CFPB

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

‘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 […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]

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

Small business lending filing instruction guide updated by agency

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

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

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

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

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

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

Home loan applications dipped in ’23, but share of purchase loans to Blacks, Asians, rose slightly

Proposed rule would require mortgage servicers to focus on helping borrowers, not foreclosing

Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

OCC annual report notes sound banking system, but urges banks to guard against complacency