CFPB – Page 53 – Regulatory Report

What's up

[ November 15, 2024 ] Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds The Fed
[ November 15, 2024 ] CLF’s 2025-26 budget, share insurance fund update slated next Thursday NCUA
[ November 15, 2024 ] Farmer Mac stock a permissible investment for some FCUs, agency opinion states NCUA
[ November 14, 2024 ] Fed’s Kugler becomes latest board member to advocate for continued agency independence The Fed
[ November 14, 2024 ] VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs CFPB

Debt collection firm hit with $204k money penalty over abusive, deceptive practices

December 9, 2020 0

A $204,000 civil money penalty was assessed Tuesday against RAB Performance Recoveries, LLC, in a consent order with the Consumer Financial Protection Bureau (CFPB), which said the firm threatened to sue and sued consumers for […]

CFPB seeks $74.5 million in combined redress, civil money penalty from Nationstar Mortgage

December 7, 2020 0

Nationstar Mortgage, LLC, would be required to pay about $73 million in redress and a civil money penalty of $1.5 million under a complaint and proposed stipulated order filed Monday by the Consumer Financial Protection […]

Bureau sues CA firm for violating Military Lending Act’s 36% rate cap, more

December 4, 2020 0

An injunction, damages, redress to consumers, disgorgement of ill-gotten gains, and the imposition of civil money penalties against LendUp Loans LLC are sought in a suit filed Friday by the Consumer Financial Protection Bureau (CFPB) […]

Advisory Opinions Policy

December 3, 2020 0

Title: Advisory Opinions Policy Subject: Advisory opinions Agency: CFPB Status: Procedural rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing its final Advisory Opinions Policy (Advisory Opinions Policy), which sets forth procedures to […]

Debt settlement, relief firm sued for abusive acts, practices

December 2, 2020 0

A Beverly, Mass., debt-settlement and relief firm has violated telemarketing regulations by engaging in abusive and deceptive acts, the federal consumer financial protection agency charged in a lawsuit filed Monday. According to the Consumer Financial […]

Bureau issues new ‘no-action letter’ for online lending platform

December 2, 2020 0

An automated model for underwriting and pricing applicants for unsecured, closed-end loans has earned a “no-action letter” (NAL) for a California-based firm that provides an online lending platform, the Consumer Financial Protection Bureau (CFPB) said […]

Bureau names five – including new COO – to key management positions

December 2, 2020 0

Five new members were added to the federal consumer financial protection agency’s management team Monday, including a new chief operating officer, the agency announced. In a release, the Consumer Financial Protection Bureau (CFPB) said it […]

Bureau finalizes advisory opinions policy, allowing entities to seek clarity on regs

November 30, 2020 0

Credit unions, banks, and other entities questioning whether to comply with regulatory requirements can submit a request to the federal consumer financial protection agency to clear up any uncertainty, the agency said under a new […]

Amendments Relating to Disclosure of Records and Information

November 24, 2020 0

Title: Amendments Relating to Disclosure of Records and Information Subject: Information disclosure Agency: CFPB Status: Final rule Summary: This final rule amends the Bureau’s rule regarding the confidential treatment of information obtained from persons in […]

GAO: Model privacy form should disclose more about third-party info sharing by banks, credit unions

November 23, 2020 0

The consumer financial protection agency should update the model privacy form that many banks and credit unions use to disclose their information-sharing practices to their customers and members, according to a report Monday by the […]

« 1 … 51 52 53 54 55 … 130 »

Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

November 15, 2024 0

Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset quality, according to a supervision [...]
CLF’s 2025-26 budget, share insurance fund update slated next Thursday

November 15, 2024 0

The budget for the agency’s liquidity facility for credit unions is slated for action during the Nov. 21 open meeting of the National Credit Union Administration (NCUA) Board, which will also receive a credit union share (deposit) insurance fund briefing. [...]
Farmer Mac stock a permissible investment for some FCUs, agency opinion states

November 15, 2024 0

Federal credit unions (FCUs) may invest in common stock of the Federal Agricultural Mortgage Corporation, or Farmer Mac, to the extent they must in order to serve as loan originators or sellers in the program, the federal credit union regulator [...]
Fed’s Kugler becomes latest board member to advocate for continued agency independence

November 14, 2024 0

Count Federal Reserve Board Gov. Adriana Kugler as an advocate of continued agency independence, who Thursday said that condition is “fundamental” to the Fed achieving good policy. In remarks to a meeting of the Latin American and Caribbean Economic Association [...]
VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

November 14, 2024 0

A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday by the federal consumer financial [...]
OIG sets 4 recommendations for NCUA’s federal chartering process

November 14, 2024 0

Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National Credit Union Administration (NCUA) Office [...]
Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was provided in the NCUA’s evening [...]
PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

November 13, 2024 0

Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer of bank deposits. The report, [...]
Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

November 13, 2024 0

An alert to help financial institutions identify fraud schemes targeting them and that are associated with the use of deepfake media created with generative artificial intelligence (GenAI) tools was issued Wednesday by Treasury’s financial crimes enforcement arm. The Financial Crimes [...]