Compliance Monthly Newsletter

Compliance Monthly is intended to keep you informed of regulatory changes in advance of their effective date. With current information, your institution can prepare the necessary policies, procedures, and processes and be compliant at the time of enactment.



Regulatory Compliance Calendar
October 2022
Date PublishedImplementing RegulationEffective DateRule Type*Description/HyperlinkAffected DepartmentManager ResponsibleAction Taken
September 30, 2022Section 6403 of the Corporate Transparency Act (CTA)January 1, 2024FinalBeneficial Ownership Information Reporting Requirements
September 6, 2022OFAC Cyber-Related Sanctions RegulationsSeptember 6, 2022FinalAmendments to Cyber Related Sanctions
April 27, 2021Regulation Z – QMOctober 1, 2022Final RuleQM Definitions Final Rule
August 10, 2022Section 1002 of the Consumer Financial Protection Act of 2010 (CFPA)August 17, 2022Interpretative RuleLimited Applicability of CFPB Act’s “Time or Space” Exception
August 10, 2022FHA Preferred Language SCIFMarch 1, 2023Required Procedure ChangeFHFA Announces Mandatory Use of the Supplemental Consumer Information Form
August 18, 2022Section 5 of the FTC Act prohibiting unfair or deceptive acts or practices (UDAP)August 18, 2022Supervisory GuidanceSupervisory Guidance on Multiple Re-Presentment NSF Fees
July 27, 2022Section 808 of the Fair Debt Collection Practices Act (FDCPA)July 27, 2022FAQDebt Collection Rule FAQs
July 21, 2022ONES supervisionJanuary 1, 2023FinalNCUA’s Asset Threshold for Determining the Appropriate Supervisory Office
July 12 2022FCRAJuly 12 2022Advisory OpinionFair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports
July 6, 2022BSA AMLJuly 6, 2022Joint StatementJoint Statement on the Risk-Based Approach to Assessing Customer Relationships and
June 29, 2022Section 808 of the Fair Debt Collection Practices Act (FDCPA)June 29, 2022Advisory OpinionCFPB Moves to Reduce Junk Fees Charged by Debt Collectors
June 28, 2022FCRAJune 28, 2022Interpretive RuleThe Fair Credit Reporting Act’s Limited Preemption of State Laws
June 24, 2022Regulation V (FCRA)July 25, 2022FinalProhibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking (Regulation V)
June 15, 2022BSA AMLImmediateAdvisoryAdvisory on Elder Financial Exploitation
June 6, 2022Regulation JOctober 1, 2022FinalCollection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire
May 20, 2022Regulation J 12 CFR Part 210First calendar quarter following publication in FRFinalCollection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire
May 19, 2022Consumer Financial Protections Act of 2010May 26, 2022Interpretive RuleAuthority of States to Enforce the Consumer Financial Protection Act of 2010
May 17, 2022Advertisement of Membership 12 C.F.R. Part 32830 days after publication in FRFinalFalse Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
May 16, 2022Regulation D 12 CFR 204Effective date: May 16, 2022.
Applicability date: The IORB rate change was applicable on May 5, 2022.
FinalRegulation D: Reserve Requirements of Depository Institutions
May 16, 2022Regulation A 12 CFR 201Effective date: May 16, 2022.
Applicability date: The rate changes for primary and secondary credit were applicable on May 5, 2022.
FinalRegulation A: Extensions of Credit by Federal Reserve Banks
May 10, 2022Equal Credit Opportunity Act and Regulation BMay 18, 2022Advisory OpinionEqual Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements
May 9, 2022Appendix A to 12 CFR 14May 9, 2022FinalCustomer Assistance Group Address Change: Final Rule and Rescission
April 7, 2022FDI Act Section 39 o Part 364 (including Appendices A and B) safety and soundness standards for all FDIC–supervised institutionsApril 7, 2022LetterNotification of Engaging in Crypto-Related Activities
March 29, 2022Incident Response RequirementsEffective date: April 1, 2022; Compliance date: May 1, 2022.Final RuleComputer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers
March 16, 2022OCC SAR RegulationsMay 1, 2022Final RuleOCC Final Rule Addressing Authority for Exemptions to SAR Requirements
February 22, 2022ECOA/Regulation BNAInteragency StatementFair Lending: Interagency Statement on Special Purpose Credit Programs
February 17, 2022NCUA PCA RegulationsThese temporary modifications will remain in place until March 31, 2023.Interim Final RulePrompt Corrective Action: Earnings Retention Waivers and Net Worth Restoration Plans
February 16, 2022OFACFebruary 16, 2022RuleChinese Military-Industrial Complex Sanctions Regulations
January 21, 2022FDIC
12 CFR Part 330
April 1, 2024FinalFDIC Approves Final Rule Regarding Deposit Insurance Simplification
