CFPB – Page 115 – 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

RFIs generate 3,000-plus letters so far; ‘Civil Investigative Demands’ accounts for 3 in every 4

May 9, 2018 0

More than 3,000 comment letters have been submitted on the dozen “requests for information” issued by the federal consumer financial protection agency since January – but more than three out of every four letters address […]

UPDATED: House passes measure repealing CFPB indirect auto lending guidance

May 8, 2018 0

The House, voting 234 to 175, on Tuesday adopted a Senate-passed resolution to repeal 2013 guidance from the Bureau of Consumer Financial Protection (BCFP) on indirect auto lenders’ compliance with federal fair lending requirements. The […]

Community Bank Council meeting to consider Reg E, debt collection, HMDA and more

May 8, 2018 0

A broad array of subjects – including the Home Mortgage Disclosure Act (HMDA), the Electronic Fund Transfer Act (Regulation E), debt collection, and mortgage origination – are on the agenda for the meeting of the […]

Tuesday House vote slated on repeal of BCFP indirect auto-loan guidance

May 7, 2018 0

The House is scheduled to vote as early as Tuesday on a Senate-passed resolution to repeal 2013 guidance from the Bureau of Consumer Financial Protection (BCFP) on indirect auto lenders’ compliance with federal fair lending […]

House setting stage for action next week on repeal of bureau’s indirect auto-loan guidance

May 3, 2018 0

A resolution passed last month by the Senate to repeal 2013 guidance – now deemed a rule – on indirect auto lenders’ compliance with federal fair lending requirements appears to be headed for House action […]

Comments to CFPB research council still welcome

May 2, 2018 0

Those interested can still send their comments to the Consumer Financial Protection Bureau (CFPB) Academic Research Council on the bureau’s methodology and direction for consumer finance research. The council held a public meeting today, but […]

OMB staffer named in charge of consumer bureau’s communications after serving dual role since November

April 30, 2018 0

John Czwartacki has been named chief communications officer and spokesman for the Bureau of Consumer Financial Protection (BCFP), the agency said in release Monday. According to the bureau, in November Czwartacki (a staff member for […]

HMDA, ‘requests for information’ on agenda for bureau’s credit union council

April 30, 2018 0

The Home Mortgage Disclosure Act (HMDA), and several of the recent “requests for information” prompted by Acting Director Mick Mulvaney in his quest for “evidence” that the agency is working toward its mission, will be […]

‘Call for evidence’ RFIs on agenda for May CFPB advisory board panel meetings

April 27, 2018 0

Two subcommittees of an advisory panel to the federal bureau charged with consumer financial protection are slated to meet by teleconference May 10 and 22 on requests for information (RFIs) issued under the bureau director’s […]

CFPB removes closing disclosure timing restriction in ‘Know Before You Owe’ mortgage disclosure rule

April 26, 2018 0

As proposed last July, a timing restriction for mortgage closing disclosures that could prevent a lender from charging otherwise valid closing cost increases was removed today from the federal consumer protection agency’s “Know Before You […]

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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 [...]