Key list of upcoming rulemakings
Regulatory Insights
Upcoming rulemakings are distinguished by:
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December 2023
Looking ahead to 2024, federal agencies release their regulatory agendas for bank-related rulemaking and OCC issues its Semiannual Risk Perspectives Report.
The federal banking regulators release their Fall 2023 Regulatory Agendas (including the Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), and the Financial Crimes Enforcement Network (FinCEN)). Notable planned final and proposed rulemakings, as well as related KPMG Regulatory Insights thought leadership, include:
Title | Stage of Rulemaking | Action Date | Related KPMG Regulatory Insights |
---|---|---|---|
Interagency | |||
Quality Control Standards for Automated Valuation Models | Final rule | June 2024 | |
Basel III Revisions: Amendments to the Capital Rule for Large Banking Organizations | Final rule | June 2024 | |
Long-term Debt Requirements for Large Bank Holding Companies and Large Insured Depository Institutions | Final rule | June 2024 | |
Incentive-Based Compensation Arrangements | Proposed rule | December 2023 | |
Joint Data Standards Required by the Financial Data Transparency Act (FDTA) | Proposed rule | June 2024 | n/a |
Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)/Bank Secrecy Act Compliance Programs | Proposed rule | December 2023 | Click here and here |
FRB | |||
Regulation HH – Financial Market Utilities | Final rule | December 2023 | |
FDIC | |||
FDIC Official Sign and Advertising Statement Requirements | Final rule | December 2023 | n/a |
Resolution Plans for $100B+ IDIs | Final rule | June 2024 | |
Consent to Engage in Certain Covered Activities (crypto-related activities, technology innovations to augment delivery channels) | Proposed rule | March 2024 | n/a |
FinCEN | |||
Beneficial Ownership Information Access and Safeguards | Final rule | December 2023 | |
Revisions to Customer Due Diligence Requirements for Financial Institutions (part 3 of 3 BOI rulemakings) | Proposed rule | June 2024 | |
Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Investment Advisers | Proposed rule | February 2024 | n/a |
National Exam and Supervision Priorities (including AML/CFT risk assessment for all FIs) | Proposed rule | March 2024 | n/a |
CFPB | |||
Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders | Final rule | March 2024 | n/a |
Credit Card Penalty Fees | Final rule | December 2023 | |
Mortgage Servicing (forbearance options/programs, loss mitigation) | Proposed rule | March 2024 | n/a |
Overdraft Fees | Proposed rule | December 2023 | |
Fees for Insufficient Funds | Proposed rule | December 2023 |
In a separate release, the OCC published the Fall 2023 edition of its Semiannual Risk Perspectives Report highlighting OCC’s view on key risks and issues facing the federal banking system. The OCC adds (in an accompanying statement), that going forward, the agency “expects to remain diligent and adhere to prudent risk management practices across all risk areas” and to “guard against complacency.”
Key Risks. The OCC identifies trends in four key risk themes:
Key Issues. The OCC highlights additional issues facing the federal banking system, including:
See related KPMG Regulatory Insights materials:
Fall 2023 Regulatory Agendas: Key Federal Banking Agencies
Key list of upcoming rulemakings
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