Board Actions

Actions taken during the week ending November 21, 2020

Regulations and Policies

Community Banking Organizations -- interagency interim final rule with request for comment to provide temporary relief to certain community banking organizations from certain regulations and reporting requirements as a result, in large part, of their growth in size from the COVID response.
-Approved, November 16, 2020

Privacy Act -- final rule to designate BGFRS-43 (Security Sharing Platform) as an exempt system of records.
-Published, November 19, 2020

Regulation TT (Supervision and Regulation Assessments of Fees) -- final rule to modify the annual assessment fees for supervision and regulation of large financial companies, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act.
-Approved, November 12, 2020
(A/C)

Supervision and Regulation

Bank Secrecy Act (BSA) -- interagency fact sheet to clarify BSA due diligence requirements for banks and credit unions that offer services to charities and non-profits.
-Announced, November 19, 2020

Enforcement

Craco, Inc., Vinita, Oklahoma -- written agreement with the Federal Reserve Bank of Kansas City.
-Announced, November 19, 2020