Agencies release final revisions to interagency Q&A on community reinvestment. The OCC announced that federal bank regulatory agencies with responsibility for Community Reinvestment Act rulemaking published final revisions to “Interagency Questions and Answers Regarding Community Reinvestment,” providing additional guidance to financial institutions and the public on the agencies’ CRA regulations. (7/15/2016)

OCC is hosting a Mutual Savings Association Advisory Committee meeting. The OCC announced that it will host a public meeting of the Mutual Savings Association Advisory Committee on August 3, 2016, beginning at 1:00 p.m. Eastern Daylight Time at the OCC office, 400 7th Street, SW, Washington, DC 20219. The purpose of the meeting is to advise the OCC on regulatory changes or other steps the OCC may be able to take to ensure the continued health and viability of mutual savings associations and other issues of concern to mutual savings associations. (7/13/2016)

OCC to host workshops on risk governance and credit workshops in Kansas City. The OCC announced that it is hosting two workshops in Kansas City, Missouri, at the Westin Kansas City at Crown Center, August 16­17, for directors of national community banks and federal savings associations supervised by the OCC. The Risk Governance workshop will be held on August 16th and the Credit Risk workshop will be held on August 17th. (7/13/2016)

Federal Reserve

Board extends comment period for ANPR detailing conceptual frameworks for capital standards. The Federal Reserve Board announced that it has extended the comment period for the advanced notice of proposed rulemaking (ANPR) detailing conceptual frameworks for capital standards that could apply to systemically important insurance companies and to insurance companies that own a bank or thrift. Comments that were initially due by August 17, 2016, are now due by September 16, 2016. (7/25/2016)

Board adopts changes to part II of Federal Reserve Policy on PSR. The Board announced that it has adopted changes to part II of the Federal Reserve Policy on Payment System Risk (PSR) to conform with enhancements to the Reserve Banks’ same­day automated clearing house (ACH) service that the Board previously announced on September 23, 2015. The Board adopted a second posting time for forward same­day ACH transactions at 1pm EST to supplement the current 5pm EST posting time for forward same­day ACH transactions. The Board also established that all returns of future­dated and same­day ACH transactions will post at the next available posting time or following the settlement of the associated forward transactions. The PSR policy changes become effective September 23, 2016, concurrent with the Reserve Banks’ enhanced same­day ACH service. (7/21/2016) Federal Register notice.


Director Cordray gives speech on National Financial Capability Study release. CFPB Director Richard Cordray delivered a speech on the FINRA Foundation National Financial Capability Study release. (7/12/2016)