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

Charges allege big bank took actions with consumers’ accounts – but left them in the dark

March 9, 2020 0

Taking actions on accounts without consumers’ knowledge or consent – including opening deposit and credit-card accounts in their names, transferring funds from their existing accounts to improperly opened accounts, and enrolling them in unauthorized online-banking […]

THIS WEEK: Kraninger before Senate Banking; Wells Fargo testimony; CFPB council meetings; NCUA meeting agenda

March 9, 2020 0

This week “springs forward” on the financial regulatory front, with consumer bureau director Kathleen Kraninger testifying before the Senate Banking Committee, Wells Fargo officials getting grilled in the House Financial Services Committee, a webinar on […]

CFPB updates business conduct bulletin, plans advisory opinion program, seeks whistleblower program authority

March 6, 2020 0

The federal agency charged with financial consumer protection on Friday announced it is implementing an advisory opinion program, issuing a revised “responsible business conduct bulletin,” and proposing legislation authorizing the agency to award whistleblowers who […]

Report: New consumer bureau deputy director will split time with current job at FDIC

March 5, 2020 0

A new deputy director for the federal consumer financial protection agency will be splitting time between that organization and his current position at the federal insurer of bank deposits, according to news reports Wednesday. Leonard […]

Debt Collection Practices (Regulation F); disclosures

March 2, 2020 0

Title: Debt Collection Practices (Regulation F); delay of effective date Subject: Debt collection; disclosures Agency: CFPB Status: Proposed rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to revise Regulation […]

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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 [...]

Charges allege big bank took actions with consumers’ accounts – but left them in the dark

THIS WEEK: Kraninger before Senate Banking; Wells Fargo testimony; CFPB council meetings; NCUA meeting agenda

CFPB updates business conduct bulletin, plans advisory opinion program, seeks whistleblower program authority

Report: New consumer bureau deputy director will split time with current job at FDIC

Debt Collection Practices (Regulation F); disclosures

Report: 84% of 370 GAO, OIG recommendations to CFPB, dating back to 2010, have been closed

Kraninger gives semiannual report to Senate Banking March 10

2020 Your Money, Your Goals cohort draws 34 organizations, bureau reports

FAQs look at TRID rule, lender credits in five areas

Bureau Deputy Director Johnson leaving; to join law firm next month

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