CFPB – Page 12 – Regulatory Report

What's up

[ March 12, 2025 ] Office hours focusing on topics of crypto, fintechs, innovation set for May by OCC OCC
[ March 11, 2025 ] FinCEN order ramps up CTR filing by money services businesses in certain CA, TX border areas Other
[ March 11, 2025 ] Credit unions see sharp jump in delinquencies, ROAA decay for 2024 NCUA
[ March 11, 2025 ] First new federal credit union of 2025 will serve portion of Harris County, TX NCUA
[ March 10, 2025 ] OCC reverses recent course on crypto activities making range of activities permissible OCC

CFPB circular focuses on potential for CFPA violation by digital comparison-shopping tool operators

February 29, 2024 0

Digital comparison-shopping tool operators that give preference to financial products based on benefits to themselves are in violation of the Consumer Financial Protection Act (CFPA), the federal consumer financial protection agency said Thursday. The Consumer […]

Comments on overdraft proposal for ‘very large’ banks due April 1

February 23, 2024 0

April 1 is the public comment deadline for a proposed rule that would limit overdraft fees charged by “very large” financial institutions, or those with $10 billion or more in assets, according to a notice […]

Consumer bureau’s credit union council set to meet March 8

February 23, 2024 0

The consumer financial protection agency’s Credit Union Advisory Council (CUAC) is set to hold a public meeting March 8 from about 1-3:15 p.m. Eastern, according to the agency’s website and a notice in Friday’s Federal […]

New supervisory appeals process includes individual panels of CFPB managers to conduct review

February 16, 2024 0

A revised supervisory appeals process that includes the creation of a committee assigned to deal with each review was announced Friday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) described […]

Large banks offer bad deals on credit cards, including rates and fees; smaller banks, credit union cards cost less, CFPB finds

February 16, 2024 0

Large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk, and the 25 largest credit card issuers charged interest rates eight to 10 percentage […]

10-year case over foreclosure relief scam ends with $12 million settlement including consumer redress, penalties

February 9, 2024 0

A limited liability company and four attorneys have settled an enforcement suit brought by federal regulators in 2014 over a foreclosure relief scam that the consumer financial protection agency said “charged millions of dollars in […]

In ‘proactive step,’ bureau proposes rule to ban rare fees at swipe, tap or click for non-sufficient funds

January 24, 2024 0

Prohibiting non-sufficient funds fees on transactions declined at the same time a user swipes, taps or clicks debit or ATM cards is the aim of a “proactive” new rule proposed Wednesday by the federal consumer […]

CFPB, 7 state AGs sue firm that allegedly collected more than $100 million from consumers in illegal, up-front fees for debt relief services

January 19, 2024 0

A firm called Strategic Financial Solutions (SFS), its shell companies and two key architects of a scheme that amassed the firms allegedly more than $100 million in illegal advance fees from consumers are being sued […]

Bureau’s overdraft fee proposal would limit charges for very large banks; disclosures also required

January 17, 2024 0

Overdraft fees would be limited for very large banks – those with $10 billion or more in assets – to no more than $14 or less under a new rule proposed Wednesday by the federal […]

UPDATED: Bureau issues two advisory opinions under FCRA: on disclosures, background screening

January 11, 2024 0

A consumer does not need to use specific language to trigger a consumer reporting agency’s file disclosure requirements, according to an advisory opinion issued Thursday by the federal consumer financial protection agency. The agency also […]

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Office hours focusing on topics of crypto, fintechs, innovation set for May by OCC

March 12, 2025 0

Virtual office hours focusing on technology and innovation – particularly about such topics as cryptocurrency and relationships between banks and financial technology companies (fintechs) — are set for May 6-8 by the national bank regulator, the agency said Wednesday. The [...]
FinCEN order ramps up CTR filing by money services businesses in certain CA, TX border areas

March 11, 2025 0

Treasury’s financial crimes enforcement arm on Tuesday issued a geographic targeting order (GTO) that ramps up currency transaction report (CTR) filing requirements, setting a $200 threshold, for money services businesses (MSBs) along portions of the southwest border. The order applies [...]
Credit unions see sharp jump in delinquencies, ROAA decay for 2024

March 11, 2025 0

Delinquencies at credit unions in 2024 rose by 15 basis points (bp), to 0.98% of loans, compared to the previous year, their federal regulator said Tuesday in releasing year-end financial performance statistics. National Credit Union Administration (NCUA) Board Chairman Kyle [...]
First new federal credit union of 2025 will serve portion of Harris County, TX

March 11, 2025 0

Heritage Hub Federal Credit Union of Houston, Texas, will open its doors in mid-2025 to primarily serve people who live, work, worship, or attend school in an 84-census-tract community within Harris County, the federal agency that regulates credit unions said [...]
OCC reverses recent course on crypto activities making range of activities permissible

March 10, 2025 0

Banks may engage in “a range of cryptocurrency activities” now deemed permissible by the national bank regulator, the agency said late Friday. In a release (and interpretive letter 1183 to banks) the Office of the Comptroller of the Currency (OCC) [...]
Banking agencies note rising risks for leveraged loans, stressed borrowers

March 10, 2025 0

Credit risk associated with large, syndicated bank loans as of June 30, 2024, remained moderate, banking regulators said Monday in their assessment of risk in the largest and most complex credit facilities shared by regulated banks and nonbanks, but they [...]