Amy S. Matsuo
National Leader, Regulatory Insights, KPMG US
The Federal Reserve announced that the CCAR modeling framework will not incorporate the current expected credit losses (CECL) accounting method until after the 2021 cycle.
The Federal Reserve, FDIC, and OCC:
Congress passed and the President signed legislation to reauthorize the NFIP through May 2019.
The partial government shutdown impacts include:
Comptroller Joseph M. Otting was designated Acting Director of the Federal Housing Finance Agency, beginning January 6, when the current director’s term expires.
The CFPB issued final policy guidance on the HMDA data it intends to make publicly available in 2019; modifications include exclusion of the property address and applicant’s credit score as well as the disclosure of ranges rather than specific values for certain data such as the applicant’s age and the amount of the loan.
Treasury issued its National Illicit Finance Strategy identifying priorities, objectives, and areas for improvement.
The Federal Reserve issued a payments study that found increased growth in the number and value of card payments.
Federal Reserve researchers released a working paper that found better capitalized banks have higher loan growth.
FINRA released a report on selected cybersecurity practices, highlighting branch controls, phishing, inside threats, penetration testing, and mobile devices.