National banks continue to ease underwriting practices – raising their risk — to address competition from other bank and non-bank lenders, while also facing concerns about operational risk (due to cybersecurity threats, and others) and […]
Nearly 40 percent of federal student loan borrowers age 65 and older were in default in 2015, according to a report released today by the CFPB, as many borrowers deal with payments on student loans […]
Changes to the NCUA’s quarterly call report and credit union profile – in particular, to capture information about member business loans/commercial lending – have been proposed by the agency in a Federal Register notice. Comments […]
Declaring that two credit rating agencies “lured consumers into costly recurring payments for credit-related products with false promises,” the CFPB Tuesday ordered Equifax, Inc., and TransUnion to pay fines and restitution totaling $23.1 million and […]
Regulators had issued final rules for about 75% of the 236 provisions of the Dodd-Frank Act monitored by the Government Accountability Office (GAO) as of December, according to a Dec. 29 report by the congressional […]
National banks and federal savings associations (FSAs) are prohibited as of April 1 from dealing or investing in industrial or commercial metals under a rule finalized Dec. 28 by the OCC. According to an OCC […]
Collection of information related to garnishment of accounts containing federal benefit payments is under review by the Treasury, with comments due by March 6. The review is part of Treasury’s routine “paperwork and respondent burden” […]
“Small banks” are defined as those with assets of less than $1.226 billion, and “intermediate small banks” (or savings associations) are defined as those with assets of at least $307 and less than $1.226 billion, […]
Attempts to collect on a debt that has already been paid is the source of the most common complaint about collections, according to the CFPB’s latest monthly complaint snapshot released Dec. 27. According to the […]
Suggested steps for management to consider in preparation for implementation of the new current expected credit loss (CECL) accounting standard are among the items listed in a “frequently asked questions” document issued Dec. 19 by […]
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