Regulatory News – 12/5/2023

On November 28, the Fed announced the termination of enforcement action against Hazard Bancorp and Peoples Bank and Trust Company of Hazard, Kentucky requiring them to strengthen board oversight of the banks’ management and operations. On December 1, The Fed released...

Regulatory News – 11/27/2023

On November 22, Federal bank regulatory agencies announced that they have extended the comment period for their proposed rule to require large banks to maintain long-term debt from November 30, to January 16, 2024. The extension is to allow interested parties more...

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...