CFPB

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

New supervisory appeals process includes individual panels of CFPB managers to conduct review

February 16, 2024 0

A revised supervisory appeals process that includes the creation of a committee assigned to deal with each review was announced Friday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) described […]

Large banks offer bad deals on credit cards, including rates and fees; smaller banks, credit union cards cost less, CFPB finds

February 16, 2024 0

Large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk, and the 25 largest credit card issuers charged interest rates eight to 10 percentage […]

10-year case over foreclosure relief scam ends with $12 million settlement including consumer redress, penalties

February 9, 2024 0

A limited liability company and four attorneys have settled an enforcement suit brought by federal regulators in 2014 over a foreclosure relief scam that the consumer financial protection agency said “charged millions of dollars in […]

In ‘proactive step,’ bureau proposes rule to ban rare fees at swipe, tap or click for non-sufficient funds

January 24, 2024 0

Prohibiting non-sufficient funds fees on transactions declined at the same time a user swipes, taps or clicks debit or ATM cards is the aim of a “proactive” new rule proposed Wednesday by the federal consumer […]

CFPB, 7 state AGs sue firm that allegedly collected more than $100 million from consumers in illegal, up-front fees for debt relief services

January 19, 2024 0

A firm called Strategic Financial Solutions (SFS), its shell companies and two key architects of a scheme that amassed the firms allegedly more than $100 million in illegal advance fees from consumers are being sued […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]

New supervisory appeals process includes individual panels of CFPB managers to conduct review

Large banks offer bad deals on credit cards, including rates and fees; smaller banks, credit union cards cost less, CFPB finds

10-year case over foreclosure relief scam ends with $12 million settlement including consumer redress, penalties

In ‘proactive step,’ bureau proposes rule to ban rare fees at swipe, tap or click for non-sufficient funds

CFPB, 7 state AGs sue firm that allegedly collected more than $100 million from consumers in illegal, up-front fees for debt relief services

Bureau’s overdraft fee proposal would limit charges for very large banks; disclosures also required

UPDATED: Bureau issues two advisory opinions under FCRA: on disclosures, background screening

Civil money penalties jacked up under the law, as an inflation result, for new year by CFPB

Long hold times, inaccurate billing statements, more noted in CFPB review of student loan repayment resumption

Filing period for 2023 HMDA data now open, with March 1 submission due date

Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

OCC annual report notes sound banking system, but urges banks to guard against complacency