Committee Leaders Request that Agencies Repudiate Operation Choke Point

Posted August 14, 2017

On Aug. 10, 2017, House Financial Services Committee Chairman Jeb Hensarling (R-TX), House Judiciary Chairman Bob Goodlatte (R-Va.), Regulatory Reform, Commercial and Antitrust Law Subcommittee Chairman Tom Marino (R-Pa.), Financial Institutions and Consumer Credit Subcommittee Chairman Blaine Luetkemeyer (R-Mo.), and Courts, Intellectual Property & the Internet Subcommittee Chairman Darrell Issa (R-Ca.) issued a letter to Attorney General Jeff Sessions, Federal Reserve Board Chair Janet Yellen, and Acting Comptroller Keith Noreika, asking that the Department of Justice, Federal Reserve Board and the Comptroller of the Currency officially issue statements repudiating Operation Choke Point. 

Federal Reserve Board Issues Guidelines to Evaluate Joint Account Requests at Federal Reserve Banks

Posted August 14, 2017

On Aug. 9, 2017, The Federal Reserve Board issued final guidelines which will be used for evaluating future joint account requests at Federal Reserve Banks.

Q2 2017 Experiences 6 Percent Growth in ACH Network Volume

Posted August 10, 2017

In Q2 2017, the ACH Network transferred 5.3 billion Direct Deposits and Direct Payments, up 5.8 p

NACHA Government Relations Update - Aug. 10, 2017

Posted August 9, 2017

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: NACHA Supports McWilliams to be Trump Administration's Pick to Chair the FDIC; CFPB Releases Prototype Model Disclosures & Report on Overdraft Costs and more.
 

Rep. Luetkemeyer Asks Federal Financial Regulators to Harmonize Financial Services Cyber Regulation

Posted August 4, 2017

Before Congress recessed on Aug. 3, 2017, Financial Institutions Subcommittee Chair Luetkemeyer (R-Mo.) sent a letter asking the federal financial regulators to harmonize the cyber security regulatory regimes for the financial services sector.

CFPB Releases Prototype Model Disclosures & Report on Overdraft Costs

Posted August 4, 2017

On Aug. 4, 2017, CFPB released prototype model disclosures aimed at helping consumers better understand the pros and cons of optional overdraft coverage for checking accounts and a report on overdraft costs.

RMAG Best Practices for Risk & Exposure Management: Part 4

Posted August 4, 2017

Earlier this year the NACHA Risk Management Advisory Group (RMAG) conducted a survey of the metho

OCC Solicits Public Comments on Revising the Volcker Rule

Posted August 3, 2017

On Aug. 2, 2017, the Office of the Comptroller of the Currency (OCC) published a notice that solicits public input on whether certain aspects of the implementing the Volker Rule regulation should be revised to in order to decrease the compliance burden on banking entities and fostering economic growth.