ABA's Center for Regulatory Compliance is your gateway to support for meeting the challenges of managing compliance risk. We provide direct access to regulatory expertise, up-to-date reports on agency initiatives, and the resources to assist you in keeping pace with the demands of supervisory oversight.
OCC to End Paper Distribution of Publications (2/3/12) The Office of the Comptroller of the Currency (OCC) by June 1 will stop printing and mailing most publications, including OCC alerts, bulletins, legal interpretations, consumer advisories and "Banking Regulations for Examiners," the agency announced on February 2. The OCC is encouraging national banks, federal savings associations and other interested parties to obtain publications and other information through www.occ.gov and the agency's other electronic dissemination tools.
FDIC Issues Revised Payment-Processor Guidance (2/1/12) The FDIC on January 31 issued revised guidance for payment-processor relationships. The guidance describes the potential risks – including money laundering and fraud – involving account relationships with third-party entities that process payments for telemarketers, online businesses and other merchants. The FDIC emphasized that such relationships require careful due diligence and monitoring. For compliance officers, it is important to note that the guidance seems to extend a worrisome theory that a bank can be held vicariously liable for the unfair or deceptive acts of practices of a customer as opposed to an agent.
Agencies Issue Guidance on Junior-Lien Loan Loss Allowances (2/1/12) The federal banking agencies and the National Credit Union Administration on January 31 issued supervisory guidance on allowance for loan and lease losses (ALLL) estimation practices associated with loans and lines of credit secured by junior liens on one- to four-family residential properties. More Compliance News
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