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Colorado Bankers Association
Regulatory Register
March, 2017
Agencies Finalize Rule on CRA.
The Federal Deposit Insurance Corporation
(FDIC), Board of Governors of the Federal
Reserve System (FRB), and Office of the
Comptroller of the Currency (OCC) are
amending their Community Reinvestment Act
(CRA) regulations to adjust the asset-size
thresholds used to define small bank or small
savings association and intermediate small bank Agencies Extend Comment Period on Enhanced
or intermediate small savings association. The Cyber Risk Management Standards.
adjustment to the threshold amount is based on
the annual percentage change in the Consumer The Federal Deposit Insurance Corporation
Price Index for Urban Wage Earners and (FDIC), The Board of Governors of the Federal
Clerical Workers. FDIC is also amending its Reserve System (FRB), and the Office of the
CRA Notice requirements to reflect two Comptroller of the Currency (OCC) have
technical changes concerning the manner in extended the comment period on their joint
which it will receive public comments notice of proposed rulemaking regarding
considered in the CRA examination process. The enhanced cyber risk management standards for
final rule is effective 01/18/2017. The final rule large and interconnected entities. The public
may be viewed at: comment period has been extended until
https://www.gpo.gov/fdsys/pkg/FR-2017-01- 02/17/2017. The notice may be viewed at:
18/pdf/2016-31928.pdf. Federal Register, Vol. https://www.gpo.gov/fdsys/pkg/FR-2017-01-
82, No. 11, 01/18/2017, 5354-5356. 24/pdf/2017-01539.pdf. Federal Register, Vol.
82, No. 14, 01/24/2017, 8172.
Agencies Issue FAQs on CECL Standards
and Implementation Process. CFPB Finalizes Rule Adjusting Civil Monetary
Penalties for Inflation.
The Federal Deposit Insurance Corporation
(FDIC), Board of Governors of the Federal The Bureau of Consumer Financial Protection
Reserve System (FRB), National Credit Union (CFPB) is adjusting for inflation the maximum
Administration (NCUA), and Office of the amount of each civil monetary penalty within
Comptroller of the Currency (OCC) have issued CFPB’s jurisdiction. The final rule is effective
a frequently asked questions document on the 01/15/2017. The final rule may be viewed at:
Financial Accounting Standards Board’s Current https://www.gpo.gov/fdsys/pkg/FR-2017-01-
Expected Credit Loss (CECL) standard and the 12/pdf/2017-00521.pdf. Federal Register, Vol.
implementation process. The FAQs summarize 82, No. 8, 01/12/2017, 3601-3603.
the new standard, provide initial supervisory
views regarding the implementation of the new CFPB Issues Compliance Bulletin on Detecting
accounting standard, and outline steps banks can and Preventing Consumer Harm from
take to prepare for implementation. CECL will Production Incentives.
be effective in 2020 for Securities and Exchange
Commission registrants and in 2021 for all CFPB has published a bulletin compiling
others. The FAQs may be viewed at: guidance that has previously been given by
https://www.occ.gov/news- CFPB in other contexts and highlights examples
issuances/bulletins/2016/bulletin-2016-45a.pdf from its supervisory and enforcement experience
in which incentives contributed to substantial
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