December 30, 2021Community Reinvestment ActJanuary 1, 2022FinalOCC’s CRA: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds
December 27, 2021OFACDecember 27, 2021FinalWeapons of Mass Destruction Trade Control Regulations
December 23, 2021Bank Secrecy ActDecember 23, 2021FinalBank Secrecy Act Regulations-Reports of Foreign Financial Accounts Civil Penalties
December 17, 2021Community Reinvestment ActJanuary 1, 2022FinalFRB and FDIC Annual Asset-size Thresholds under CRA
December 14, 2021Community Reinvestment ActJanuary 1, 2022FinalOCC Rescinds its 2020 Community Reinvestment Act Rule
December 8, 2021Regulation Z (LIBOR Sunset)1-Apr-22FinalFinal Rule on Facilitating the LIBOR Transition (Regulation Z)
November 30, 2021Truth in Lending Act Section 129HJanuary 1, 2022FinalAppraisals for Higher-Priced Mortgage Loans Exemption Threshold
November 30, 2021Consumer Leasing (Regulation M)January 1, 2022FinalRegulation M Dollar Threshold Adjustments
November 30, 2021Truth in Lending (Regulation Z)January 1, 2022FinalRegulation Z Dollar Threshold Adjustments
November 26, 2021OFAC Laws and RegulationsNovember 26, 2021FinalSyrian Sanction Regulations
November 10, 2021FCRANovember 10, 2021Advisory OpinionCFPB Advisory Opinion on Fair Credit Reporting; Name-Only Matching Procedures
October 27, 2021Interagency Guidelines
for Real Estate Lending Policies
November 26, 2021FinalFinal Rulemaking to Amend the Real Estate Lending Standards
October 26,2021Community Reinvestment ActNAFAQCommunity Reinvestment Act: Frequently Asked Questions Regarding Notice of Proposed Rulemaking to Rescind the OCC’s June 2020 CRA Rule
October 7, 2021HUD RuleNovember 8, 2021Interim FinalExtension of Time and Required Disclosures for Notification of Nonpayment of Rent
October 4, 2021FDCPANAFAQDebt Collection Rule FAQs
September 8, 2021Regulation D Part 204September 8, 2021Final RuleRegulation D: Reserve Requirements of Depository Institutions Amendment
August 5, 202112 CFR Part 7August 5, 2021Final RuleNational Banks and Federal Savings Associations as Lenders
August 5, 2021Regulation ZImmediateInterpretive RuleTruth in Lending (Regulation Z); Impact of the 2021 Juneteenth Holiday on Certain
July 29,2021Regulatory Capital Treatment of Capital InstrumentsNAFAQCapital and the LIBOR Transition
July 22, 2021UDAPJuly 22, 2021FinalFTC Revisions to Rules of Practice
July 6, 2021OFACJuly 6, 2021FinalInternational Criminal Court-Related Sanctions Regulations
June 30, 2021Anti-Money Laundering Act of 2020Within 180 days of the establishment of the AML/CFT Priorities, FinCEN is to issue
Interagency StatementInteragency Statement on the Issuance of the Anti-Money Laundering/Countering the Financing of Terrorism National Priorities
June 28, 2021Regulation X/RESPAAugust 31, 2021FinalProtections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act, Regulation X
June 16, 2021Military Lending ActJune 16, 2021InterpretiveExaminations for Risks to Active-Duty Servicemembers and Their Covered Dependents
June 4, 2021Regulation ENAFAQElectronic Fund Transfers FAQs
June 4, 2021Mortgage Servicing Rule, Regulation X and Regulation ZNAFAQMortgage Servicing FAQs
June 4, 2021Regulation D29-Jul-21FinalRegulation D: Reserve Requirements of Depository Institutions
May 1, 2021TRID-RESPA Integrated Dislcosure RuleNAFAQTRID-RESPA Integrated Disclosure FAQ on Housing Assistance Loans
April 27, 2021Regulation Z – QMDELAYED until October 1, 2022Final RuleQM Definitions Final Rule
April 16, 2021NCUA PCA RegulationsTemporary measures in place until March 31, 2022Interim Final Rule (Modification of May 28, 2020 Interim Rule)Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action
April 9, 2021Supervisory Guidance on Model Risk ManagementNAGuidanceInteragency Statement on Model Risk Management for Bank Systems Supporting Bank
March 16,2021Equal Credit Opportunity Act (Regulation B)March 16,2021Interpretive RuleEqual Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual
March 17, 2021OFAC – 86 FR 14534March 17, 2021FinalOFAC Inflation Adjustment of Civil Monetary Penalties
February 25, 2021Telephone Consumer Protection Act of 1991Effective March 29, 2021 except for the amendments to Sec. 64.1200(a)(3)(ii) through (v), (b)(2) and (b)(3), and (d), which are delayed indefinitely.FinalLimits on Exempted Calls Under the Telephone Consumer Protection Act of 1991
February 18, 2021NCUA Share Insurance30 days after publication in FRFinalNCUA Board Approves Joint-Ownership Share Accounts Final Rule
February 17, 2021Regulation ZFebruary 17, 2021FinalHigher-Priced Mortgage Loan Escrow Exemption (Regulation Z)
