On December 15, 2022, the FFIEC Task Force on Consumer Compliance adopted the revised examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its implementing regulation, Regulation F. The revised interagency examination procedures incorporate the Consumer Financial Protection Bureau’s 2020 and 2021 Fair Debt Collection Final Rules that went into effect on November 30, 2021.

On December 15, 2022, FinCEN issued a Notice of Proposed Rulemaking (NPRM) that would implement provisions of the Corporate Transparency Act (CTA) that govern the access to and protection of beneficial ownership information. The proposed rule is one of three rulemakings planned to implement the CTA, and follows the final reporting rule that FinCEN issued on September 30, 2022.

On December 13, 2022, the FDIC issued the revised Guidelines for Appeals of Material Supervisory Determinations that took effect on the same day. The revised Guidelines include the changes that the FDIC proposed in October, as well as further changes incorporating suggestions and addressing concerns raised by the commenters.

On December 13, 2022, the FDIC Board of Directors issued for public comment a proposed rule to amend part 328 of its regulations to modernize the rules governing use of the official FDIC sign and advertising statements and clarify the FDIC’s regulations regarding misrepresentations of deposit insurance coverage. According to the FDIC, the proposal is intended to enable consumers to better understand when they are doing business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage.

On December 2, 2022, the Federal Reserve Board invited public comment on proposed principles providing a high-level framework for the safe and sound management of exposures to climate-related financial risks for large banking organizations. According to the FRB, the proposed principles would apply to banking organizations with more than $100 billion in total assets and address both the physical risks and transition risks associated with climate change.

On December 8, 2022, the OCC released the Fall 2022 edition of its publication Semiannual Risk Perspective. This edition reports key issues facing the banking industry and the lingering effects from the pandemic and shocks from Russia’s invasion of Ukraine on the industry. According to the report, economic growth slowed sharply in 2022, while high employment rates supported consumer spending and overall bank performance.