Weekly Regulatory Deadlines | June 03 to June 09
Regulatory Notice 20-11 FINRA Amends Arbitration Code to Expand Options Available to Customers if a Firm or Associated Person Is or Becomes Inactive Effective Date: June 29, 2020
FINRA | Securities | Notices
US regulator invites Banking and Crypto industry leaders for partnership
The Office of the Comptroller of the Currency (OCC) in America, on June 4, announced that it was working with banks and crypto firms on improving the technological cooperation in the financial system...
The Digital COVID Cure
Remember when omnichannel was “the thing” that would save retail? More recently it’s been payments choice. As summer 2020 gets underway and reopening along with it, digital as a way of operating smarter and faster … without having to touch anything … is the surest bet now. “States across the U.S. are following through with...
CFPB Issues Updated CHARM Booklet
Consumer Finance Monitor 06/09/2020
The CFPB recently announced the availability of an updated Consumer Handbook on Adjustable Rate Mortgages, often referred to as the “CHARM booklet.” The Federal Register notice regarding the public availability of the updated booklet is available here. The biggest difference in the updated booklet is its size. The prior version issued in 2014 is 41...
Multimillion-dollar mortgage fraud alleged in Oklahoma City
National Mortgage News 06/09/2020
A federal grand jury indicted Ronald J. McCord, 69, of Oklahoma City, on charges of defrauding two banks, Fannie Mae, and others of millions of dollars, money laundering, and making a false statement to a financial institution, said Timothy J. Downing, U.S. attorney for the Western District of Oklahoma...