CFPB – Page 131 – Regulatory Report

What's up

[ January 23, 2025 ] New credit union regulator’s board chairman outlines priorities, with budgeting at top of list NCUA
[ January 21, 2025 ] Change comes from new administration with new leadership for FDIC, NCUA Boards FDIC
[ January 21, 2025 ] Another freeze on regulations ordered by Trump, pending rule review by his appointees CFPB
[ January 21, 2025 ] FDIC: Fraud suspected in connection with failed Pulaski Savings Bank, closed Friday FDIC
[ January 21, 2025 ] CFPB: TransUnion subsidiary agrees to not seek any bureau contracts for 3 years CFPB

High-profile settlement winners lied to by loan-marketing firm, CFPB alleges

September 19, 2017 0

Former professional football players suffering from neurological disorders, victims of the Deepwater Horizon oil-rig disaster, 9/11 first responders and others awaiting payment from legal settlements were lied to by a New Jersey company in loan […]

Guide offers summary for compliance with ‘Arbitration Rule’

September 19, 2017 0

A guide intended to be an easy-to-use summary of the Consumer Financial Protection Bureau’s (CFPB) Arbitration Agreements rule — and to highlight information that may be helpful when implementing the rule — has been published […]

Student loan trust faces fines, audits for illegal court action

September 18, 2017 0

Alleging that student loan borrowers were illegally sued for private student loan debt that the companies which made the loans couldn’t prove was owed or was too old to sue over, the Consumer Financial Protection […]

‘No action’ letter seeks info about ‘alternative data’ in lending applications

September 14, 2017 0

Calling it a “first,” the CFPB has issued a “no-action” letter to a California company that evaluates loan applications using “alternative data” rather than traditional methods in the agency’s efforts to learn more about how […]

Cordray: housing crisis recovery ‘uneven, painful’ for communities of color

September 13, 2017 0

The recovery from the housing meltdown of 2007-10 has been “uneven and painful” for communities of color, and it may take generations to restore what was lost, the director of the CFPB said Tuesday. In […]

Bureau singles out service providers for ‘illegal practices’ in mid-year 2017 report

September 13, 2017 0

Banks, auto lenders, credit card companies, debt collectors, mortgage lenders, and more are singled out for “illegal practices” against consumers in a CFPB report summarizing the bureau’s recoveries in the first half of the year. […]

Final rule raises threshold for Reg C open-end lines of credit

September 12, 2017 0

The threshold for collecting and reporting data about open-end lines of credit will increase for some financial institutions for a two-year period, beginning Jan. 1, according to a final rule scheduled to be published by […]

THIS WEEK (Sept. 11): CFPB comments due, hearing on Fed regulation/monetary policy roles

September 11, 2017 0

Comments about an extension of time to collect information about the small business lending market are due Thursday (Sept. 14) to the CFPB. In May, the bureau issued a request for information about small business […]

Bureau seeks comments again on student loan servicing metrics

September 6, 2017 0

Comments on CFPB quarterly data collection on aggregated student loan servicing metrics and borrower outcomes from student loan servicers are due Oct. 10, under a notice published Wednesday in the Federal Register. The bureau, in […]

Cordray notes focus remains on low-risk checking, alternative data

September 4, 2017 0

Establishment of low-risk checking or prepaid accounts at banks and credit unions, and use of “alternative data” in building credit records, continue to be goals of the Consumer Financial Protection Bureau (CFPB) in battling financial […]

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New credit union regulator’s board chairman outlines priorities, with budgeting at top of list

January 23, 2025 0

Re-examining the current budgeting process for the federal credit union regulator is the top priority of the agency’s new board chairman as outlined late Wednesday in a press release. Kyle S. Hauptman, a Republican appointee who was named chairman of [...]
Change comes from new administration with new leadership for FDIC, NCUA Boards

January 21, 2025 0

Change came rapidly Tuesday to federal financial institution regulatory agencies with the new Trump administration, as at least two new leaders were named at two agencies. More changes could be coming in the days ahead. At the Federal Deposit Insurance [...]
Another freeze on regulations ordered by Trump, pending rule review by his appointees

January 21, 2025 0

No new rules – “in any manner” – may be proposed or adopted by federal regulators, including those overseeing financial institutions until those rules are reviewed and approved by an agency head appointed or designated by the new president, the [...]
FDIC: Fraud suspected in connection with failed Pulaski Savings Bank, closed Friday

January 21, 2025 0

All deposits of Pulaski Savings Bank of Chicago, Ill., were assumed by Millennium Bank of Des Plaines, Ill., under a purchase-and-assumption agreement entered into Friday by the federal bank deposit insurer to protect depositors, the agency said. “The FDIC [Federal [...]
CFPB: TransUnion subsidiary agrees to not seek any bureau contracts for 3 years

January 21, 2025 0

Argus Information and Advisory Services, a subsidiary of the nationwide consumer reporting agency TransUnion, has agreed in writing to not seek any government contract with the Consumer Financial Protection Bureau (CFPB) for three years, the bureau said Tuesday. The bureau [...]
New FDIC leader issues extensive, 15-item list of ‘matters’ he expects for agency’s focus

January 21, 2025 0

A list of 15 “matters” focusing on a range of issues that the new chairman of the Federal Deposit Insurance Corp. (FDIC) Board expects “to focus on in the coming weeks and months” was issued Tuesday by the new leader. [...]
FDIC makes good on now-acting chairman promise to resign from international regulator group focusing on climate-change policy

January 21, 2025 0

True to the word of the now-acting board chairman, the federal bank deposit insurance agency Tuesday withdrew from an international regulators’ group promoting the “greening” of the financial system. In a brief (one paragraph, two-sentence) statement, the Federal Deposit Insurance [...]