February 17, 2021Regulation OFebruary 17, 2021Interim Final RuleLoans to Executive Officers, Directors, and Principal Shareholders of Member Banks
February 16, 2021CECLApril 1, 2021FinalFinal Rule to Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses (CECL) Methodology
February 10, 2021Regulation DMarch 12, 2021FinalRegulation D: Reserve Requirements of Depository Institutions
January 19, 2021FinCENJanuary 19, 2021FAQFAQs Regarding Suspicious Activity Reporting and Other Anti-Money Laundering (AML) Considerations
January 19, 2021FDIC Guidelines for Appeals of Material Supervisory DeterminationsTBDRevised GuidelinesRevised Guidelines for Appeals of Material Supervisory Determinations
January 19, 2021Interagency Statement Clarifying the Role of Supervisory GuidanceFRB Finalized 3/31/2021. OCC and CFPB rules effective March 15, 2021. The NCUA rule effective March 5, 2021.Final RuleRole of Supervisory Guidance
January 19, 2021Regulation Z, 12 CFR part 1026Upon publication in FRFinal RuleHPML Escrow Exemption Rule
January 14, 2021
Title III of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010
4/1/2021 **PAUSED**
Final Rule
OCC Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit
OCC Fair Access Rule Paused
December 31, 2020Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015January 1, 2021, for conduct occurring on or after November 2, 2015Final RuleOCC Notification of Inflation Adjustments for Civil Money Penalties
December 23, 2020Regulation DMarch 24, 2020 (Per Interim Final Rule)Final RuleRegulation D: Reserve Requirements of Depository Institutions
December 22, 2020HMDAJanuary 1, 2021RuleHome Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
December 22, 2020Regulation ZJanuary 1, 2021RuleTruth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
December 22, 2020Regulation OExtended January 1, 2021 expiration dateRevised StatementRevised Statement Regarding Status of Certain Investment Funds and Their Portfolio Investements For Purposes of Regulation O
December 22, 2020SEC 17 CFR Part 275 and 27960 days after publication in FR. Mandatory compliance date is July 1, 2021Final RuleSEC Investment Adviser Marketing
December 22, 2020Subpart A—National Banks and Federal
Savings Association Powers
Activities That Are Part of, or Incidental
to, the Business of Banking (New
§ 7.1000)
April 1, 2021Final RuleActivities and Operations of National Banks and Federal Savings Associations
December 21, 2020Regulation B – Special Purpose Credit ProgramsDecember 21, 2020Advisory OpinionRegulation B – Special Purpose Credit Programs
December 20, 2020Regulation F – Debt Collection PracticesNovember 30, 2021Final RuleCFPB Debt Collection Practices
December 18, 202012 U.S.C. § 25bDecember 18, 2020Interpretive LetterFederal Pre-emptions Standards – OCC Chief Counsel’s Interpretation: 12 U.S.C. § 25b
December 17, 2020Community Reinvestment ActJanuary 1, 2021Joint Final RuleCommunity Reinvestment Act Regulations Annual Adjustment
December 15, 2020Nacha RulesJune 30, 2021RuleNacha Rule Enforcing Egregious Violations
December 15, 2020Section 29 of the Federal Deposit Insurance ActEffective April 1, 2021; full compliance with the revised brokered deposit regulation extended to January 1, 2022.Final RuleUnsafe and Unsound Banking Practices: Brokered Deposits and Interest Rate Restrictions
December 11, 2020FinCEN Notice 2019-1Filing requirements extended until April 15, 2021Further ExtensionFBAR Extended Filing Date
December 10, 2020USA PATRIOT Act Section 314(b)December 10, 2020Fact SheetFinCEN Issues New 314(b) Fact Sheet
December 10, 2020Regulation Z – QMDELAYED until October 1, 2022Final RuleQM Definitions Final Rule
November 30, 2020FDCPANovember 31, 2021Final Rule and Official InterpretationDebt Collection Practices (Regulation F)
November 23, 2020Title III of the Dodd-Frank Wall Street Reform and Consumer Protection ActApril 1, 2021Final RuleActivities and Operations of National Banks and Federal Savings Associations
November 20, 2020COVID RulesApril 1, 2021Interim Final RuleTemporary Asset Thresholds
November 19, 2020Board’s assessment rule, Regulation TT, pursuant to Section 318 of the Dodd-Frank ActDecember 19, 2020Final RuleSupervision and Regulation Assessments of Fees for Bank Holding Companies and Savings and Loan Holding Companies with Total Consolidated Assets of $100 Billion or More
November 16, 202012 CFR part 5 (OCC’s Rules, Policies, and Procedures for Corporate Activities)January 1, 2021Final RuleOCC Licensing Amendments
November 13, 2020Branch Application RequirementsDecember 14, 2020Final RuleFDIC Branch Application Amendments
