CFPB – Page 128 – Regulatory Report

What's up

[ April 2, 2025 ] Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions FDIC
[ April 2, 2025 ] Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule Other
[ April 1, 2025 ] Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico The Fed
[ April 1, 2025 ] FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing Other
[ April 1, 2025 ] Three state financial institution regulators named to liaison group for Exam Council Other

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, […]

Consumers note benefits, drawbacks to overdraft programs in bureau report

November 22, 2017 0

Consumer understanding of overdraft programs — including their perceptions of experiences, beliefs about advantages, and drawbacks to alternatives – are explored through “qualitative interviews” about the product issued in a report by the Consumer Financial […]

$6.5 million in fines assessed to Citibank over student loan servicing

November 22, 2017 0

A dual fine totaling $6.5 million, and an order to “end these illegal servicing practices” was levied on Citybank, N.A. by the Consumer Financial Protection Bureau (CFPB) Tuesday over student loan servicing. According to the […]

Bureau formally closes the book on ‘arbitration rule’ by removing it from federal rule list

November 21, 2017 0

A formal removal of the “arbitration rule” from the list of federal rules and regulations has been filed by the Consumer Financial Protection Bureau (CFPB), closing the book on the regulation. “Under the Congressional Review […]

Outgoing consumer bureau director urges financial institutions to consider adopting new technology to protect customers, members

November 20, 2017 0

New technology making it feasible for financial institutions to enable consumers to exert “much greater control” over their credit cards, debit cards, and other payment methods should be considered for speedy adoption by financial institutions […]

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Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions

April 2, 2025 0

Call reports for the first quarter – which contain no new data items – are due from banks in most cases by April 30, the federal banking agencies said Wednesday. However, the agencies advised in a financial institution letter (FIL), [...]
Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule

April 2, 2025 0

Compliance deadlines for certain financial firms to report non-centrally cleared bilateral repurchase (NCCBR) agreement data to the Office of Federal Research (OFR) has been extended under a final rule published Wednesday in the Federal Register. Under the final rule, which [...]
Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico

April 1, 2025 0

An enforcement action that dated back to 2022 against three Irvine, Calif., financial institutions has been terminated by the Federal Reserve, the agency said Tuesday. The Fed said its cease-and-desist actions against Allegiant United Holdings, Nano Financial Holdings, Inc., and [...]
FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing

April 1, 2025 0

Notices providing “red flags” to help financial institutions identify and report potential bulk cash smuggling across the U.S.-Mexico border and financing of ISIS were issued this week by the Financial Crimes Enforcement Network (FinCEN), Treasury’s financial crimes enforcement arm. The [...]
Three state financial institution regulators named to liaison group for Exam Council

April 1, 2025 0

Three state regulators have been named to serve on the liaison council to the umbrella group for federal financial regulators, the group announced Tuesday. The three named to the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council [...]
March disclosure shows 8 banks rated ‘outstanding’ for CRA

April 1, 2025 0

Eighteen banks’ Community Reinvestment Act (CRA) ratings from the national bank regulator became public in March, and of those, eight were ratings of “outstanding” and 10 were “satisfactory,” the agency said. The banks’ CRA evaluation “public disclosure” reports, available on [...]
OCC reverses course on climate-related principles; large banks no longer must follow

March 31, 2025 0

Large financial institutions will no longer have to deal with principles for climate-related financial risk management under a decision issued Monday by the national bank regulator. The Office of the Comptroller of the Currency (OCC) said the principles (adopted in [...]
Bureau follows law, makes 2024 loan level data under HMDA available

March 31, 2025 0

Loan-level information for 2024 filed by banks but edited to protect consumer privacy was released Monday by the federal consumer financial protection agency, as required by law. The data, collected under the Home Mortgage Disclosure Act (HMDA) Modified Loan Application [...]
NCUA bars 6 from future work in federally insured financial institutions

March 31, 2025 0

Six former credit union employees, two of them former CEOs, were barred in March from any future involvement in the affairs of any federally insured financial institution, the National Credit Union Administration said Monday. In all, the agency said it [...]