Second Quarter Compliance Forum - Southwest & Zoom

Compliance Lawsuits Update

1. Community Reinvestment Act Modernization – Where are We? 
2. Update on DFA Sections 1071 and 1033
3. BSA Beneficial Ownership Lawsuits

Compliance Hot Spots

1. Cybersecurity Challenges
2. FRB Consumer Compliance Outlook Priorities and 2024 Consumer Compliance Outlook
3. CFPB 2023 Consumer Response Annual Report 
4. FDIC Publishes Spring 2024 Consumer Compliance Supervisory Highlights 
5. CFPB Latest Compliance Supervisory Highlights – Mortgage Servicing
6. OCC Semiannual Risk Perspective
7. Private Flood Insurance Policies – FRB Consumer Compliance Outlook 2024

Fair Lending Continues as High Priority

1. HUD Awards over $30 million under its Fair Housing Initiatives Program (FHIP)
2. Latest DOJ Redlining Initiatives and Focal Points
3. FFIEC New Exam Principles on Valuation Discrimination and Bias in Residential Lending
4. DOJ, CFPB and FTC Annual Reports to Congress on ECOA Enforcement

White House, FTC and CFPB Continue Scope Creep on Junk Fees Initiatives

1. CFPB’s Price Complexity Analyses 
2. CFPB Bans Excessive Credit Card Late Fees and Focusing on Mortgage Fees
3. CFPB Guidance to Rein in Rigged Comparison-Shopping Results 
4. New White House Strike Force for Competition and Junk Fees Announced

Bank Secrecy Act and Fraud

1. FDIC FIL-15-2024 re: Customer Identification Program (CIP) Rule
2. FinCEN Requests Comments on TIN Collection Under CIP Rule
3. FinCEN Notice of Appeal Regarding the Corporate Transparency Act (CTA) 
4. FinCEN Financial Trend Analysis on Elder Financial Exploitation
5. FBI 2023 Elder Fraud Report

Enforcement Action Trends

Watching the Horizon for Upcoming Concerns