CFPB – Page 119 – 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

FAQs help set the stage for April 19 compliance with mortgage servicing rules revisions

March 21, 2018 0

Mortgage servicing rules “frequently asked questions” — largely dealing with issues related to bankruptcies – about compliance with revised rules effective April 19 were published by the federal consumer protection bureau Tuesday. The FAQs issued […]

CFPB, FTC report to Congress on fair debt collection law activities

March 20, 2018 0

The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) on Tuesday sent Congress a report on their 2017 activities to combat illegal debt collection practices. The report on the agencies’ administration of the […]

Consumer bureau seeks applicants to consumer advisory board, community bank and credit union councils

March 15, 2018 0

The Consumer Financial Protection Bureau (CFPB) – the federal agency charged with writing and enforcing federal consumer financial protection rules under the Dodd-Frank financial reform law – is inviting applications for membership on three advisory […]

[UPDATED] Latest bureau RFI looks at adopted rules – but not HMDA reporting, or payday lending

March 14, 2018 0

Adopted regulations and new rulemaking authorities are the latest topics for a “request for information” (RFI) – the eighth in the series of an expected dozen – issued by the federal consumer protection agency March […]

Users of ‘RushCard’ pre-paids from 2015, check your mail: a check is on its way

March 13, 2018 0

If you had a RushCard in October 2015 (and you don’t any longer) check your mail: the federal consumer protection bureau said Tuesday you were sent a check. The Consumer Financial Protection Bureau (CFPB) said […]

[UPDATED] Consumer bureau revises mortgage servicer rule on statements for bankrupt borrowers

March 8, 2018 0

The Consumer Financial Protection Bureau (CFPB) on Thursday issued a final rule to simplify statement requirements for mortgage servicers working with borrowers in bankruptcy. The revisions, which change provisions in the bureau’s 2016 rule for […]

[UPDATED] Consumer protection bureau RFI targets rulemaking processes

March 7, 2018 0

Announcing its seventh request for information (RFI) regarding its own processes, the Consumer Financial Protection Bureau (CFPB) on Wednesday invited input from the public on the discretionary aspects of the bureau’s rulemaking processes. June 7 […]

House gives nod to regulatory review bill, calling for evaluation every seven years (rather than 10)

March 7, 2018 0

Legislation expanding the frequency, scope and coverage of annual regulatory reviews by the federal financial institution regulators was easily passed by the House Tuesday, 264 – 143. The Comprehensive Regulatory Review Act (H.R. 4607) would […]

Consumer bureau schedules community bank council meeting on ‘call for evidence,’ HMDA

March 5, 2018 0

The advisory group of community banks for the federal consumer protection agency will hold its first meeting of 2018 later this month, largely to review the recent calls for “evidence” by the agency and other […]

‘Usefulness’ of consumer complaint reporting the 6th info request in Mulvaney’s search for ‘evidence’ of how CFPB does its job

March 1, 2018 0

“Usefulness” of complaint reporting and analysis, and specific suggestions for best practices for doing so, are the subjects of the sixth and latest “request for information” (RFI) Thursday by the Consumer Financial Protection Bureau (CFPB). […]

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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 [...]