CFPB – Page 122 – Regulatory Report

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

In report, bureau says data ‘insufficient’ to measure credit scoring model changes

February 22, 2018 0

Data are “insufficient” to evaluate the extent to which the removal of civil public records from consumer credit reports affected the predictiveness of commercial credit scoring models, the federal consumer protection bureau said in a […]

Comments due May 21 for CFPB’s 4th request, ‘supervision’

February 21, 2018 0

Comments are due May 21, after a 90-day period, for the Consumer Financial Protection Bureau (CFPB) “request for information” about its Supervision Program. The comments-due date was set in a request for information (RFI) published Tuesday […]

‘External engagements’ – including bureau advisory groups, town halls – latest call for ‘evidence’

February 21, 2018 0

“External engagements” is the topic for the fifth of an expected 12 “requests for information” issued Wednesday by the Consumer Financial Protection Bureau (CFPB), focusing on ways the bureau engages and receives feedback from the […]

‘Supervisory processes’ issued for 90-day RFI, as bureau signals eight more info requests in pipeline

February 14, 2018 0

Issuing its fourth “request for information” in as many weeks for “evidence” of how it is doing its job, the federal consumer protection bureau signaled that up to eight more RFIs will be issued in […]

Bureau pledges to hew to statute in plan, following proposed funding change in Trump budget

February 13, 2018 0

A pledge to commit to fulfill its statutory responsibilities, but to “go no further,” was made by the Consumer Financial Protection Bureau (CFPB) Monday in its five-year strategic plan, released after the White House proposed […]

Agency to publish final rule on pre-paids (with effective date pushed by one year)

February 12, 2018 0

Five revisions to its rule on pre-paid accounts — including extending the overall effective date to April 1, 2019, and providing that financial institutions will not be required to resolve errors or limit consumers’ liability […]

RFI No. 3, ‘enforcement processes,’ issued by consumer bureau, right on schedule

February 7, 2018 0

Right on schedule, for the third straight week the federal consumer protection agency Wednesday issued another “request for information” (RFIs) in its drive to expose “evidence” about whether the agency is doing its job – […]

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 […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]