CFPB – Page 34 – Regulatory Report

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[ 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

Consumer bureau’s advisory committees set to meet over 3 days in April

March 22, 2022 0

The four panels that advise the Consumer Financial Protection Bureau (CFPB) on its research activities, trends in consumer finance and how the bureau carries out its functions under federal statutes affecting banks and credit unions […]

‘Fake reviews,’ ‘gag’ clauses fraud targeted by bureau to bar illegal evaluation practices

March 22, 2022 0

“Fake reviews,” “gag” clauses and other allegedly illicit practices related to consumer online evaluations of financial products are the subject of guidance issued Tuesday by the federal consumer financial protection agency. The guidance, according to […]

Bureau raises stakes under ban on discriminatory practices, targeting actions in ads, pricing, more

March 16, 2022 0

Discriminatory conduct that violates the federal prohibition against unfair practices – as well as decision-making in advertising, pricing, and other areas to which federal consumer protection laws may not directly apply – will be closely […]

Bureau unveils initiative to address issues of rural America, with focus on banking deserts, discriminatory lending, manufactured housing

March 10, 2022 0

Issues facing rural America are the focus of an initiative launched Thursday by the federal consumer financial protection agency, with particular initial emphasis on rural banking deserts, discriminatory and predatory agricultural credit, and manufactured housing, […]

Regulators vow to reduce risks, promote ‘fair, efficient’ financial system in response to digital assets order

March 9, 2022 0

Reducing risks posed by digital assets while promoting “a fairer, more inclusive, and more efficient financial system” were vowed by leaders of two key financial regulatory agencies in response to the “digital assets” executive order […]

Bulletin 2022-04: Mitigating Harm From Repossession of Automobiles

March 4, 2022 0

Title: Bulletin 2022-04: Mitigating Harm From Repossession of Automobiles Subject: Auto repos Agency: CFPB Status: Compliance Bulletin 2022-04 Summary: The Consumer Financial Protection Bureau (Bureau or CFPB) is issuing this Compliance Bulletin regarding repossession of […]

CFPB’s Chopra outlines steps for combatting ‘coercive’ medical debt credit reporting

March 1, 2022 0

Three broad steps meant to combat “coercive” credit reporting to obtain payments on medical debt will be taken by the federal consumer financial protection agency, its director said Tuesday. Consumer Financial Protection Bureau (CFPB) Director […]

Bureau issues second warning in week that it is closely watching auto lending, repossessions

February 28, 2022 0

Improper, illicit auto repossessions are the target of a compliance bulletin issued Monday by the federal consumer financial protection agency, which outlines conduct the agency has observed in exams; the agency also said it is […]

In quest for ‘fair, transparent, competitive’ auto lending, bureau vows to monitor loans, collections, subprime competition

February 24, 2022 0

A fair, transparent, and competitive auto lending market – particularly as car prices, for especially used models, rise – will be a focus of the federal consumer financial protection agency, it said in a blog […]

Factsheet covers interest rate used for calculating prepaid interest under QM

February 23, 2022 0

A factsheet on the interest rate used for calculating prepaid interest under certain mortgage lending rules was issued Wednesday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the fact […]

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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 [...]