CFPB – Page 4 – Regulatory Report

What's up

[ March 11, 2025 ] FinCEN order ramps up CTR filing by money services businesses in certain CA, TX border areas Other
[ March 11, 2025 ] Credit unions see sharp jump in delinquencies, ROAA decay for 2024 NCUA
[ March 11, 2025 ] First new federal credit union of 2025 will serve portion of Harris County, TX NCUA
[ March 10, 2025 ] OCC reverses recent course on crypto activities making range of activities permissible OCC
[ March 10, 2025 ] Banking agencies note rising risks for leveraged loans, stressed borrowers FDIC

CFPB order places Google’s online payments arm under direct agency supervision

December 9, 2024 0

Consumer complaints about error resolution at Google Payment Corp., Google’s online payments arm, have led to the federal consumer financial protection agency establishing direct supervisory authority over the nonbank firm, which reportedly is suing over […]

Bureau looks at effects of inaccurate credit reports on survivors of domestic violence, elder abuse; intends to issue proposed rule

December 9, 2024 0

The harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse would be considered under a rule being contemplated by the federal consumer financial protection agency, […]

Firm banned, charged fine, for delaying student loan borrowers loan rehabilitation process

December 9, 2024 0

Delaying borrowers’ loan rehabilitation processes, generating fees for itself and costing individual borrowers thousands of dollars has earned a Florida-based student loan debt collector an order to pay a $700,000 penalty and be banned from […]

Bank sued for ‘failing’ unbanked on receiving federal benefits, hanging up on calls seeking service

December 6, 2024 0

An $80 billion Texas bank has been sued for allegedly “systematically failing” 3.4 million primarily unbanked Americans receiving federal benefits, the federal consumer financial protection agency said Friday, which is seeking a stop to the […]

Bureau begins sending checks totaling $1.8 billion to victims of credit repair scheme

December 5, 2024 0

Return of $1.8 billion in illegal junk fees – allegedly charged in a credit repair scheme – from Salt Lake City firms to 4.3 million Americans was announced Thursday by the federal consumer financial protection […]

CFPB: Proposed order against firm marketing private student loans seeks $950k penalty, would suspend $6.6M in redress

December 5, 2024 0

The federal consumer financial protection agency filed a proposed, stipulated final judgment and order against a firm that markets private student loans, as well as its investers, over alleged violations of federal consumer financial protection […]

CFPB wants to ban student loan firm alleging unlawful upfront fees charged for ‘free’ services

December 4, 2024 0

A California firm and its owner would be banned from providing consumer financial products after allegedly charging unlawful upfront fees to borrowers for accessing otherwise “free” debt relief programs, the federal consumer financial protection agency […]

Agencies jointly issue examples of risk management practices effective in combatting elder financial abuse

December 4, 2024 0

Examples of risk management and other practices that may be effective in combatting elder financial exploitation were issued in a joint statement Wednesday by the five federal financial institution regulators, state regulators and the federal […]

Proposal would block data brokers from selling sensitive, personal data to scammers, stalkers

December 3, 2024 0

Data brokers would be blocked from selling sensitive personal data to potential scammers, stalkers and “spies” (those conducting espionage) under a proposal issued Tuesday by the federal consumer financial protection agency. The Consumer Financial Protection […]

Regcasts hope to explain how nonbanks may ‘register an order’ under new registration requirement

December 3, 2024 0

How nonbanks may register an order under a new rule that took effect in September will be the subject of two “regcasts” about the regulation set for Dec. 11 and 17, the federal consumer financial […]

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FinCEN order ramps up CTR filing by money services businesses in certain CA, TX border areas

March 11, 2025 0

Treasury’s financial crimes enforcement arm on Tuesday issued a geographic targeting order (GTO) that ramps up currency transaction report (CTR) filing requirements, setting a $200 threshold, for money services businesses (MSBs) along portions of the southwest border. The order applies [...]
Credit unions see sharp jump in delinquencies, ROAA decay for 2024

March 11, 2025 0

Delinquencies at credit unions in 2024 rose by 15 basis points (bp), to 0.98% of loans, compared to the previous year, their federal regulator said Tuesday in releasing year-end financial performance statistics. National Credit Union Administration (NCUA) Board Chairman Kyle [...]
First new federal credit union of 2025 will serve portion of Harris County, TX

March 11, 2025 0

Heritage Hub Federal Credit Union of Houston, Texas, will open its doors in mid-2025 to primarily serve people who live, work, worship, or attend school in an 84-census-tract community within Harris County, the federal agency that regulates credit unions said [...]
OCC reverses recent course on crypto activities making range of activities permissible

March 10, 2025 0

Banks may engage in “a range of cryptocurrency activities” now deemed permissible by the national bank regulator, the agency said late Friday. In a release (and interpretive letter 1183 to banks) the Office of the Comptroller of the Currency (OCC) [...]
Banking agencies note rising risks for leveraged loans, stressed borrowers

March 10, 2025 0

Credit risk associated with large, syndicated bank loans as of June 30, 2024, remained moderate, banking regulators said Monday in their assessment of risk in the largest and most complex credit facilities shared by regulated banks and nonbanks, but they [...]