November 12, 2020NCUA’s corporate credit union regulationDecember 14, 2020Final RuleCorporate Credit Unions
November 6, 2020LIBOR DiscontinuanceNAInteragency StatementInteragency Statement on LIBOR Transition
October 30, 2020National Flood Insurance Act2-Dec-20FinalRevisions to Publication Requirements for Community Eligibility Status Information Under the National Flood Insurance Program
October 27, 202012 U.S.C. 8560 days after Publication in FRFinalOCC Issues “Final Lender” Rule
October 27, 2020Cuban Assets Control Regulations26-Nov-20RuleCuban Assets Control Regulations
October 26, 2020TLAC Rule/Regulatory Capital Treatment RequirementsApril 1, 2021FinalRegulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations; Total-Loss Absorbing Capacity Requirements
October 23, 2020CARES Act/MMLF RulesThru December 31, 2021Interim FinalApplicability of Annual Independent Audits and Reporting Requirements for Fiscal Years Ending in 2021
October 20, 2020Regulation Z (ATR/QM Rule)28-Dec-20FinalQualified Mortgage Definition under the Truth in Lending Act (Regulation Z): Extension of Sunset Date
October 5, 2020Dodd-Frank ActOctober 8, 2020Statement of PolicyStatement of Policy on Applications for Early Termination of Consent Orders
September 30, 2020CARES Act/CECL-Accounting Standards Update No. 2016-13September 30, 2020Final RuleRegulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances
September 29, 2020Real Estate Appraisal RuleThrough December 31, 2020Temporary FinalReal Estate Appraisals
September 29, 2020Regulatory Capital Rule and the Liquidity Coverage Ratio (LCR) Rule60 days after publication in FRTemporary FinalTreatment of Certain Emergency Facilities in the Regulatory Capital Rule and the Liquidity Coverage Ratio Rule
September 24, 2020Cuban Assets Control RegulationSeptember 24, 2020AmendmentCuban Assets Control Regulation
September 24, 2020Cuban Assets Control RegulationNAFAQCuban Assets Control Regulation FAQ
September 21, 2020NANAInterpretive Letter Chief Counsel’s Interpretation on National Bank and Federal Savings Association Authority to Hold Stable coin Reserves
September 18, 2020FEMA Disaster DeclarationSeptember 18, 2020GuidanceOregon Wildfire Regulatory Relief
September 15, 2020FinCENEffective date is November 16, 2020. The compliance date is March 15, 2021.Final RuleFinCEN Customer Identification Programs, Anti-Money Laundering Programs, and Beneficial Ownership Requirements for Banks Lacking a Federal Functional Regulator
September 11, 2020SEC Industry Guide 3, Statistical Disclosure by Bank Holding CompaniesEffective 30 days after publication
in FR, except for the rescission to 17 CFR 229.801(c) and 229.802(c), which
will be effective on January 1, 2023
Final RuleSEC Modernizes Disclosures for Banking Registrants
September 3, 2020Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015October 5, 2020Interim Final RuleInflation Adjustment of Civil Monetary Penalties Related to Reporting and Recordkeeping
August 26, 2020CECL Accounting RulesVariousFinal RuleRegulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances
August 26, 2020Capital RulesJanuary 1, 2021Final RuleRegulatory Capital Rule and Total Loss-Absorbing Capacity Rule: Eligible Retained Income
August 26, 2020EGRRCPA/CARES ActOctober 1, 2020Final RuleRegulatory Capital Rule: Temporary Changes to and Transition for the Community Bank
August 21, 2020FinCEN’s 2016 CDD Final RuleAugust 21, 2020Joint StatementJoint Statement on Bank Secrecy Act Due Diligence Requirements for Customers
August 18, 2020Bank Secrecy ActAugust 18, 2020Enforcement StatementFinancial Crimes Enforcement Network (FinCEN) Statement on Enforcement of the Bank Secrecy Act
August 13, 2020Section 8(s) FDIA/Section 206(q) of the FCUAAugust 13, 2020Joint StatementJoint Statement on Enforcement of Bank Secrecy Act/ Antimoney Laundering Requirements
August 11, 2020CARES ActNAFAQPaycheck Protection Program Forgiveness FAQ
August 11, 2020Payday Lending RuleNAFAQPayday Lending Rule FAQs
August 4, 2020Collective Investment Fund Rules30 day after publication in FRInterim Final RuleOCC Issues Rule Creating Exception to Withdrawal Period Requirement for Collective Investment Funds, Eases Impact of COVID-19
August 4, 2020CARES ActNAFAQFrequently Asked Questions (FAQs) on PPP Loan Forgiveness
August 3, 202031 U.S.C § 5318(h) and 31 CFR § 1010.210NAFAQFrequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions
July 31, 2020HMDANAFAQHome Mortgage Disclosure Act FAQs
July 30, 2020NANAAdvisoryAdvisory on Cybercrime and Cyber-Enabled Crime Exploiting the Coronavirus Disease 2019 (COVID-19) Pandemic
