On Sept. 25, 2019, the U.S. House of Representatives passed the SAFE Banking Act bill (H.R. 1595) by a margin of 321-103. Almost all Democrats supported the bill along with almost half of the Republicans. The bill provides a safe harbor to financial ...

On Sept. 23, 2019, the Federal Deposit Insurance Corporation’s (FDIC) Office of the Ombudsman published its 2018 Annual Report. The Ombudsman Office serves as part of an alternative dispute resolution process and this is the first public report it ...

Core system conversions can be one of the most-costly activities a financial institution undertakes. It’s a strategic decision that involves both cash expenditures and dedicated time from some of the organization’s most capable personnel. Given t...

On Sept. 19, 2019, the National Credit Union Administration (NCUA) issued a final rule providing credit unions with more payday alternative loan options. The 49-page final rule, known as PALs II, is not replacing the existing payday alternative loan ...

On Sept. 18, 2019, the Consumer Financial Protection Bureau (CFPB) announced enhancements to its Consumer Complaints Database (CCD). Outlined below are the enhancements made to the database. Highlighting the availability of answers to common financia...

At least one National Credit Union Administration (NCUA) Board Member supports more thorough credit union compliance exams by NCUA examiners. In a speech on Sept. 10, 2019, at the Women in Housing and Finance Policy Lunch, NCUA Board Member Todd M. H...

Continuing a trend set by the Financial Crimes Enforcement Network (FinCEN), the Consumer Financial Protection Bureau (CFPB) is promoting the use of innovation to facilitate compliance.  On Sept. 10, 2019, the CFPB announced it issued the following ...

On September 4, 2019, the Federal Trade Commission (FTC) announced a record $170 million penalty as part of a settlement with Google and its subsidiary YouTube for violations of the Children’s Online Privacy Protection Act (COPPA). This is a good r...