CFPB – Page 122 – 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

(Updated) This week: Anti-money laundering hearings continue; nominations considered (again)

January 15, 2018 0

An examination of federal efforts to combat money laundering will continue this week as senators hold their second hearing on the subject in the past week, while House members mark up more “regulatory relief” legislation. […]

Mulvaney remains on the job after court rejects latest challenge

January 11, 2018 0

Acting Director Mick Mulvaney will remain on post at the Consumer Financial Protection Bureau (CFPB), at least for the near future, following a court’s rejection Wednesday of a request to remove him. The White House […]

Pre-Mulvaney bureau agenda cites proposed rules ahead on overdraft protection, debt collections

January 11, 2018 0

Rules on overdraft protection and communications in debt collections, as well as efforts to identify and relieve regulatory burden for financial services providers and small businesses, are all on the agenda prepared for the remainder […]

Credit card pacts with colleges decline, concentrate among issuers, report finds

January 4, 2018 0

The 10 largest credit card agreements between credit card issuers and universities reached an “unprecedented” 43% of all payments by issuers in 2016, according to a report issued Wednesday – although the number of agreements […]

Survey shows CFPB employees like their work, feel it’s important; some grumble about pay, recognition

January 3, 2018 0

Employees of the federal consumer watchdog agency overwhelmingly like the work that they do, have the information they need to do the job, are encouraged to come up with new and better ways to do […]

Consumer use of credit cards ramps up, report finds – and banks are making the most of it

December 28, 2017 0

Credit cards are making a comeback as consumer use is ramping up – and banks focusing on credit cards are taking advantage, seeing a triple return on their investments, according to the 2017 credit card […]

Changes ahead for prepaid rule, bureau declares; effective date to be extended again

December 22, 2017 0

Changes are coming next month to the final rule on prepaid accounts – in the meantime, the effective date of the rule will be extended, the Consumer Financial Protection Bureau (CFPB) said Thursday. In a short […]

Thresholds for mortgage disclosures data collection, TILA escrow requirements raised

December 21, 2017 0

Asset-size thresholds will be raised for exemptions from home mortgage disclosure data collection and requirements to establish escrow accounts for higher-priced mortgage loans under two final rules issued by the Consumer Financial Protection Bureau (CFPB) […]

Hearing set on CFPB leadership dispute, as acting/deputy directors face off

December 21, 2017 0

A federal court is scheduled to hear arguments Friday over why it should (or should not) issue a preliminary injunction declaring the deputy director of the Consumer Financial Protection Bureau (CFPB) the true director of […]

Agency dials back on HMDA data error penalties, signals reconsideration of reporting requirements ahead

December 21, 2017 0

Penalties for errors won’t be assessed for Home Mortgage Disclosure Act (HMDA) data collected in 2018 – and new rulemaking reconsidering aspects of 2015 HMDA reporting rules is coming, the federal consumer protection bureau said […]

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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 [...]