FDIC Opens Registration for Tech Sprint

Digital Identity Tech Sprint – Along with the FinCEN, the FDIC opened the registration for participation in a Tech Sprint to help measure the effectiveness of digital identity proofing – the process used to collect, validate, and verify information about a person.  

From the CFPB

Justice-Involved Individuals and the Consumer Financial Marketplace – In January, the CFPB published the report which examines the ways in which persons who are incarcerated or are under community supervision are often forced to obtain needed services from specific providers at exorbitant costs. It looks at accounts maintained by prison systems, the use of third-party providers, collections, and, among other things, the impact of creditworthiness screening by banks on individuals leaving incarceration.

NCUA Issues HMDA Alert

22-RA-01 – The NCUA’s Alert, Home Mortgage Disclosure Act Data Collection Requirements for Calendar Year 2022, reminds credit unions of the HMDA thresholds and requirements to collect HMDA data. It provides a handy chart to use to identify if a credit union is eligible for a partial exemption of the requirements. In a related Alert, 22-RA-02, the NCUA reminds credit unions, that are subject to HMDA requirements, that their LARs for 2021 must be submitted by March 1, 2022. 

CFPB Updates Rural and Underserved List

Rural or Underserved Areas – the CFPB updated its list of rural or underserved areas for use in 2022 for use under Regulation Z. The Bureau also updated its tool to identify whether a specific address is in a rural or underserved area.  

FinCEN Makes Announcement

Extended Comment Period – FinCEN announced that it is extending the comment period for its Anti-Money Laundering Regulations for Real Estate Transactions ANPR. Comments will be accepted until February 21, 2022.