Risk and Compliance Roundup
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???In the News
Risk and compliance stories we're following
FHFA Issues Guidance on Mortgage Servicing Rights for Managing Counterparty Credit Risk
Source: ABA
The Federal Housing Finance Agency released an advisory on the valuation of mortgage servicing rights for managing counterparty credit risk.
New York Financial Regulator Notches $100 Million Settlement With Coinbase?
Source: WSJ
A $100 million settlement made public by the New York State Department of Financial Services on Wednesday underscores the agency’s intent to set the regulatory agenda for digital currencies.
OCC Issues Revisions to Fair Lending Booklet
Source: Compliance Alliance
The “Fair Lending” booklet provides information and examination procedures to assist OCC examiners in assessing fair lending risk and evaluating compliance with the Fair Housing Act.
OFAC Issues Civil Penalties Adjustments
Source: Bankers Online
OFAC has posted a Notice it is amending its regulations to implement 2023 the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended.
???FinTech Updates
Latest Financial Technology (FinTech) trends
Nuvei to Acquire Paya for $1.3 Billion
Source:?FinTech Futures
Canadian fintech firm Nuvei has entered a definitive agreement to buy US payments and commerce solutions provider Paya for approximately $1.3 billion in cash.
Bank Trade Groups Blast SBA’s FinTech Proposal
Source: Banking Dive
A new proposal to allow fintechs to participate in the SBA’s flagship loan program is drawing strong pushback from bank trade groups who argue the move would threaten the integrity of the program and harm borrowers.
The Regulations to Keep an Eye on 2023
Source: FinTech Global
With cryptocurrency regulation and digital technologies high up the list of key areas for regulation this year, FinTech Global has looked at some of the most important regulations set to be rubber-stamped or moved forward this year.
???Executive Moves
Key risk and compliance hires
First Sentier Investors Picks Chief Risk Officer
Source:?Pensions & Investments
Jane Daniel has been appointed chief risk officer at First Sentier Investors, effective Jan. 1.
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Blue Foundry Bancorp Names Elizabeth Varki Jobes, Esq. to the Board of Directors
Source: Globe Newswire
Blue Foundry Bancorp announced the appointment of Elizabeth Varki Jobes, Esq. as a Director, effective immediately.
CPP Investments Chooses Chief Risk Officer
Source: Pensions & Investments
Kristen Walters has been appointed senior managing director and chief risk officer at Canada Pension Plan Investment Board, Toronto, effective Jan. 9.
???What's Trending
Best of?social media
OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations?
Source: OCC (Twitter)
OCC released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period September 1, 2022, through November 30, 2022.
FDIC Gives $5.2 Billion Columbia-Umpqua Deal Its Final Sign-off
Source: Banking Dive (Twitter)
The biggest pending U.S. banking merger not involving a Canadian buyer is expected to be complete by the end of February.
FTC Proposes to Regulate Virtually Every Labor Relationship in the United States
Source: JD Supra (Twitter)
Last week, the Federal Trade Commission revealed what it meant when it vowed to be more than an antitrust and consumer protection agency.
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Source: 360factors (LinkedIn)
The Predict360 Policy Management system has been designed to ensure that all the important company documents are protected, managed, and accessible.
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