FDIC

Attorneys examine US regulator moves to finalize rules, plus expectations and efforts of the compliance community in preparing for them.

The guidance reflects the agencies’ supervisory oversight and their examinations of financial institutions’ third-party risk management practices.

Document answers two new FAQs and updates another, addressing CIPs and use of government-issued verifiable digital credentials.

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The main message: Banks need to take certain precautions when discussing information that could reveal the existence of a SAR.

The changes are intended to give banks clearer standards for how examiners will look for violations and mitigate administrative burden.

Several US agencies rescinded Interagency Statement to clarify lenders “can’t discriminate against borrowers based on prohibited characteristics.”

The new process would give prospective banks an earlier indication that their application is likely to be approved.