CFPB – Page 3 – Regulatory Report

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[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other
[ November 18, 2024 ] More days allowed for commenting on deposit insurance recordkeeping for custodial accounts FDIC

60-day comment period set for proposed data collection standards rule

August 22, 2024 0

Comments are due Oct. 21 on a proposal to establish data standards for the collection of information reported to federal financial institution regulators by financial entities under their jurisdiction, the federal financial institution and other […]

Bureau charges firm $5 million in redress, penalties for failing to meet requirements of 2017 order

August 22, 2024 0

Taking prohibited foreclosure actions against borrowers requesting mortgage assistance, and other deficiencies, have resulted in $5 million in redress and penalties ordered by the federal consumer financial protection bureau against a Tampa-based mortgage servicer, the […]

‘Contracts for deed’ – often used where interest on loans banned – subject to protections, agency rules

August 21, 2024 0

So-called “contracts for deed” must comply with longstanding federal mortgage protections, such as the Truth in Lending Act (TILA), the federal consumer financial protection agency said Aug. 13 in an advisory opinion. The Consumer Financial […]

Small business lending filing instruction guide updated by agency

August 21, 2024 0

Compliance dates used in the filing instructions to correspond with new deadlines for the small business lending rule are published in the instructions guide issued Aug. 16 by the federal consumer financial protection agency. The […]

Agencies issue joint proposal for data standards rules for information they collect

August 9, 2024 0

Establishing data standards for the collection of information reported to federal financial institution regulators by financial entities under their jurisdiction is the aim of a joint notice of proposed rulemaking (NPR) issued by the agencies […]

CFPB, Fed join rulemaking on interoperability of data collected by financial regulators

August 2, 2024 0

Two federal financial regulators on Friday added their names to a joint proposed rule that would set data standards for certain information collections submitted to financial regulatory agencies. The proposal, issued just one day prior […]

CFPB: Financial firms whose nondisclosure agreements intimidate potential whistleblower activity risk violating CFPA

July 24, 2024 0

The risk that financial firms’ nondisclosure agreements with employees might scare employees away from reporting violations of federal consumer financial protection law – with such intimidation being a violation itself – is discussed in a […]

UPDATED: Proposal would subject many ‘paycheck advance’ programs to TILA, mandate disclosures

July 18, 2024 0

This article has been updated to include a link to the Federal Register notice and comment deadline. Ensuring workers know the cost and fees of “paycheck advance” products is the aim of an interpretive rule […]

Agencies finalize guidance on reconsiderations of value (ROVs) for real estate sales

July 18, 2024 0

Final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions were issued by all five federal financial institution regulators Thursday, the agencies announced in a joint release. According to the release, the guidance […]

UPDATED: Agencies jointly issue final automated valuation rule setting quality control standards for mortgage lenders

July 17, 2024 0

A final rule designed to ensure credibility and integrity of automated valuation models (AVMs) in mortgages secured by a consumer’s principal dwelling through quality control standards was issued Wednesday by the federal financial regulators and […]

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CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]