CFPB – Page 114 – 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

UPDATED: White House sends nomination of OMB staffer as head of consumer bureau to Senate

June 18, 2018 0

For Kathleen “Kathy” Kraninger, being nominated by the White House as the next permanent director of the Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) is another line of government service on her […]

THIS WEEK: Top bank regulators speak, credit union regulator mulls rules, Powell talks, BCFP nominee deadline

June 15, 2018 0

The coming week brings another deadline for comments in the consumer bureau’s series of “call for evidence” requests for information (RFIs), speeches by the top banking regulators, an open credit union agency board meeting and […]

It’s ‘complaint,’ not ‘compliant,’ bureau notes in correcting its own notice

June 14, 2018 0

What a difference a word makes. Turns out that a request for information (RFI) by the Bureau of Consumer Financial Protection (BCFP) in May had a typo in its headline, resulting in “compliant” being substituted […]

Legal haggling over payday loans keeps rule’s effective date in force

June 14, 2018 0

Legal haggling over the federal consumer financial protection agency’s regulation of payday loans took a new turn in federal court in Texas Tuesday when a district court judge found the regulation’s effective date remains in […]

Firm hit with $5 million penalty for improper collection attempts

June 14, 2018 0

A civil money penalty of $5 million was assessed against a South Carolina firm and subsidiaries for making improper in-person and telephone collection attempts on consumer installment loans and retail sales installment contracts, the Bureau […]

Mulvaney – whose appointment runs to June 22 – expects consumer bureau director nominee by middle of next week

June 13, 2018 0

Look for the White House to unveil its nominee for a permanent director of the federal consumer financial protection agency by the middle of next week, the current acting director said Tuesday – although his […]

Bureau puts its sign where acting director’s mouth is – ‘bcfp’ now graces lobby of headquarters

June 12, 2018 0

An outward sign of the name change at the federal consumer financial protection agency has literally come to pass – with a new emblem emblazoned on the agency’s headquarters. Monday, a sign using the acronym […]

‘Rulemaking processes’ generates 71 comments in bureau’s series of ‘requests for information’

June 8, 2018 0

A “request for information” about the rulemaking processes of the federal consumer financial agency generated just more than 70 comments at the close of the comment date – one of the lesser volumes of letters […]

Christmas in June? Bureau report looks at credit card use in holiday spending

June 8, 2018 0

End-of-year credit card borrowing and repayment of credit card balances in the new year is the focus of the bureau’s latest quarterly consumer credit trends report, released Friday by the federal consumer financial protection agency. […]

Industry groups back commission, congressional budget oversight for consumer bureau

June 6, 2018 0

Changing its governance to a commission rather than a single director, and giving Congress control over its budget, were two recommendations business and banking groups had for increasing the transparency and accountability of the federal […]

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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 [...]