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

‘Fair Lending’ report outlines nuanced approach to innovation, creating increased access to credit

July 1, 2019 0

Exploration of cutting-edge fair lending issues – including how consumer-friendly innovation can increase access to credit for all consumers and especially unbanked and underbanked consumers and their communities – will be a focal point for […]

Bureau updates payday ‘small entity compliance guide’; notes court’s stay on rule’s payment-related requirements remains in place

July 1, 2019 0

The delay in the compliance date of the mandatory underwriting provisions of payday lending rules is reflected in an updated “small entity compliance guide” published by the federal consumer financial protection agency, announced Monday. The […]

CFPB releases supplement on September 2018 report on its data program; plans to release texts of MOUs with other agencies, states in future

June 27, 2019 0

A supplement to a report issued last September on the various sources of data the Consumer Financial Protection Bureau (CFPB) uses in its work to ensure consumers access to products and services that are “fair, […]

Consumer bureau extends comment deadline for HMDA data points ANPR; comment period on coverage thresholds to be reopened

June 27, 2019 0

A three-month extension of the comment deadline on an advance notice of proposed rulemaking (ANPR) on Home Mortgage Disclosure Act (HMDA) data points and plans to reopen the comment period on HMDA coverage thresholds were […]

Prevention of financial elder abuse subject for joint agency July webinar

June 26, 2019 0

Strategies for addressing and preventing elder financial abuse – including a discussion of the benefits of “appropriate collaboration” between financial institutions and law enforcement – will be presented in a July 25 webinar jointly sponsored […]

UDAAP ‘Abusiveness’ uncertainty creates impediments to those that want to comply with law, consumer bureau leader asserts

June 25, 2019 0

Uncertainty over the parameters of “abusiveness” creates impediments to innovation and other helpful developments in the marketplace, according to the director of the federal consumer financial protection agency, a condition, she claimed, that makes it […]

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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 [...]

‘Fair Lending’ report outlines nuanced approach to innovation, creating increased access to credit

Bureau updates payday ‘small entity compliance guide’; notes court’s stay on rule’s payment-related requirements remains in place

CFPB releases supplement on September 2018 report on its data program; plans to release texts of MOUs with other agencies, states in future

Consumer bureau extends comment deadline for HMDA data points ANPR; comment period on coverage thresholds to be reopened

Prevention of financial elder abuse subject for joint agency July webinar

UDAAP ‘Abusiveness’ uncertainty creates impediments to those that want to comply with law, consumer bureau leader asserts

Agencies give final OK to check holds adjustments, but delay effective date to next year

Debt Collection Practices (Regulation F); communications

Credit union student loan subsidiary ordered to forgive loans worth $168 million in settlement

House Dems urge Kraninger to rescind HMDA proposals, call them a possible ‘trojan horse’ for future rollbacks

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