July 30, 2020NCUA 12 CFR Part 70130 day after publication in FRFinalNCUA Chartering and Field of Membership
July 24,2020Section 19 FDIA30 day after publication in FRFinalIncorporation of Existing Statement of Policy Regarding Requests for Participation in the Affairs of an Insured Depository Institution by Convicted Individuals
July 24,2020FOIA Rules30 day after publication in FRFinal RuleRules Regarding Availability of Information (FOIA)
July 22, 2020Section 27 FDIAAugust 21, 2020Final RuleFederal Interest Rate Authority
July 20, 2020National Flood Insurance ProgramOctober 1, 2021Final RuleNational Flood Insurance Program: Conforming Changes To Reflect the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) and the Homeowners Flood Insurance Affordability Act of 2014 (HFIAA), and Additional Clarifications for Plain Language
July 20, 2020Regulation ZJanuary 1, 2021Final RuleTruth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)
July 16, 2020Regulation O/Loans to Insiders Section 215.3Effective July 16, 2020. Comments on interim final rule must be received by August 31, 2020.Interim Final RuleLoans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Regulation O
July 14, 2020OCC Employment Contracts RuleAugust 13, 2020Final RuleEmployment Contracts, Mutual to Stock Conversions
July 7, 2020BSA AMLNAAdvisoryAdvisory on Imposter Scams and Money Mule Schemes Related to Coronavirus Disease 2019 (COVID-19)
July 7, 20202017 Final Rule on Payday LendingOctober 20, 2020Final RulePayday, Vehicle Title, and Certain High-Cost Installment Loans
July 7, 20202017 Final Rule on Payday LendingOctober 20, 2020FAQPayday Lending Rule FAQs
July 7, 20202017 Final Rule on Payday LendingOctober 20, 2020GuideUpdated Payday Lending Small Entity Compliance Guide
July 1, 2020LIBOR DiscontinuanceDiscontinued as of 1/1/2021Joint StatementFinancial Regulators Issue Statement on Managing the LIBOR Transition
June 30, 2020OCC SupervisionNAOCC HandbookOCC Handbook on Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices
June 29, 2020Bank Secrecy ActJune 29, 2020GuidanceFinCEN Guidance Regarding Due Diligence Requirements under the Bank Secrecy Act for Hemp-Related Business Customers
June 26, 2020Swaps Margin RuleSeptember 1, 2021 (Extended due to COVID-19)Interim Final RuleMargin and Capital Requirements for Covered Swap Entities
June 26, 2020Section 13 of the Bank Holding Company ActOctober 1, 2020Final RuleProhibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
June 25, 2020Section 27 of the
30 days from publication in FRFinal RuleFederal Interest Rate Authority
June 24, 2020HMDAJune 24, 2020Interpretive RuleTruth in Lending (Regulation Z); Determining “Underserved” Areas Using Home Mortgage Disclosure Act Data
June 24, 2020HMDANAInformationFFIEC Announces Availability of 2019 Data on Mortgage Lending
June 24, 2020NANAInformation2020 list of distressed or underserved nonmetropolitan middle-income geographies,
June 23, 2020Regulation ZOn PublicationInterpretive RuleTruth in Lending (Regulation Z); Determining “Underserved” Areas Using Home Mortgage Disclosure Data
June 23, 2020Regulation X/CARES ACTJuly 1, 2020Interim Final RuleCFPB Issues Interim Final Rule on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
June 22, 2020National Bank Act and the Home Owners’ Loan ActAssessments to be paid 9/30/20Interim Final RuleOCC Interim Final Rule Reduces Assessments in Response to COVID-19
June 18, 2020National Flood Insurance ActNAManual UpdateFDIC Enforcement Actions Manual for Flood Insurance Civil Money Penalties
June 18, 2020Regulation EJuly 21, 2020Compliance GuideRemittance Transfers Small entity compliance guide
June 17, 2020Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 (IBBEA)NAInformationProhibition Against Interstate Deposit: Annual Host State Loan-to-Deposit Ratios
June 16, 2020CARES ActNAFAQConsumer Reporting FAQs Related to the
June 11, 2020Executive Order 13928ImmediateExecutive OrderBlocking Property of Certain Persons Associated With the International Criminal Court
June 9, 2020TRIDNAFact SheetFactsheet: TRID Title Insurance Disclosures
June 9, 2020TRIDNAFAQCorrected Closing Disclosures and the Three Business Day Waiting Period before Consummation
June 8, 2020OFAC/Executive Order 13902ImmediateFAQImposing Sanctions With Respect to Additional Sectors of Iran FAQ
June 3, 2020Regulation Z (12 CFR part 1026)NAStatementStatement on Supervisory and Enforcement Practices Regarding Electronic Credit Card Disclosures in Light of the COVID-19 Pandemic
June 3, 2020BSAImmediateInformationElectronic Filing of CMIR FinCEN Form 105 Now Permitted
