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Entries in Safety & Soundness (24)


Federal Agencies Publish Guidance on Leveraged Lending

The FDIC, Federal Reserve, and OCC have issued joint guidance on the practice of leveraged lending (the “Guidance”). Although definitions of “leveraged lending” vary, generally speaking the practice involves the making of loans to highly-leveraged commercial borrowers or the making of loans to borrowers for the purpose of buyouts, acquisitions, or capital distributions.

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CFPB Issues Guidance on Transfers of Residential Mortgages to Third-Party Servicers

The Consumer Financial Protection Bureau (“CFPB”) recently issued guidance regarding its expectations for when residential mortgage loans are transferred to mortgage servicers and subservicers (the “Guidance”). Servicing transfers of mortgages and mortgage portfolios are a common practice, with mortgage lenders outsourcing servicing duties (such as loan payment collection and processing) to a third-party vendor.

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FFIEC Proposes Compliance and Risk Management Guidance for Social Media Use

The Federal Financial Institutions Examination Council (“FFIEC”) has issued proposed guidance on compliance issues and risk management in the use of social media (the "Proposed Guidance"). The term "social media" as used in the Proposed Guidance applies to "interactive online communication" where users "generate and share content." (i.e., Facebook, Yelp, LinkedIn, YouTube, etc.) Financial institutions are increasingly using social media to generate new business and develop stronger relationships with customers. The Proposed Guidance is intended to assist financial institutions in identifying and addressing potential areas of risk, including compliance, legal, operational and reputational risk...

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FDIC Eases Standards for De Minimis Criminal Convictions Under Section 19

Section 19 of the Federal Deposit Insurance Act requires FDIC-insured institutions to obtain prior written consent from the FDIC before employing persons who have been convicted of or entered into a pre-trial diversion program for criminal offenses involving dishonesty, breach of trust, or money laundering. An exception to this requirement exists, however, for certain types of de minimis offenses, for which prior written consent is not required.

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FDIC Launches Regulatory Calendar for Community Banks

The Federal Deposit Insurance Corporation (FDIC) recently announced the official launch of its Regulatory Calendar for Community Banks.  The online calendar is intended to help community banks stay up-to-date with changes in federal banking laws, regulations, and supervisory guidance.  The calendar will include notices of rulemakings, effective dates for regulations, and guidance issued by various federal regulators of interest to FDIC-regulated entities.  The calendar will also provide information on FDIC outreach initiatives and other regulatory information of interest.  Links to underlying documents and resources will be provided in the calendar entries.  The calendar release follows the FDIC’s publication of an earlier beta version last summer that was used to solicit public feedback.