CFPB – Page 109 – Regulatory Report

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[ 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

Consumer bureau proposes ‘disclosure sandbox’ to encourage test programs

September 7, 2018 0

Participants in a new “disclosure sandbox” proposed by the federal consumer financial protection bureau will receive waivers from usual federal disclosure requirements and self-report material changes in consumer complaint patterns to the bureau, according to […]

Bureau notes violations in loan servicing, credit cards; adds small-business lending to report

September 6, 2018 0

Supervisory and examination findings regarding compliance, and noncompliance, with federal consumer financial protection laws are cited in a six-month report that also, for the first time, looks at small-business lending. In its latest Supervisory Highlights […]

Bureau renewing info collections related to mortgages, consumer leasing

September 5, 2018 0

Four information collections under rules of the Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) are up for revision, without any change, according to the bureau, which says it’s accepting public comments on […]

BCFP rule interprets, clarifies recent reform law’s partial HMDA exemptions

August 31, 2018 0

A final interpretive and procedural rule to “implement and clarify” the partial exemptions from requirements of the Home Mortgage Disclosure Act (HMDA) in the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) […]

BCFP councils now limited to 6 members each, new recently posted charters show

August 28, 2018 0

Three advisory panels established under the 2010 financial reform law that also created the Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) have been pared down in membership slots to six each, according […]

Consumer bureau’s top student loan watchdog resigns, says bureau has ‘abandoned’ consumers

August 27, 2018 0

The student loan ombudsman for the Bureau of Consumer Financial Protection (BCFP) on Monday stated in a letter of resignation to Acting Director John (“Mick”) Mulvaney that the bureau under Mulvaney’s leadership no longer protects […]

RR post-break wrap-up: OCC clarifies CRA rating policy, Fed fines Citigroup, BCFP settles with Hydra Group; and more

August 24, 2018 0

Regulatory Report took a week-long break from Aug. 10 to Aug. 17, but the news didn’t. Here is a wrap-up of some of the key developments during the period. OCC policy on CRA clarified, leaving […]

Reg thresholds for mortgage and credit card disclosures, fees revised for 2019

August 24, 2018 0

All but one of the regulatory thresholds on what fees are allowed and which loans get special protections under the Truth in Lending Act (TILA), Credit Card Accountability Responsibility and Disclosure Act (CARD Act) and […]

Study finds little consumer concern for ‘pink tax,’ although some disparities exist

August 23, 2018 0

Limited consumer concerns based on gender-related pricing differences – termed a “pink tax” – were identified by the federal consumer financial protection agency and two other federal, non-financial regulatory agencies, a new report released Thursday […]

Nominee for consumer director moves forward after partisan committee vote of 13-12

August 23, 2018 0

The nomination of the next director of the federal consumer financial protection agency was recommended favorably, narrowly and along partisan lines (and after withering criticism by Democrats) by a Senate committee Thursday. The next step […]

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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 [...]