CFPB – Page 110 – Regulatory Report

What's up

[ 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

THIS WEEK: BCFP nomination hearing, Fed chief testimony dominate busy week

July 13, 2018 0

A hearing on a high-profile nomination and testimony (twice) from the leader of the nation’s central bank are among the highlights of this week’s activities affecting federal financial institution regulation. The nomination of Kathleen “Kathy” […]

Debt collection firm, former CEO hit with penalties for harming consumers

July 13, 2018 0

A Kansas-based debt collection company and its former chief executive and part owner have been assessed penalties of $3 million each for unlawful debt collection acts and practices, harming consumer, the federal consumer financial protection […]

Banking committee schedules July 19 hearing for BCFP director nominee Kraninger

July 13, 2018 0

A hearing on the nomination for the next – and permanent — director of the federal consumer financial protection agency has been set for Thursday by the Senate Banking Committee. Kathleen “Kathy” Kraninger was nominated […]

Senate Banking reviews Fair Credit Reporting Act, looks past S. 2155 credit freeze measure

July 12, 2018 0

A hearing Thursday by the Senate Banking Committee that included testimony from the Bureau of Consumer Financial Protection (BCFP) and Federal Trade Commission (FTC) evidenced ongoing concerns regarding the security of the data collected by […]

83 comments received on bureau’s ‘financial education programs’ RFI; one RFI to go

July 10, 2018 0

A total of 83 comment letters were received on the consumer financial protection bureau’s request for information (RFI) on its financial education programs as of midnight Monday, the close of the public comment period, according […]

With deputy director resignation, consumer bureau acting director appoints acting deputy director

July 9, 2018 0

Brian Johnson is the new acting deputy director for the federal consumer financial protection agency, taking the place of the former incumbent who officially resigned Monday. Johnson was selected for the position by Bureau of […]

House to take up measure giving charities relief from TRID disclosure forms for 0% mortgage loans

July 9, 2018 0

Legislation that calls for the federal consumer financial protection agency to rewrite its rules for disclosures about mortgage loans at zero percent interest made by charities such as Habitat for Humanity and others will be […]

By dropping lawsuit and resigning, English closes chapter in drama over consumer bureau’s leadership

July 9, 2018 0

The deputy director of the federal consumer financial protection agency will resign her position – perhaps as early as Monday – and has dropped her legal challenge to be the temporary leader of the agency, […]

NEXT WEEK: FDIC leaders, past/present, speak; RFI no. 11 comments due; FCRA testimony presented

July 6, 2018 0

The current and immediate past chairmen of the federal bank deposit insurance agency will open and close – respectively – a gathering of community bankers that is sponsored by the agency, one of a handful […]

Agencies offer joint statement on HMDA exemptions resulting from reg relief legislation

July 5, 2018 0

Partial exemptions for some financial institutions from certain Home Mortgage Disclosure Act (HMDA) requirements resulting from regulatory relief legislation enacted in May are outlined in a joint statement issued Thursday by federal financial institution regulators. […]

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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 [...]