May 29, 202012 CFR Parts 7 and 16060 days after publication in FRFinal RulePermissible Interest on Loans that are Sold, Assigned, or Otherwise Transferred
May 26, 202012 CFR 5.2128-May-20Interim Final RuleDirector, Shareholder, and Member Meetings: Interim Final Rule
May 20, 2020NAMay 20, 2020GuidanceInteragency Lending Principles for Offering Responsible Small-Dollar Loans
May 20, 2020
Community Reinvestment Act (OCC)
Effective October 1, 2020, with a compliance date of January 1, 2023. Small banks and ISBs have until January 1, 2024, to comply with requirements on assessment area, data collection and recordkeeping
Final Rule
OCC’s Community Reinvestment Act Regulations
Examples of activities that would qualify under 12 CFR
May 14, 2020Regulation D Reserve RequirementsNAFAQSavings Deposits Frequently Asked Questions
May 14, 2020ECOANAFAQ
May 12, 2020Regulation C, 12 CFR part 1003July 1, 2020Final RuleHome Mortgage Disclosure (Regulation C)
May 11, 2020Regulation EJuly 21, 2020Final RuleConsumer Financial Protection Bureau Issues Final Remittance Rule
May 10, 2020Accounting Standards Codification (ASC) Topic 326, Financial Instruments – Credit Losses (FASB ASC Topic 326)Upon Publication in Federal RegisterFinal Interagency GuidanceInteragency Policy Statement on Allowances for Credit Losses
May 10, 2020Interagency Guidelines Establishing Standards
for Safety and Soundness
Upon Publication in Federal RegisterFinal GuidanceInteragency Guidance on Credit Risk Review Systems
May 5, 2020Federal Reserve Act; LCR RuleThe interim final rule is effective May 6, 2020. Comments on the interim final rule must be received no later than June 5, 2020.Interim Final RuleLiquidity Coverage Ratio Rule: Treatment of Certain Emergency Facilities
May 1, 2020Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking
July 1, 2021, and
January 1, 2022
Final RuleSingle-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking
May 1, 2020ECOANAFAQ
April 30, 2020Cloud ComputingNAJoint StatementJoint Statement – Security in a Cloud Computing Environment
April 27, 2020Section 19 of the Federal Reserve Act, 12 CFR Part 204ImmediateInterim Final RuleRegulation D: Reserve Requirements of Depository Institutions
April 23, 2020NCUA 12 CFR Parts 702 and 723Date of publication in FRInterim Final RuleRegulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck
April 22, 2020CECL-Joint AgenciesDate of publication in FRInterim Final RuleRegulatory Capital Rule: Revised Transition of the Current Expected Credit Losses
April 22, 202012 CFR 215 (Regulation O)April 22, 2020Interim Final RuleTemporary Relief for Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks
April 16, 202012 CFR Part 1003 (HMDA)July 1, 2020Final RuleHome Mortgage Disclosure (Regulation C)
April 14, 2020Freddie Mac Form 65 and Fannie Mae Form 1003March 1, 2021ExtendedExtended URLA Implementation Timeline
April 14, 2020Appraisal Rules – Joint AgenciesDate of publication in FR through December 31, 2020Interim Final RuleReal Estate Appraisals
April 14, 2020NCUA 12 CFR Part 72560 days after publication in FRInterim Final RuleCentral Liquidity Facility
April 13, 202012 CFR Part 1005 (Regulation E)NAInterpretive RuleTreatment of Pandemic Relief Payments Under Regulation E and Application of the
April 9, 2020OFAC 85 FR 19884April 9, 2020Final RuleInflation Adjustment of Civil Monetary Penalties
April 7, 2020SEC Exchange Act Rule 15l-1June 30, 2020Risk AlertExaminations that Focus on Compliance with Regulation Best Interest
April 7, 2020SEC Securities Exchange Act of 1934; Investment Advisers Act of 1940June 30, 2020Risk AlertExaminations that Focus on Compliance with Form CRS
April 6, 2020Section 19 of the Federal Reserve Act, 12 CFR Part 204NAFAQReserves Central—Reserve Account Administration Application Frequently Asked Questions
April 1, 2020Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”)ImmediateSupervisory StatementStatement on Supervisory and Enforcement Practices Regarding the Fair Credit
April 1, 2020Supplementary Leverage Ratio Rule4/1/2020 through 3/31/2021Interim Final RuleRegulatory Capital Rule: Temporary Exclusion of U.S. Treasury Securities and Deposits at
April 1, 2020National Flood Insurance Program (NFIP)Various based on communityFinal ruleSuspension of Community Eligibility
March 31,2020FRB Regulation Y and Regulation LLMarch 30, 2020Final – DelayedControl and Divestiture Proceedings Delayed
March 27, 2020CARES Act/CECL-Accounting Standards Update No. 2016-13March 27, 2020 through December 31, 2020Interim Final RuleJoint Statement on the Interaction of Regulatory Capital Rule: Revised Transition of the
March 30, 2020Community Bank
Leverage Ratio (CBLR) Rule
