CFPB – Page 121 – Regulatory Report

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[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other

Mnuchin: Equifax breach is ‘something I am going to discuss’ with CFPB’s acting director

February 6, 2018 0

The massive data breach at the Equifax credit reporting agency is something the Treasury secretary said he intends to bring up with the acting director of the federal consumer protection bureau, during questions and answers with […]

Acting director makes appointment of chief of staff official

February 6, 2018 0

Kirsten Sutton Mork is the next chief of staff for the Consumer Financial Protection Bureau (CFPB), the agency stated in a press release Tuesday, filling a role that was most recently held by the bureau […]

‘Administrative adjudication’ rules, procedures are second request for ‘evidence’ by consumer bureau

January 31, 2018 0

“Administrative adjudications” are the subject of the second “request for information” (RFI) issued by the federal consumer protection agency in its own search of “evidence” of whether or not it is accomplishing its mission. The […]

Appeals court panel of judges affirms independence of CFPB 7-3, overturning 2016 decision

January 31, 2018 0

A panel of federal appeals court judges has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional – overturning an earlier decision in the U.S. Court of Appeals for the D.C. Circuit […]

GAO faults regulators for falling behind on analyzing impact of rules on small entities

January 30, 2018 0

Financial regulators should develop and implement specific policies and procedures to consistently comply with mandates from Congress for analyzing the impact of regulations on smaller institutions, according a report issued Tuesday. In its report, the […]

Bureau issues 2018 list of consumer reporting agencies; includes 11 categories

January 30, 2018 0

The 2018 roster of consumer reporting agencies, broken down into 11 categories, was published by the Consumer Financial Protection Bureau (CFPB) Tuesday in the agency’s annual listing. The CFPB said the list (current as of […]

Prepaid rule delayed by one year; bureau adjusts error resolution, digital wallet provisions

January 25, 2018 0

A rule affecting prepaid cards and accounts has been extended by one year (to April 2019), reflecting comments that those affected “need more time” to put the rule to work – especially card issuers who […]

Bureau issues first request for ‘evidence’ about performing its ‘proper, appropriate functions’

January 24, 2018 0

Civil investigative demands (CIDs) issued by the federal consumer protection bureau are the subject of the first “request for information” released by the consumer agency as part of the agency’s “call for evidence” about its […]

Mulvaney seeks public input on how/if consumer bureau is fulfilling ‘proper, appropriate functions’

January 17, 2018 0

A series of “requests for information” to determine if the Consumer Financial Protection Bureau (CFPB) is fulfilling its “proper and appropriate functions to best protect consumers” will be published in coming days, the acting director […]

Report breaks down bureau’s FTEs at year-end ’17; emphasis on legal positions at HQ

January 17, 2018 0

Nearly 1,660 “full-time equivalent” (FTE) positions were on its employment rolls at the end of 2017, with about 85% of those positions performing “activities that can only be performed by a Federal employee,” the Consumer […]

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Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]
Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]