CFPB – Page 15 – 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

Auto lenders singled out for abusive actions in bureau report; misleading marketing, inflated loan balances alleged

July 26, 2023 0

Auto lenders are singled out for unfair, deceptive, and abusive acts or practices (UDAAP) by the federal consumer financial protection agency in a report issued Wednesday. In releasing the latest version of its Supervisory Highlights, […]

CFPB’s Chopra signals agencies on lookout for AI use by corporate landlords to deny, gouge renters

July 25, 2023 0

Regulators cannot tolerate corporate actors using opaque artificial intelligence (AI) fed by inaccurate information to deny or gouge tenants on rental housing, the director of the federal consumer financial protection agency said Tuesday. In remarks […]

Report outlines alleged risks of ‘employer-driven debt’ for workers

July 20, 2023 0

Risks that “employer-driven debt” poses to workers – by allegedly tying workers to their employers that pay for retraining or other education as a condition of employment – is outlined in a report issued Thursday […]

Utah firm faces lawsuit for ‘bullying, luring,’ threatening consumers in lease to own deals

July 19, 2023 0

Utah firm faces lawsuit for ‘bullying, luring,’ threatening consumers in lease to own deals Using words such as “bullying,” “luring” and “threats” to describe actions taken against consumers, the federal consumer financial protection agency Wednesday […]

Bureau, European Commission open dialog on ‘critical consumer issues,’ including AI, BNPL

July 17, 2023 0

“Critical financial consumer protection issues” will be the focus of joint talks between the federal consumer financial protection agency and its European counterpart, the agencies said Monday. In their joint statement, the Consumer Financial Protection […]

Bureau plans another ‘regcast’ about much-maligned small business lending rule

July 17, 2023 0

The “small business lending rule” issued by the federal consumer financial protection agency will be the subject of a webcast by the agency set for July 25, the agency announced Monday. The Consumer Financial Protection […]

Vocational training outfit sued over deceptive practices by CFPB, state entities

July 13, 2023 0

A company called Prehired that operated a vocational training program was sued Thursday by the Consumer Financial Protection Bureau (CFPB), several state attorneys general and California’s financial protection agency over deceptive marketing and debt collection […]

Medical payment products RFI out for comment until Sept. 11

July 12, 2023 0

Input is due Sept. 11 on a request for information about medical payment products, patients’ experiences with them, and health care providers’ incentives to offer the high-cost products to patients, according to a notice in […]

Request for Information Regarding Medical Payment Products

July 12, 2023 0

Title: Request for Information Regarding Medical Payment Products Subject: Medical payment products Agency: CFPB, Treasury, Centers for Medicare & Medicaid Services Status: Request for information Summary: The CFPB, an independent agency, HHS, and the […]

Overdraft, insufficient funds fees lead to penalties, restitution of more than $160 million for BofA

July 11, 2023 0

Penalties and restitution totaling more than $160 million against Bank of America for assessments of allegedly illegal overdraft and insufficient funds fees were announced Tuesday by the regulator of national banks and the federal consumer […]

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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 [...]