CFPB – Page 28 – Regulatory Report

What's up

[ September 11, 2026 ] Proposed guidance focuses on risk management with third parties; statement on community banks ‘core service providers’ issued FDIC
[ September 11, 2026 ] Banks can start submitting CRA aggregate data via Fed portal in 2028 Other
[ September 11, 2026 ] Interim rule qualifies more banks for 18-month exam schedule FDIC
[ September 8, 2026 ] Cannabis businesses still having trouble obtaining banking services, report finds Other
[ September 4, 2026 ] Targeting order for currency transaction reporting by MSBs along Southwest Border renewed Other

Agencies announce lawsuit against auto lender for misrepresenting credit costs, ‘tricking customers’

January 4, 2023 0

Misrepresenting the cost of credit and tricking customers into high-cost loans on used cars are charges leveled against a Michigan auto lender by the New York Attorney General and the federal consumer financial protection agency […]

Annual report on consumer reporting firms finds improvements, but more actions suggested

January 3, 2023 0

Considerations for the nationwide consumer reporting companies to improve compliance with consumer financial protection laws and, ostensibly, to serve consumers better, is the asserted aim of annual report issued Tuesday by the federal consumer financial […]

HMDA, TILA asset-size exemption thresholds raised for 2023

December 28, 2022 0

Two final rules increasing the asset-size exemption thresholds for institutions required to report mortgage activity and to establish escrows for certain higher-priced mortgage loans (HPMLs) were published this week by the Consumer Financial Protection Bureau […]

Bureau raises 2023 TILA thresholds for higher-cost mortgages, QMs

December 23, 2022 0

There is no change in the $1 amount triggering minimium interest charge disclosures for open-end consumer credit plans for 2023, but the consumer financial protection agency is raising other amounts that will apply to certain […]

Remittance firm ordered to refund fees, pay penalty, after charges of failing to follow regulations

December 22, 2022 0

A remittance provider has been ordered to refund fees and pay a penalty after allegedly failing to provide refunds on thousands of transactions, the consumer financial protection agency said Thursday. The order against Servicio UniTeller, […]

Household financial health fell in 2021, report asserts, with some key groups falling further

December 21, 2022 0

Household financial health is in decline, with a “rapid deterioration” in financial health for some key groups, according to a new report issued Wednesday by the federal consumer financial protection agency. In its 2022 Making […]

Wells Fargo faces $3.7 billion in redress, fines for ‘widespread mismanagement’ of customer accounts

December 20, 2022 0

Citing “widespread mismanagement of auto loans, mortgages, and deposit accounts,” the federal consumer financial protection agency ordered $3.7 billion to be paid in fines and redress by one of the nation’s largest banks, the agency […]

Higher income borrowers took advantage of low rates, paperless process, during first year of pandemic, report finds

December 13, 2022 0

The first year of the coronavirus crisis led more higher-income borrowers to seek new mortgages or refinancings, and pushed more to consider “paperless” online mortgage borrowing, according to a report issued Tuesday by two federal […]

CFPB proposes public registry of nonbank offenders of consumer financial protections, one aim being to ID repeat offenders

December 12, 2022 0

Nonbank financial firms that become subject to local, state, or federal consumer financial protection agency or court orders under laws enforceable by the federal Consumer Financial Protection Bureau (CFPB) would be required to register with […]

Bureau finds TILA does not preempt NY commercial financing law; considers preemption rulings for three other states

December 7, 2022 0

Federal truth in lending statutes do not preempt certain provisions of a New York law governing commercial financing, according to a preliminary opinion issued Wednesday by the federal consumer financial protection agency. The Consumer Financial […]

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Proposed guidance focuses on risk management with third parties; statement on community banks ‘core service providers’ issued

September 11, 2026 0

Managing risks associated with third-party relationships is the subject of proposed guidance issued Friday by federal banking and credit union regulators. The banking agencies also issued a statement on community banks’ engagement with core service providers. According to the agencies [...]
Banks can start submitting CRA aggregate data via Fed portal in 2028

September 11, 2026 0

Banks required or choosing to report Community Reinvestment Act (CRA) aggregate data will be able to use a streamlined process beginning with the 2027 reporting year – meaning for submissions due by March 1, 2028, a regulators’ panel said Friday. [...]
Interim rule qualifies more banks for 18-month exam schedule

September 11, 2026 0

An extended, 18-month on-site exam cycle will apply to certain banks having assets of less than $6 billion under an interim final rule by the three federal prudential banking regulators. The Federal Reserve Board, Federal Deposit Insurance Corp. (FDIC), and [...]
New FAQs focus on permissible use of state-issued mobile drivers’ licenses for customer ID verification

September 8, 2026 0

Financial institutions may use state-issued mobile driver’s licenses (mDLs) and other government-issued digital credentials for ID verification under the Bank Secrecy Act (BSA)/anti-money laundering (AML) customer ID program (CIP) rule, federal regulators said Tuesday. Treasury’s Financial Crimes Enforcement Network (FinCEN) [...]
Cannabis businesses still having trouble obtaining banking services, report finds

September 8, 2026 0

Banks still hesitate to provide services to cannabis businesses due to legal issues and costs, according to a report issued Tuesday by the congressional watchdog. And, according to the Government Accountability Office (GAO), although more banks have started serving the [...]
Targeting order for currency transaction reporting by MSBs along Southwest Border renewed

September 4, 2026 0

A geographic targeting order (GTO) requiring money services businesses (MSBs) along the Southwest Border to file additional currency transaction reports (CTRs) was renewed and accompanied by updates to frequently asked questions. The order, issued by Treasury’s Financial Crimes Enforcement Network [...]
2 banks rated ‘needs to improve,’ 2 ‘outstanding’ in FDIC’s latest CRA ratings list

September 4, 2026 0

Of the 37 banks that received evaluation ratings under the anti-redlining Community Reinvestment Act (CRA) in June, two were rated “needs to improve” and two were deemed “outstanding,” their federal regulator said. The Federal Deposit Insurance Corp. (FDIC) list shows [...]
FinCEN issues alert, seeks FI vigilance against digital asset investment scams

September 4, 2026 0

Financial institutions are urged to be vigilant against digital asset investment scams perpetrated by overseas scam centers in a recent alert from Treasury’s financial crimes enforcement arm. The Financial Crimes Enforcement Network (FinCEN), in a release Thursday, pointed to a [...]
Economic activity rose in August, but ‘heightened uncertainty’ linked to energy prices, Iran war persists

September 4, 2026 0

Economic activity increased, slightly to moderately, in 10 to 12 Federal Reserve districts since early July through August, the agency said Wednesday in its latest semi-monthly report on economic conditions. However, the Beige Book also noted, although the general economic [...]