CFPB – Page 2 – Regulatory Report

What's up

[ February 25, 2025 ] Banks bump up profitability in fourth quarter with net income of $66.8 billion; ROA also sees a jump FDIC
[ February 25, 2025 ] Report on credit unions’ federal share insurance fund slated Thursday NCUA
[ February 21, 2025 ] Report: NCUA management agrees to seek improved examiner-in-charge rotation policy compliance NCUA
[ February 21, 2025 ] FDIC updates list of entities seeking brokered deposits ‘primary purpose’ exception FDIC
[ February 20, 2025 ] GAO urges regulators to adopt rules on executive incentive compensation (after 14 years) FDIC

Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic

January 17, 2025 0

American Honda Finance Corporation was ordered Friday to pay $10.3 million in consumer redress plus a $2.5 million civil money penalty over findings of credit report furnishing inaccuracies and dispute investigation failures during the COVID-19 […]

Equifax hit with $15 million penalty over poor dispute handling

January 17, 2025 0

Equifax, one of three nationwide consumer reporting agencies, was ordered Friday to pay a $15 million civil money penalty for failing to conduct proper investigations of consumer disputes. The Consumer Financial Protection Bureau (CFPB) – […]

Cash App owner Block ordered to pay up to $175 million combined in redress, penalty

January 16, 2025 0

Up to $120 million in consumer redress plus a $55 million civil money penalty (CMP) must be paid by Block, the owner of peer-to-peer payments app Cash App, under a consent order announced Thursday by […]

Alleging that consumers were cheated out of $2 billion in interest, bureau files lawsuit against 11th largest bank

January 14, 2025 0

Millions of consumers were allegedly cheated out of more than $2 billion in interest by one of the largest banks in the nation, according to a lawsuit made public Tuesday by the federal consumer financial […]

Proposal would block firms from using contract clauses that impose on legal rights, free speech

January 13, 2025 0

Companies would be banned from using certain contract clauses that allegedly include waivers of substantial legal rights and fine print that suppresses speech under a proposed rule issued Monday by the federal consumer financial protection […]

Flood underinsurance for streamside dwellers in certain regions more likely, report asserts

January 13, 2025 0

Homeowners facing flooding from rivers and creeks – numbering in the hundreds of thousands in the Southeast and central Southwest of the country — are more likely to be underinsured than sea coastal residents, according […]

Bureau seeks public comment on emerging payment mechanisms; proposes rule for how EFTA would cover

January 10, 2025 0

Requirements that apply to emerging payment mechanisms – such as those used in video gaming platforms — are the subject of a proposed interpretive rule issued Friday by the federal consumer financial protection agency. The […]

Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval

January 9, 2025 0

A non-profit organization operating in the United States and Canada is the first to be recognized as a standard-setting body for open banking, the federal consumer financial protection agency said late Wednesday. The application by […]

Final rule limiting use of medical information by creditors, including eligibility for credit, given green light

January 7, 2025 0

A regulatory exception that previously permitted a creditor to obtain or use medical information, including medical debt information, is removed under a new rule on medical debt collection issued Tuesday by the federal consumer financial […]

CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines

January 7, 2025 0

A lawsuit alleging that consumer reporting agency Experian unlawfully failed to properly investigate consumers’ disputes over information in their credit reports was filed Tuesday by the Consumer Financial Protection Bureau (CFPB). The CFPB said that […]

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Banks bump up profitability in fourth quarter with net income of $66.8 billion; ROA also sees a jump

February 25, 2025 0

Net income of $66.8 billion for the fourth quarter of last year was posted by the nation’s banks, the federal insurer of bank deposits said Tuesday, while also noting that return on assets (ROA) – the basic yardstick of profitability [...]
Report on credit unions’ federal share insurance fund slated Thursday

February 25, 2025 0

No regulatory action items are on the brief agenda for Thursday’s open meeting of the National Credit Union Administration (NCUA) Board, though the board is slated to receive a report on the federal share insurance fund and reveal who will [...]
Report: NCUA management agrees to seek improved examiner-in-charge rotation policy compliance

February 21, 2025 0

A self-initiated audit of the agency’s compliance with its examiner-in-charge rotation policy and procedures found rotation occurred but identified several instances where it did not comply, according to a report by the agency’s inspector general office. The report by the [...]
FDIC updates list of entities seeking brokered deposits ‘primary purpose’ exception

February 21, 2025 0

After a long pause, the federal bank deposit insurer has resumed updating its list of notices of entities seeking a “primary purpose” exception under the agency’s brokered deposits regulation. Specifically, the four firms listed are seeking a primary purpose exception [...]