Compliance & Regulation

The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

With historic barriers of systemic discrimination, predatory lending and wealth inequities to overcome, change will take time, but leaders from National Association of Real Estate Brokers and other groups propose lenders take these steps now.

The operating environment is dramatically different than it was pre-pandemic and presents all-new challenges for financial institutions. Tried-and-true strategies that led to high performance for many years are no longer going to be successful. Join Bonnie McGeer, Executive Editor of American Banker, and Claude Hanley, Partner at Capital Performance Group, as they highlight important trends and comb through data from top-performing banks across the country for insights that will help regional and community financial institutions thrive in 2021. Executives will learn what metrics will be most critical to focus on to maintain high performance going forward.

State financial regulators cited Buffalo-based Hunt Mortgage Corp. on Thursday for weakness in lending to minorities and minority neighborhoods, as they released a report finding an overall lack of lending by nonbank mortgage companies in Buffalo despite laws banning the practice of redlining.

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

A growing number of states have chosen to decriminalize or legalize cannabis in recent years. As a result, the legal cannabis industry has experienced exponential growth. Yet banks and other financial institutions are still largely reluctant to partner with cannabis firms due to the lingering conflict between state and federal law. In this episode we will explore: (1) how financial institutions can navigate the regulatory, compliance, and operational challenges facing this sector; and (2) the steps the Biden Administration may take to improve the environment for banking this industry.

A federal judge denied the Office of the Comptroller of the Currency's motion to have the case thrown out, saying concerns about the agency's rulemaking process to reform the Community Reinvestment Act have merit.

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.