CFPB – Page 16 – Regulatory Report

What's up

[ 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

High-cost medical financial products for consumers under microscope by three agencies

July 7, 2023 0

Credit cards and loans, often with high interest rates, allegedly pushed onto patients to pay for their health care costs are under scrutiny by three federal agencies, including the consumer financial protection group. The three […]

Three years after settlement reached, bureau to distribute $3.5 million over fees tied to student loan debt relief

July 6, 2023 0

Payments to consumers from a $3.5 million settlement reached three years ago over the charging of illegal fees charged to ostensibly reduce or eliminate federal student loans are being sent as of Thursday, the federal […]

Rural south faces “distinct challenges” in offering fair access to banking, reports assert

June 21, 2023 0

The rural southern U.S. “faces distinct challenges when it comes to fair access to banking,” the director of the federal consumer financial protection agency said Wednesday, especially as the region includes many areas of “banking […]

Comments due Aug. 21 on agencies’ automated valuation models proposal

June 21, 2023 0

A rule proposed in early June that recognizes the increasing frequency of use of automated valuation models (AVMs) by mortgage lenders in determining the value of property is out for comment until Aug. 21, according […]

Quality Control Standards for Automated Valuation Models

June 21, 2023 0

Title: Quality Control Standards for Automated Valuation Models Subject: Residential mortgage valuation Agency: CFPB, Federal Reserve, FDIC, FHFA, NCUA, OCC Status: Proposed rule Summary: The Office of the Comptroller of the Currency (OCC), Federal […]

Digital payment apps present ‘rapidly growing threat’ to military families, CFPB charges in report

June 20, 2023 0

“A rapidly growing financial threat to military families” is how digital payment apps are being characterized by the federal consumer financial protection agency in a report released Tuesday. However, the same report also offers recommendations […]

Bureau wants to offer another month for comments on ‘data brokers’ and their practices

June 12, 2023 0

You will have another month to submit comments about “data brokers” and their practices under an expected extension of a comment period that is currently set to expire June 13, according to a document filed […]

Joint proposal would offer guidance on reconsiderations of value (ROVs) in real estate appraisals

June 8, 2023 0

Reconsiderations of value (ROVs) for residential real estate valuations that allow consumers to provide financial institutions with information that may not have been considered during an appraisal, or if deficiencies are identified in the original […]

Bureau orders medical debt collector Phoenix to pay $1.675 million penalty plus consumer redress

June 8, 2023 0

A medical debt collector that in “at least thousands of times” continued efforts to collect on debt that was not substantiated after a consumer disputed the debt’s validity must pay redress plus a $1.675 million […]

Chatbots under scrutiny in resolving customer service issues as complaints rise

June 6, 2023 0

Chatbots –computer generated, online consumer help programs that simulate human-like responses – can impede customers from resolving problems, especially if the systems are poorly deployed, the federal consumer financial protection agency charged Tuesday. In a […]

« 1 … 14 15 16 17 18 … 132 »

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 [...]