Crypto investment scams cost Americans billions of dollars. The scammers start small with confidence or romance scams and gradually work their way up to demanding ever larger "investments." On this episode of the ABA Banking Journal Podcast, officials from the FBI’s Criminal Investigative Division and the Commodity Futures Trading Commission break down how these scams work, typologies and red flags bankers should look out for and how banks can build proactive partnerships with law enforcement.

Recent enhancements to the Nationwide Multistate Licensing System have introduced a new login process for NMLS users, including state-licensed and federally registered mortgage loan originators, according to the Conference of State Bank Supervisors.

The ABA and five other industry associations today urged the Consumer Financial Protection Bureau to rescind its Sept. 17 circular that imposes new expectations on banks with respect to their practices for recording and retaining their customers’ "opt-in" to the institution’s overdraft program for one-time point-of-sale debit card purchases and ATM transactions.

The Federal Housing Finance Agency has issued a notice of proposed rulemaking that would make substantial changes to the governance structure of the 11 Federal Home Loan Banks, including requiring the banks to adopt conflict of interest policies.

The Office of the Comptroller of the Currency has issued its final rule to expand its enforceable recovery planning guidelines to national banks, federal savings associations and federal branches with at least $100 billion in assets, down from the current limit of $250 billion.

Fifty-two state bankers associations urged the Federal Communications Commission to issue new rules to help stem the flow of illegal texts and calls to consumers. The rules had been scheduled to be considered during the FCC’s meeting on Sept. 26 but were removed from the agenda two days before the meeting.

The ABA said that it supports an application by the Financial Data Exchange, or FDX, to become a recognized standard-setting body under the Consumer Financial Protection Bureau’s proposed financial data-sharing regulation.

The Financial Crimes Enforcement Network announced it has renewed geographic targeting orders, or GTOs, that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.

The FDIC board unanimously voted to extend the compliance deadline by four months for its final rule on the use of the agency’s name and logo by financial institutions. The new deadline is May 1, 2025.

October 27 - 29
Conference: ABA Annual Convention
New York Hilton Midtown, New York, NY

October 28 - November 13
Virtual School: Compliance School – Foundational

October 28 - January 3, 2025
Facilitated Training: Managing Interest Rate Risk

October 29
Webinar: Reconsiderations of Value: Stay in the Know

October 31
Webinar: Hot Topics in Sanctions Requirements and Enforcement Actions

November 13
Webinar: Investing in Innovation: CAFE Fintech Accelerator

November 13
Webinar: Navigating the Intersection of Cyber Risk Management and Governance

November 20
Webinar: Critical Risk Conversations – Part 4

December 10
Webinar: A Data-Driven Approach for Optimizing Enterprise Risk Reporting