Regulatory News – 11/20/2023

On November 13, The Fed, OCC, and CFPB announced dollar thresholds for smaller loan exemption from appraisal requirements for higher-priced mortgage loans and dollar thresholds for the applicability of truth in lending and consumer leasing rules for consumer credit...

Regulatory News- 11/13/2023

On November 3, The FDIC announced that Citizens Bank of Sac City, Iowa was closed making it the fifth bank to fail in 2023. As of September 30, 2023, Citizens Bank had approximately $66 million in total assets and $59 million in total deposits. Iowa Trust and Savings...

Regulatory News – 11/7/2023

On November 1, The OCC announced that it is issuing a bulletin to provide banks with guidance regarding commercial loans to early-, expansion-, and late-stage companies (venture loans) due to heightened uncertainty and probability of failure. The OCC expects banks to...

Regulatory News – Edition 2

On October 19. The Fed terminated a Cease and Desist Order against Citibank issued May 20, 2015 related to deficient policies and procedures that prevented Citigroup from detecting and addressing unsafe and unsound conduct by the Bank’s FX sales personnel. On October...