January 2018 – Page 8 – Regulatory Report

What's up

[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech CFPB
[ December 23, 2024 ] Scheme to illegally steer business to Rocket Mortgage draws CFPB suit CFPB
[ December 23, 2024 ] Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA OCC
[ December 23, 2024 ] OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks OCC
[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB

Long-time economic, policy analyst to take reins of key office for national bank regulator

January 2, 2018 0

A veteran regulator and banker will be the next deputy comptroller of the currency for economic and policy analysis, the federal regulator of national banks announced Tuesday. Norman Williams will succeed the retiring Gary Whalen […]

Fed wants to clarify which motor vehicle dealers are covered under its Reg M – and which are not

January 2, 2018 0

Clarifications about which motor vehicle dealers are subject to the Federal Reserve’s Regulation M – or which are subject to the federal consumer bureau’s rules under the Consumer Leasing Act (CLA) – are being proposed […]

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Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

December 23, 2024 0

One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” the federal consumer financial protection [...]
Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

December 23, 2024 0

Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, [...]
Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

December 23, 2024 0

Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made public Monday. The Office of [...]
OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks

December 23, 2024 0

Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, starting Jan. 1, a bank [...]