March 31, 2020Joint StatementJoint Statement on Adjustment to the Calculation for Credit Concentration Ratios
March 24, 2020Part II of the Federal Reserve Policy on Payment System Risk10/1/2020 (Originally 4/1/2020)Policy Change DelayFRB announces implementation delay for changes to its Payment System Risk Policy regarding intraday credit
March 23, 2020Money Market Mutual Fund Liquidity Facility (MMLF), pursuant to section 13(3) of the Federal Reserve ActMarch 23, 2020Interim Final RuleRegulatory Capital Rule: Money Market Mutual Fund Liquidity Facility
March 22, 2020OCC’s STIF RuleMarch 23, 2020Interim Final RuleOCC Revises Short-Term Investment Fund Rule
March 19, 2020NACHA Operating RulesApril 20, 2020Final RuleFederal Government Participation in the Automated Clearing House
March 18, 2020Comprehensive Capital Analysis and Review (CCAR)May 18, 2020Final RuleRegulations Q, Y, and YY: Regulatory Capital, Capital Plan, and Stress Test Rules
March 10, 2020International Emergency Economic Powers ActMarch 10, 2020Final RuleRemoval of Terrorism Sanctions Regulations
March 9, 2020FATFNAGuidanceFATG Guide to Digital Identity
March 5, 2020Supplement OCC Bulletin 2013-29, “Third-Party Relationships: Risk Management Guidance”NAFAQThird-Party Relationships: Frequently Asked Questions to Supplement OCC Bulletin 2013-29
March 4, 2020Securitization Safe Harbor RuleMay 4, 2020Final Rule -AmendmentSecuritization Safe Harbor Rule
February 28, 2020Military Lending ActFebruary 28, 2020Interpretive RuleMilitary Lending Act Limitations on Terms of Consumer Credit Extended to Service Members and Dependents
February 19, 2020Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015February 19, 2020Final RuleFinCEN Adjusts Penalty Caps
February 13, 2020Regulation CEffective January 1, 2020 for data collected in 2020 and reported in 2021.GuidanceHome Mortgage Disclosure Act (HMDA): FFIEC Issues 2020 Version of A Guide to HMDA Reporting: Getting It Right!
February 10, 2020CTR FinCEN Form 112April 6, 2020RulingFinCEN CTR (Form 112) Reporting of Certain Currency Transactions for Sole Proprietorships and Legal Entities Operating Under a “Doing Business As” (“DBA”) Name
January 31, 2020FRB Regulation Y and Regulation LL4/1/2020 DelayedFinal RuleControl and Divestiture Proceedings
January 28, 2020IRS Regulation Section 163(h)(3)(E)Tax Year 2020GuidanceChanges to the Deductibility of Mortgage Insurance Premiums (MIP)
January 27, 2020Section 1031(a) of the Dodd-Frank Wall Street Reform and Consumer Protection
Act (Dodd-Frank Act)
January 24, 2020Policy StatementStatement of Policy Regarding Prohibition on Abusive Acts or Practices
January 22, 2020National Flood Insurance Program (NFIP)VariousFinal RuleSuspension of Community Eligibility
January 14, 2020Federal Civil Penalties Inflation Adjustment Act of 1990January 15,2020Final RuleCivil Penalty Inflation Adjustments
January 2, 2020Rev. Proc. 2019-46January 1, 2020Final RuleIRS issues standard mileage rates for 2020
January 2, 2020Chapter 3 of subtitle A of the Internal Revenue CodeJanuary 2, 2020Final RuleRegulations Relating to Withholding and Reporting Tax on Certain U.S. Source Income Paid to Foreign Persons
December 27, 2019Joint AgenciesNAInteragency StatementTreatment of Extensions of Credit to Certain Investment Funds and Their Portfolio Investments Under 12 CFR 215 and 12 CFR 363: Interagency Statement
December 23, 2019CFPBJanuary 1, 2020Final RuleTruth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
December 20, 2019CFPBJanuary 1, 2020Final RuleHome Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
December 13, 2019Joint Agencies4/1/2020Final RuleHigh Volatility Commercial Real Estate: Final Rule
December 3, 2019Joint AgenciesNAInteragency StatementConsumer Compliance: Interagency Statement on the Use of Alternative Data in Credit Underwriting
December 3, 2019Joint AgenciesNAInteragency StatementBank Secrecy Act/Anti-Money Laundering: Joint Statement on Providing Financial Services to Customers Engaged in Hemp-Related Businesses
November 27, 2019FCRAJanuary 1, 2020Final RuleFCRA Annual Adjustments
November 27, 2019NAJanuary 2, 2020NoticeFederal Reserve Board Approves Fee Schedule for Federal Reserve Bank Priced Services
November 20, 2019Section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection ActApril 1, 2020Final RuleRegulatory Capital Rules: Revised Definition of a High Volatility Commercial Real Estate (HVCRE) Exposure
November 20, 2019Regulation D Reserve RequirementsJanuary 1, 2020Annual NoticeFederal Reserve Board Announces Annual Indexing of Reserve Requirement Exemption Amount and of Low Reserve Tranche for 2020
