CFPB

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[ 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

Consumer financial law taskforce plans two-volume report to Kraninger; public hearing, ‘listening session’ to come (dates TBA)

June 9, 2020 0

A panel formed by the Consumer Financial Protection Bureau (CFPB) in January to review and recommend updates to consumer financial laws and rules will produce a two-volume report that will include historical information, analysis of […]

Bureau publishes fact sheet on title insurance, updated FAQs for TRID compliance

June 9, 2020 0

A fact sheet on title insurance disclosures and updated frequently asked questions (FAQs) – such as the requirement to include seller information in some instances – for required disclosures about home mortgages were issued Tuesday […]

CFPB’s consumer handbook on ARMs revised; eliminates references to LIBOR

June 8, 2020 0

A handbook that lenders must provide to adjustable rate mortgage (ARM) borrowers at application or before the consumer pays a non-refundable fee (whichever is earlier) has been updated by the Consumer Financial Protection Bureau (CFPB), […]

CFPB slates ‘convening’ Monday on youth financial education research

June 5, 2020 0

A virtual Youth Financial Education Research Convening is slated for Monday, hosted by the Consumer Financial Protection Bureau (CFPB) in conjunction with the Interagency Working Group on Youth Programs (IWGYP), according to a CFPB notice. […]

Guidance on CARES Act mortgage forbearance measures issued jointly by CFPB, state regulators

June 4, 2020 0

Guidance to help mortgage servicers comply with forbearance requirements in dealing with consumers affected by the coronavirus (COVID-19) pandemic was issued jointly Thursday by the federal consumer bureau and state financial institution regulators. The guidance, […]

Bureau proposes changes in disclosure provisions for open-, closed-end products after LIBOR runs out

June 4, 2020 0

Changes in disclosure provisions for open-end and closed-end loan products to provide examples of replacement indices for a widely used reference rate whose use is expected to be discontinued after 2021 was proposed by the […]

CFPB adopts flexible stance regarding certain credit card disclosures during pandemic

June 3, 2020 0

The Consumer Financial Protection Bureau (CFPB) is providing temporary, targeted flexibility during the coronavirus (COVID-19) pandemic for credit card issuers regarding the electronic provision of certain disclosures under truth-in-lending laws that are required to be […]

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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 [...]

Consumer financial law taskforce plans two-volume report to Kraninger; public hearing, ‘listening session’ to come (dates TBA)

Bureau publishes fact sheet on title insurance, updated FAQs for TRID compliance

CFPB’s consumer handbook on ARMs revised; eliminates references to LIBOR

CFPB slates ‘convening’ Monday on youth financial education research

Guidance on CARES Act mortgage forbearance measures issued jointly by CFPB, state regulators

Bureau proposes changes in disclosure provisions for open-, closed-end products after LIBOR runs out

CFPB adopts flexible stance regarding certain credit card disclosures during pandemic

COVID-19’s potential impact on remittances addressed in consumer bureau FAQs

CFPB orders short-term lenders to pay $3.5 million in redress but allows reduction; cites deceptive, unfair acts

Study highlights challenges for retirees to maintain spending levels, not face big spending cuts later

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

Farmer Mac stock a permissible investment for some FCUs, agency opinion states

Fed’s Kugler becomes latest board member to advocate for continued agency independence

VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

OIG sets 4 recommendations for NCUA’s federal chartering process

Small FL credit union conserved

PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs