CFPB

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[ November 14, 2024 ] Fed’s Kugler becomes latest board member to advocate for continued agency independence The Fed
[ November 14, 2024 ] VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs CFPB
[ November 14, 2024 ] OIG sets 4 recommendations for NCUA’s federal chartering process NCUA
[ November 14, 2024 ] Small FL credit union conserved NCUA
[ November 13, 2024 ] PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds FDIC

Student lending firm ordered to pay $30 million to borrowers for illegal loans, abusive debt collection

November 20, 2023 0

More than $30 million in relief was ordered Monday for student borrowers from a former Delaware company after the federal consumer financial protection agency and 11 states charged the firm with illegal loans and abusive […]

Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications

November 20, 2023 0

Title: Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications Subject: Digital payments; larger market participants Agency: CFPB Status: Proposed rule Summary: The Consumer Financial Protection Bureau (CFPB) proposes a rule to […]

Consumer bureau’s research council set to meet Dec. 1

November 17, 2023 0

General research matters for the Consumer Financial Protection Bureau (CFPB) will be discussed in public Dec. 1 by the agency’s Academic Research Council (ARC), according to a notice in Friday’s Federal Register and on the […]

GAO offers ‘clean’ opinion for CFPB in FY ’23, as agency spent – and collected – billions

November 15, 2023 0

The federal consumer financial protection agency spent $2.75 billion in fiscal year (FY) 2023 to do its work, the congressional watchdog reported Wednesday while also giving the agency a “clean opinion” regarding its financial statements. […]

Online lender fined again – $15 million this time – for violating earlier order, deceiving customers

November 15, 2023 0

An online lender was ordered to pay $15 million for deceiving customers, withdrawing funds without consent and violating an earlier order, the federal consumer financial protection agency said Wednesday. Enova International Inc. of Chicago was […]

Agencies announce new thresholds for Reg Z, Reg M coverage, as well as higher mark for appraisals of higher-priced mortgages

November 13, 2023 0

Consumer credit transactions and consumer leases of $69,500 or less will fall under reporting requirements of Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) in 2024 under new thresholds announced Monday by two […]

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Fed’s Kugler becomes latest board member to advocate for continued agency independence

November 14, 2024 0

Count Federal Reserve Board Gov. Adriana Kugler as an advocate of continued agency independence, who Thursday said that condition is “fundamental” to the Fed achieving good policy. In remarks to a meeting of the Latin American and Caribbean Economic Association [...]
VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

November 14, 2024 0

A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday by the federal consumer financial [...]
OIG sets 4 recommendations for NCUA’s federal chartering process

November 14, 2024 0

Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National Credit Union Administration (NCUA) Office [...]
Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was provided in the NCUA’s evening [...]
PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

November 13, 2024 0

Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer of bank deposits. The report, [...]
Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

November 13, 2024 0

An alert to help financial institutions identify fraud schemes targeting them and that are associated with the use of deepfake media created with generative artificial intelligence (GenAI) tools was issued Wednesday by Treasury’s financial crimes enforcement arm. The Financial Crimes [...]
Two promoted to OCC deputy controllers for large bank supervision

November 13, 2024 0

Two long-time bank examiners – Robert Barnes and Kevin Greenfield – were promoted to the posts of deputy comptrollers for large bank supervision, the Office of the Comptroller of the Currency (OCC) said Wednesday. The OCC said Barnes, a national [...]

Student lending firm ordered to pay $30 million to borrowers for illegal loans, abusive debt collection

Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications

Consumer bureau’s research council set to meet Dec. 1

GAO offers ‘clean’ opinion for CFPB in FY ’23, as agency spent – and collected – billions

Online lender fined again – $15 million this time – for violating earlier order, deceiving customers

Agencies announce new thresholds for Reg Z, Reg M coverage, as well as higher mark for appraisals of higher-priced mortgages

Citibank ordered to pay nearly $26 million for discriminating against Armenian-American credit card applicants

Apple Pay, Google Pay, other ‘Big Tech’ payments firms would face CFPB oversight from proposal

Report outlines state community reinvestment laws, which apply in many cases beyond banks

‘Fast facts’ aim to shed light on who, what, how coverage of proposed ‘personal financial data rights’ rule works

Fed’s Kugler becomes latest board member to advocate for continued agency independence

VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

OIG sets 4 recommendations for NCUA’s federal chartering process

Small FL credit union conserved

PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

Two promoted to OCC deputy controllers for large bank supervision