CFPB – Page 125 – 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

Board approves 2018 $2.1 billion budget (down 3% from previous year), with acting CFPB director’s participation

December 19, 2017 0

A nearly $2.1 billion budget for 2018 was approved 3-0 Tuesday by the board overseeing the nation’s bank and savings institution insurance fund, a decrease of about 3% from the previous year. The voting included […]

Deposit insurer’s board meeting opens opportunity for two newest members to attend

December 15, 2017 0

The 2018 operating budget for the insurer of savings in the nation’s banks and savings associations will be under consideration when its board meets Tuesday – which may include a first appearance in that role […]

FSOC ’17 report pledges commitment to sufficient capital, liquidity for financial institutions

December 14, 2017 0

Financial regulators should continue to ensure that financial institutions have sufficient capital and liquidity to reduce threats to economic and financial shocks, the federal umbrella group for the regulators said in its annual report, released […]

Consumer complaint process spurs more inquiries in ’17 to ombudsman’s office

December 7, 2017 0

Inquiries about the consumer complaint process of the Consumer Financial Protection Bureau (CFPB) were up in nearly every category this year, the agency’s ombudsman’s office outlined in its annual report released Wednesday, following a trend […]

GAO finds bureau bulletin on indirect auto lending ‘guidance’ is subject to congressional review

December 5, 2017 0

A 2013 bulletin about auto lending and compliance with federal credit reporting laws issued by the Consumer Financial Protection Bureau (CFPB) is a general statement of policy and a rule subject the Congressional Review Act (CRA), […]

Firm reports consumer bureau suspends investigation in court hearing

December 5, 2017 0

An investigation by the Consumer Financial Protection Bureau (CFPB) into the practices of a Virginia-based bail-bonds firm has been suspended, according to a release by the company issued Monday. Nexus Services Inc., of Verona, Va., […]

Mulvaney will remain as acting CFPB director, judge rules

November 28, 2017 0

Mick Mulvaney will remain as interim Director of the Consumer Financial Protection Bureau (CFPB), and Leandra English will continue as deputy director of the agency – for now – following a ruling Tuesday by a […]

Hearing Tuesday afternoon considers arguments in dual Bureau directors’ case

November 28, 2017 0

(Note: updated Nov. 28) A judge’s decision is expected as soon as Tuesday on a request to declare the deputy director of the Consumer Financial Protection Bureau (CFPB) the acting director — and block President […]

Mulvaney takes seat as acting director; English files suit, legal memos swirl

November 27, 2017 0

Mick Mulvaney, designated Friday as acting director of the Consumer Financial Protection Bureau (CFPB) while simultaneously continuing to serve as director of the Office of Management and Budget (OMB), took a seat at the bureau’s […]

Cordray taps chief of staff as deputy director; Trump ups ante with own appointment

November 24, 2017 0

Leandra English was tapped deputy director of the Consumer Financial Protection Bureau (CFPB) by outgoing Director Richard Cordray, the agency announced in a release Friday; English is now the agency’s chief of staff. As deputy director, […]

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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 [...]