Weekly Rewind...News from Your Regulators

TWO CSG Auditors earn their Certified Regulatory Compliance Manager (CRCM)!


CSG Compliance Auditors Tricia Briggs, and Jodi Hampton have earned their CRCM from the American Banker's Association. They are ready to help your Financial Institution get compliant! Get more information today!

US Treasury Increases Russian Sanctions


Russian Sanctions – The Treasury increased its Russian related sanctions to target Russia’s two largest financial institutions, in addition to three other major institutions, and target specific members in Putin’s inner circle and in elite positions of power. The Treasury has also released several frequently asked questions related to the Russian Harmful Foreign Activities Sanctions.  

NCUA Issues Letter on ECOA Non-discrimination


ECOA Nondiscrimination Requirements - NCUA issued a Letter to Credit Unions (22-CU-04) summarizing the Equal Credit Opportunity Act’s (ECOA) nondiscrimination requirements and outlining fair lending risk factors related to marital status, age, income consideration, redlining, and indirect lending. The letter lists several fair lending risk areas that credit unions should be aware of, including marital status, age, income consideration, redlining, and indirect lending.  



NCUA Hosts Call Report Changes Webinar

Call Report Changes Webinar - To meet overwhelming demand for the “Call Report Changes” webinar held on Feb. 10, the NCUA will host a second presentation on March 8, beginning at 2 p.m. Eastern. Staff from the NCUA’s Office of Examination and Insurance will cover Call Report changes for natural person credit unions effective with the March 2022 reporting cycle, including new schedules for risk-based capital and the Complex Credit Union Leverage Ratio (CCULR), which became effective on Jan. 1.


CAMELS Webinar – On March 10, the NCUA will cover updates to the supervisory rating system that is transitioning from CAMEL to CAMELS, effective April 1. The webinar will focus on the addition of “S” – Sensitivity to Market Risk, and redefining “L” – Liquidity Risk.  

From the CFPB


AVM Options - The CFPB outlined options to ensure that computer models used to help determine home valuations are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses. The CFPB, along with its federal partners, intends to ensure a high level of confidence in the estimates produced by automated valuation models; protect against the manipulation of data; seek to avoid conflicts of interest; require random sample testing and reviews; and account for any other such factor that the agencies determine to be appropriate. 


Prepaid Interest & QMs – The CFPB issued a Factsheet on the interest rate used for calculating the prepaid interest under the price-based general qualified mortgage (QM) annual percentage rate (APR) calculation rule for certain adjustable-rate mortgages (ARMs) and step-rate loans. The factsheet describes the interest rate that is used for calculating prepaid interest for purposes of this special APR calculation rule.

CFPB Blogs About Auto Lending Trends


Auto Loans – The CFPB blogged about current trends in auto loans, which discusses areas of concern in the auto lending market that they will be monitoring closely, such as practices that affect affordability for consumers and certain uses of technology in loan servicing and collection.  

From the FDIC


Special Credit Programs - Along with the FRB, NCUA, OCC, CFPB, HUD, DOJ, FHFA, the FDIC issued an interagency statement to remind creditors of the ability under the ECOA and Regulation B to establish special purpose credit programs to meet the credit needs of specified classes of persons.  

FTC 2021 Fraud Reporting


2021 Fraud Reporting – The FTC released its Sentinel Network report on fraud reports in 2021. The Report shows that consumers reported losing more than $5.8 billion to fraud during the year, up more than 70 percent from 2020.  


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