CFPB – Page 9 – Regulatory Report

What's up

[ 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

CFPB vows to begin monitoring video gaming marketplaces for financial, privacy risks

April 4, 2024 0

Financial and privacy risks are growing through video gaming marketplaces in banking options and payments, the federal consumer financial protection agency said Thursday, warning that it will now be monitoring those spheres. In a report […]

Sweeping rules for sales of data by brokers to comply with FCRA under consideration

April 3, 2024 0

Ensuring that data brokers comply with the Fair Credit Reporting Act (FCCA) through sweeping requirements affecting data sales the stated goal of new rules to be proposed by the federal consumer financial protection agency, its […]

Bureau circular reminds: remittances based on false advertising of “no fee,” “free” services violate federal law

March 27, 2024 0

Remittance transfer providers that issue false advertising about the cost or speed of sending a remittance transfer can violate federal law, the federal consumer financial protection agency reminded in a circular issued Wednesday. The Consumer […]

2023 HMDA mortgage loan-level data released for 5,089 lenders

March 26, 2024 0

Mortgage loan data that approximately 5,089 financial institutions collected last year on their modified loan application registers (LARs) as required under Home Mortgage Disclosure Act (HMDA) regulations was released Tuesday by the Consumer Financial Protection […]

Bureau joins regulators’ vow to hire more technologists to meet AI, data-intensive challenges

March 26, 2024 0

Increasing tech capacity – including by hiring more technologists – to help enforce laws and design remedies for consumers and others is the aim of a joint regulatory statement issued Tuesday. The Consumer Financial Protection […]

Bureau working on setting attributes of standard-setting groups under proposed ‘open banking’ rule, before final issued this fall

March 14, 2024 0

Codifying the attributes that standard-setting organizations must demonstrate to be recognized under a proposed, final “open banking” rule would be accomplished before the final rule is issued, likely this fall, the head of the federal […]

Bureau cuts penalty, additional late fees for large credit card issuers; smaller issuers get more room

March 5, 2024 0

“Large card issuers” are now subject to a much lower safe harbor amount for penalty fees and restrictions on fees for subsequent violations to ensure that late fees they charge are “reasonable and proportional” as […]

CFPB circular focuses on potential for CFPA violation by digital comparison-shopping tool operators

February 29, 2024 0

Digital comparison-shopping tool operators that give preference to financial products based on benefits to themselves are in violation of the Consumer Financial Protection Act (CFPA), the federal consumer financial protection agency said Thursday. The Consumer […]

Comments on overdraft proposal for ‘very large’ banks due April 1

February 23, 2024 0

April 1 is the public comment deadline for a proposed rule that would limit overdraft fees charged by “very large” financial institutions, or those with $10 billion or more in assets, according to a notice […]

Consumer bureau’s credit union council set to meet March 8

February 23, 2024 0

The consumer financial protection agency’s Credit Union Advisory Council (CUAC) is set to hold a public meeting March 8 from about 1-3:15 p.m. Eastern, according to the agency’s website and a notice in Friday’s Federal […]

« 1 … 7 8 9 10 11 … 132 »

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 [...]