool for Community Banks

Nov 19, 2013

The federal bank regulatory agencies today released an estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios. The revised framework implements the Basel III regulatory capital reforms and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The estimation tool is available at: www.fdic.gov/regulations/capital/Bank_Estimation_Tool.xlsm  Read more

OCC Newsletter Focuses on Financing Business Development and Expansion in Rural America

Nov 18, 2013

The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments electronic newsletter entitled "Financing Business Development and Expansion in Rural America."  Read more

OCC Discusses Bank Secrecy Act

Nov 18, 2013

Comptroller of the Currency Thomas J. Curry told a conference on money laundering enforcement that the Bank Secrecy Act is a key element in the fight against illegal drugs and terrorism, and said meeting the challenges of the future will require increased diligence on the part of the industry and government alike.  Read more

Agencies Release Final Revisions to Community Reinvestment Act

Nov 15, 2013

The federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency Questions and Answers Regarding Community Reinvestment." The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies' CRA regulations.  Read more

OCC Newsletter Focuses on Public Welfare Investments in Wind Energy Projects

Nov 01, 2013

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published an online newsletter that provides information showing how national banks and federal savings associations can use public welfare investment authority to invest in wind energy projects. This Community Developments Investments newsletter, “Investing in Wind Energy Using the Public Welfare Investment Authority,” can be accessed on the OCC’s Web site at www.occ.gov.  Read more

The Sub S Bank Report Volume 16 Issue 3

Oct 31, 2013

The Latest Edition of The Sub S Bank Report is Now Available for Registered Members  Learn More About the S Corporation Modernization Act of 2013 (H.R. 892)  Read more

OCC and FDIC Propose Rule to Strengthen Liquidity Risk Management

Oct 30, 2013

The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) proposed a rule on Wednesday to strengthen the liquidity risk management of large banks and savings associations. The OCC and FDIC’s proposed liquidity rule is substantively the same as the proposal approved by the Board of Governors of the Federal Reserve System on October 24, 2013.  That proposal, which was developed collaboratively by the three agencies, is applicable to banking organizations with $250 billion or more in total consolidated assets; banking organizations with $10 billion or more in on-balance sheet foreign exposure; systemically important, nonbank financial institutions that do not have substantial insurance subsidiaries or substantial insurance operations; and bank and savings association subsidiaries thereof that have total consolidated assets of $10 billion or more (covered institutions).  The proposed rule does not apply to community banks.  Read more

Federal Regulators Provide Guidance on Qualified Mortgage Fair Lending Risks

Oct 23, 2013

Five federal regulatory agencies today issued a statement to address industry questions about fair lending risks associated with offering only Qualified Mortgages. Creditors have asked for clarity regarding whether the disparate impact doctrine of the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B, allows them to originate only Qualified Mortgages. For the reasons described in the statement, the five agencies do not anticipate that a creditor’s decision to offer only Qualified Mortgages would, absent other factors, elevate a supervised institution’s fair lending risk.  Read more

Patrick J. Kennedy Quoted in ‘Basel III Creating Headaches for S Corp Banks’

Oct 01, 2013

Patrick J. Kennedy, President of the Subchapter S Bank Association, was recently quoted in the American Banker Association's article, "Basel III Creating Headaches for S Corp Banks."  Read more