CFPB – Page 29 – Regulatory Report

What's up

[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech CFPB
[ December 23, 2024 ] Scheme to illegally steer business to Rocket Mortgage draws CFPB suit CFPB
[ December 23, 2024 ] Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA OCC
[ December 23, 2024 ] OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks OCC
[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB

With proposal, bureau opens investigation into credit card fees focusing on ‘reasonable and proportional’

June 22, 2022 0

Excessive credit card late fees – particularly data about the fees and late payments and whether the fees are “reasonable and proportional” – are the topic of an advance notice of proposed rulemaking issued Wednesday […]

CFPB director, in blog post, discusses reg simplification and current priorities

June 17, 2022 0

The consumer financial protection agency’s desire to transition away from highly complicated rules and toward simpler, clearer rules – plus a look at its current regulatory priorities – was detailed in a blog post Friday by the […]

Public input on employer-driven debt due to CFPB Sept. 7

June 17, 2022 0

Input from the public on the practices and financial products that may leave workers indebted to their employers is due to the federal consumer financial protection agency Sept. 7, according to a Federal Register notice […]

Request for Information Regarding Employer-Driven Debt

June 17, 2022 0

Title: Request for Information Regarding Employer-Driven Debt Subject: Employer-driven debt Agency: CFPB Status: Request for information Summary: The Consumer Financial Protection Bureau (CFPB or Bureau) is charged with monitoring markets for consumer financial products and […]

CFPB

CFPB circulars on deceptive use of FDIC name/logo, adverse credit action notice rules published

June 14, 2022 0

Two new circulars providing other agencies guidance on the consumer financial protection agency’s policy on matters related to misuse of elements denoting the presence of federal bank deposit insurance and on adverse action notification requirements […]

Big banks, credit unions, to be under microscope for how they provide access to customer service

June 14, 2022 0

How customers and members of big banks and credit unions may assert their rights to better customer service is the stated aim of an initiative announced Tuesday by the federal consumer financial protection agency, the […]

Credit report bullying, phony medical bill collectors continue to plague military, veterans, families, report asserts

June 13, 2022 0

Problems with coercive credit reporting and false medical bill collections – including billing inaccuracies and aggressive debt collector tactics to recover allegedly unpaid medical bills – are cited by military service members, their families, and […]

Consumer bureau sets sights on employer-driven debt products, practices

June 9, 2022 0

Practices and financial products that may leave workers indebted to their employers is the focus of an inquiry launched Thursday by the Consumer Financial Protection Bureau (CFPB). In a request for information (RFI), the bureau […]

Student loan debt relief operator would be banned, fined, for allegedly absconding with $240,000 from borrower accounts

June 9, 2022 0

An operator of a California-based student loan debt relief firm would be banned from the industry after allegedly withdrawing more than $240,000 from student loan borrowers’ accounts without their authorization, the federal consumer financial protection […]

Bureau terminates lending firm’s ‘no action letter’ over fair lending laws at company’s request

June 8, 2022 0

A “no action letter” (NAL) has been terminated at the request of the company that initially received it so the firm could change its underwriting and pricing models but not be subject to additional review, […]

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Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

December 23, 2024 0

One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” the federal consumer financial protection [...]
Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

December 23, 2024 0

Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, [...]
Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

December 23, 2024 0

Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made public Monday. The Office of [...]
OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks

December 23, 2024 0

Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, starting Jan. 1, a bank [...]