CFPB – Page 133 – Regulatory Report

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[ 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
[ April 1, 2025 ] March disclosure shows 8 banks rated ‘outstanding’ for CRA OCC
[ March 31, 2025 ] OCC reverses course on climate-related principles; large banks no longer must follow OCC

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 […]

Bureau issues warning about ‘pay-by-phone’ fees

July 31, 2017 0

Concerned about financial services and other companies that are “tricking consumers” into paying expensive fees for remitting by phone, the CFPB issued a warning today about charging the fees. The bureau also issued guidance that […]

Proposal would clarify HMDA data collection, report

April 13, 2017 0

A proposal clarifying the information financial institutions are required to collect and report about their mortgage lending – helping them, in turn, comply with Home Mortgage Disclosure Act (HMDA) rules – was issued today by […]

Proposal seeks more flexibility in collecting mortgage lending info

March 28, 2017 0

Providing additional flexibility to some mortgage lenders concerning the collection of consumer demographic information is the aim of a proposed amendment to Regulation B (Equal Credit Opportunity Act/ECOA) issued by the CFPB last week. According […]

Comments will be due April 5 on extended prepaid rule effective date

March 14, 2017 0

Comments on a delayed effective date (to April 1, 2018) for a CFPB rule on prepaid accounts will be due April 5, as a result of a notice to be filed tomorrow in the Federal […]

Bureau seeks continuation of councils/board, as action in Congress looms

February 22, 2017 0

Advisory boards and councils for the CFPB – representing community banks, credit unions, consumers and researchers – would be continued under notices to be published Thursday by the agency, despite proposed legislation likely to emerge […]

Inquiry opened into ‘alternative data’ use for credit worthiness

February 17, 2017 0

“Alternative data” to determine credit-worthiness of consumers who lack enough credit history to obtain a credit score is the subject of an exploration opened Friday by the CFPB. The inquiry into “alternative data” focuses on “credit […]

Cordray wins reprieve (for now) as court will review ruling

February 16, 2017 0

The CFPB has been granted a review by a federal appeals court of a ruling from last fall that effectively found the structure of the agency unconstitutional. In a decision released Thursday, the U.S. Appeals […]

Suit alleges illegal fees sought from debt relief law firms, attorneys

January 30, 2017 0

Law firms and individual attorneys offering debt relief services were sued today by the CFPB for collaborating to allegedly charge “illegal fees” to consumers seeking debt relief, the consumer agency announced today. The suit filed […]

Bureau fines mortgage servicers for ‘giving runaround’ to consumers

January 23, 2017 0

“Giving the runaround” to homeowners seeking options to save their homes is cited as the impetus behind a $28.8 million order by the CFPB to two mortgage servicing subsidiaries of one of the nation’s largest […]

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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 [...]