November 19, 2019Section 402 of the Economic Growth, Regulatory Relief, and Consumer Protection
April 1, 2020Final RuleRegulatory Capital Rule: Revisions to the Supplementary Leverage Ratio to Exclude
November 19, 201912 CFR Parts 3 and 32; 12 CFR Part 217; 12 CFR Part 324Effective 4/1/2020. Mandatory compliance 1/1/2022Final RuleStandardized Approach for Calculating the Exposure Amount of Derivative
November 4, 201912 CFR Part 324 (Regulatory Capital Rules)Revised effective date of 1/1/2020 election or wait until the quarter beginning 4/1/2020Revised RuleRevised Effective Date for Simplifications to the Capital Rule
November 4, 2019Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection ActJanuary 1, 2020Final RuleCommunity Bank Leverage Ratio Framework
October 30, 2019TILAJanuary 1, 2020AmendmentAppraisals for Higher-Priced Mortgage Loans Exemption Threshold Adjustment
October 30, 2019TILAJanuary 1, 2020AmendmentTruth in Lending (Regulation Z) Threshold Adjustments
October 30, 2019TILAJanuary 1, 2020AmendmentConsumer Leasing (Regulation M) Annual Threshold Adjustments
October 29, 2019EGRRCPAJanuary 1, 2020Final RuleRegulatory Capital Rule: Capital Simplification for Qualifying Community Banking
October 10, 2019Regulation CJanuary 20, 2020Final RuleHome Mortgage Disclosure Act Final Rule
October 8, 2019Bank Holding Company ActEffective 1/1/2020 Compliance by 1/1/2021Final RuleAgencies finalize changes to simplify Volcker rule
September 27, 2019FIRREA Title XI as amended by the Dodd Frank ActJanuary 1, 2020AmendmentNew Appraisal Threshold for Residential Real Estate Loans
September 25, 2019Section 199A of IRS CodeContemporaneous records
requirement will not apply to taxable years beginning prior to January 1, 2020.
RuleIRS Safe Harbor Rule for Rental Real Estate
September 24, 2019Fair Labor Standards ActJanuary 1, 2020Final RuleFinal Rule: Overtime Update
September 18, 2019Economic Growth, Regulatory Relief and Consumer Protection ActEffective for March 2020 Call ReportFinal RuleFDIC Final Changes to Capital Rule
August 30, 2019Truth in Caller ID RulesFebruary 5, 2020AmendmentFTC Amends Truth in Caller ID Rules
August 20, 2019FDIC Rule Part 351Effective date of January 1, 2020, and a compliance date of January 1, 2021Final RuleFDIC Approves Interagency Final Rule to Simplify and Tailor the “Volcker Rule”
August 13, 2019FHFANovember 1, 2020PostponementURLA February 1, 2020 Mandate Rescheduled; New Requirements Provided
July 9, 2019Economic Growth, Regulatory Relief, and Consumer Protection Act10/1/2019 and 4/1/2020Final RuleAgencies simplify regulatory capital rules
July 3, 2019Regulation CCEffective dates 9/3/2019 and 7/1/2020Final RuleAvailability of Funds and Regulation CC Final Rule
Highlight reflects a change from the prior Regulatory Calendar.
* Proposed Rules contain notices to the public of the proposed issuance of regulations, and they allow an opportunity for interested parties to provide input. The date in the calendar above is when public comments are due.
Interim Rules are issued without prior notice and are effective immediately; the interim rule is designed to respond to an emergency situation and is usually followed by a final rule document which confirms that the interim rule is final.
Interim Final Rules are final rules having the full force and effect of law. They allow stakeholders to submit comments the agency will consider before deciding whether to issue a revised final rule or confirm the interim final rule as final.
Final Rules are federal agency final rules and regulations that have general applicability and legal effect.
**Rulemaking Proposals generally do not have an effective date, except for the Dodd-Frank proposed regulations because Congress specified the effective date in the legislation.
Guidance is issued by the various regulators. Although a bank cannot be cited for a violation of law for not complying; nevertheless, a regulator can enforce the guidance through other means. The agency guidance included in this calendar are those that have action dates.

February Compliance Monthly Newsletter

By Compliance Monthly Newsletter

CFPB Finalized Changes and Postpones Prepaid Rule The CFPB finalized updates to its 2016 Prepaid Accounts Rule. The changes adjust requirements for resolving errors on unregistered accounts, provide greater flexibility for credit cards linked to digital wallets, and extend the effective date of the rule by one year to April 1, 2019. The CFPB also included other clarifications
and minor adjustments to the rule.

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